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1. Win no Confidence Vote
2. Get Parliament to Approve Austerity Plan
3. Get Parliament to Approve Implementation Procedure
4. Get EU/IMF to Release Next Tranche of Aid
5. EU/IMF Needs to Come up With a Second Rescue Plan for Greece
6. Rating Agencies need to be convinced that the Rescue Plan does not constitute a default
From an Elliott Wave perspective there are two possible scenarios on the cards right now.
The most likely IMO is that we have had a double zig zag correction (marked in red) so we have seen ABCXABC and now we have wave 1 up, wave 2 correction followed by a strong rally for wave 3.
The second choice is a triple zig zag correction which means we have ABCXABCYABC before a rally (shown in blue)
Both scenarios lead to a major rally. Looking at the futures price after hours tonight I think the first setup is most likely as we seem to have broken out from this downward channel that started way back on 2nd May.
I guess Greece may provide the answer tomorrow!
