ES review & plan

Friday was a slow and heavy trade, with the market rotating around the overnight low for the first couple of hours until finally bears took control and had an aggressive push into the close towards 2100.00, which may have been related to the option expiry.

Globex trade opened with a gap higher and a push up to the 16.75-19.50 zone once more. It is unlikely we are going to see much longer time frame activity until there is something solid coming from today's EU crisis talks. So far the feedback is not good from the Eurogroup meeting this morning but markets have not reacted negatively yet. Headline risk is obviously huge today, so playing things very cautiously and short term around levels.