The indices backed and filled for a couple hours in flag-like fashion, and then rallied again in the afternoon to new session highs, backed off, and in the last 45 minutes came on again to close not that far off the session highs.

And even though the peak of credit in the US wasn't hit until 2007, it's possible that the actual correction began in 2000.

What does Mike Paulenoff see for the future of the S&P 500?

Dr. Adrian Manz analyzes the major markets, stock sectors, and individual stocks for June 21.

Dave Landry takes a one-minute look at the stock market in his video for June 21.

The poor volume performance suggests an absence of institutional involvement on the long side of the market. If the market cannot find sound footing over the next several sessions the odds will begin to favor another leg down.

The stock market indices started the week on a positive note, but backed off in the afternoon in a consolidation formation and took back some of the gains.

Mike Paulenoff is impressed by the price action in Johnson & Johnson (JNJ).