Greek Default Pending?

Domestic stocks down almost 3% today on chatter that Greece may default as early as this weekend. Germany is said to be readying plans to help banks if Greece does in fact default.

Euro banks stocks were pounded for another 7% plus today with SocGen of France down 11%.

For the SPX, the August double bottom of 1120 is coming into clearer view...

You can bet that many market participants will be monitoring news flow out of Europe this wkend.

position in SPX