A wild night on the futures. First the rising channel / bear flag broke down at 1225 and looked as though it would break down towards main 1190 area support today, then news came that the greek referendum was most likely cancelled and there was a wild recovery, with ES up over 30 points in five hours. News apart, the development now looks bullish for equities, with a higher low on ES and a possible W bottom made:
On NQ, a new low was made at a key support level and on sharply positive divergence. that now looks like a W bottom very similar to that seen at the October low on SPX. Declinng resistance from the highs has broken and NQ now also looks bullish:
