Worked on a few small coding issues until 5:00 am yesterday. One small little small rendering bug I thought would take only 2 or 3 hours to fix took 17 hours on a Sunday. Late getting to the charts. One thing that is interesting is that today's action is exactly of the type I have been concerned about.
Friday's weakness was structural IMO and, therefore, more related to normal market structure and expiration than people would want to think. Headlines are always more compelling.
This week overall is fairly upside biased into Wednesday. Monday's low came very early. Earlier than expected. Ideally, a retest of the Friday low would have been most probable. Last night, however, all probable overnight MSP, were upward biased as of the morning with action around 7:00 AM and 12:00 pm being key timing.
Anecdotally, my view has been for quite some time that the negative reaction could come with exhaustion on a positive news announcement and resolution. Projections are indicating a bias upwards into Wednesday overnight. NOT certain if projections are corroborating this type of squeeze, but its does seem that any rise could be Greece related and part of a general squeeze.
Monday CASH sessions are among the weakest of the week presently. A strong open could pull back pretty well after seeing a 7:00 am or 12 :00 pm high with pullback continuing into timing window around 3:30 pm. Tues and Wed continue upward bias probabilities this week.