More Deterioration But…

More deterioration BUT major indices rebounded nicely setting up some upside testing here.

The bigger issue is the energy complex with another leg down and the semis worsening.

Keep in mind, it is the underlying weakness we have been targeting for you and telling you to avoid. If more weakness shows up, eventually, major indices will give way.

The news on Greece and other crap will be fluid so pay attention but leave no doubt, it is getting hairy.