Alex Borzak
On Friday T-bonds closes the trading week with a decline amid concerns over the Greek debt crisis. The euro weakened against the US Dollar. According to , the weak Euro is currently affecting the Wall Street. The USD index strengthened from 78, 582 up to 79,107 points.
Dow Jones Industrial closed the week with a 0.7% decline around 3801,23. S&P 500 declined by 9,31 pts or 0,7%.
According to the Department of Stock Trading of , last week investors were expecting the S&P500 futures to overcome the last resistance around 1350.00. So far, it has been strong enough to make the price rebound from it for a couple of times.
Despite such uncertainty, the market volume and open interest are still relatively high. Big-scale investors are accumulating long positions while smaller-scale speculators keep reducing them.
Last week’s major purchases and sales were seen around 1336.00 - 1338.00. That is why overcoming the area will be a decisive factor this week:
For the S&P500 futures, the area above 1338.00 is the buy zone. The area below 1322.50 is the sell zone:
Judging by the fact that the week ended in the neutral zone (without any domination), there will probably be a battle above 1350.00. This level will be decisive for the mid-term prospects of the market:
Alex Borzak
