Greece election on June 17th, Market to stabilise temporary

After huge sell off and US dollar Index rising for 13th straight day, Market is likely to stabilize till June 1st week. But any news on withdrawal of money in Greece would move this market downward. Greece has appointed high court judge to form temporary caretaker government till election is over. Greece will be holding election on June 17th. So we could expect tremendous sell off, as more people are likely to withdraw money from the bank in last week before election as Greece future in Euro zone is uncertain. June 20th, Fed will be announcing whether new operation would be carried out or not as operation Twist will end in last week of June.

Dow and S&P500 closed in bearish zone again but with a breakpoint which means market is expected open higher tomorrow. But whether the rally will be sustainable is big question as it depends on different news coming out of Europe.

For upside Dow needs to break 12677, while for downside dow needs to 12525. For 2008 crash like scenario, Dow needs to break 12200.

For upside S&P500 needs to break 1335, while for downside S&P500 needs to 1318. For 2008 crash like scenario, S&P500 needs to break 1275.

Jobless Claims 365k is expected prev week was 367k, higher will be bearish while lower will be bullish sign. 8:30 AM ET

Philadelphia Fed Survey 10 is expected pev month was 8, higher is bullish sign, while lower will be bearish sign. 10:00 AM ET

EIA Natural Gas Report Decline in inventory is bullish sign, while built up in inventory is bearish sign.

10:30 AM ET

Earnings before market open:  ALKS, DLTR, PLCE, GME, PERY, QSII, WMT, TWMC, TOO, SHLD, ROST, 

Earning after market close:  ARO, ARUN, AMAT, GPS, MRVL, INTU, CRM, YOKU, ZUMZ, SVM, ADSK, BRCD

After hours big gainer: ARRY, PACB, ONXX, EXXI, VELT, CPE, LXU, ELX

After hours big loser:  LTD, CHS, RPT, VNET, RRGB, DNDN, JAZZ

For Long Term: Keep PCX, NOK, RVBD, AAPL, PCLN, POT, MT, F in your watchlist.

For day trading watchout BIDU, AAPL, PCLN, MA, V, FAS, FAZ, TZA, TNA, TVIX, XIV, SVXY, UVXY, VXX, SPY, DIA, GLD, AGQ, INFY (remember volatility is not a long term investment option use it for strictly day trading) VIX is still in contango so any rally in it would lead to sell off at close. So becareful with UVXY, TVIX, VXX.

Watch out for US dollar index, if its above 81 its not safe to invest money in stocks. Be on the sideline. http://data.cnbc.com/quotes/.dxy

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