Indices closed down .73% to .98%.....

Indices closed down @ absolute low of the day.

S&P 500 @ 2108.58, low 2108.58, high 2125.10

RSI @ 50.68

CMF @ -0.110

Internals were :

Down volume led by 4.18 to 1 in NYSE & 3.36 to 1 in Nasdaq

Declining stocks led by 2.49 to 1 in NYSE & 2.52 to 1 in Nasdaq

Net new 52 wk highs were leading by 27 in NYSE & 81 in Nasdaq

VIX UP 9.50% @ 13.26

Oil @ $60.27

Gold @ $1172.90

AH ER.....BBBY Down 2.35%, CREE Down 5.69%

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was under selling pressure due to inability of Greece, ECB, IMF, EU to come to an agreement. there is still 6 days left to come to an agreement and even beyond June 30th deadline. I do not see this as failure, just a negotiating tool. This pullback was expected and is healthy to reset support. Dow is below 50 DMA and S&P 500 sitting just above it, this we have seen before and TAPE has rallied from these level. Weakness is / was a buying opportunity.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed