Whatever actually caused yesterday's intraday meltdown is not our concern. What really matters is there are no clear ETF trade setups on either side of the market right now.
The charts for the S&P 500 e-mini contract for June and the one for the cross rate trading between the Australian dollar and the Japanese yen highlight the massive role of the FX carry trade.
The stock market had an epic day today as the indices rolled over in the morning, accelerated in the afternoon, and then plunged with a huge spike down on heavy volume.
As to the Greek bailout, there are two points of view -- both of them insufficient. One group thinks the bankers should get their money. The other thinks the public employees should get the money.
If the indices manage to quickly snap back and close above their 50-day MAs in today's session, it would be a positive sign, especially if such a bounce occurs on higher volume. However, it may be more likely the major indices will first test support of their January highs before finding any significant price support.
Copyright 2026 Tiger Shark Publishing LLC . All rights reserved.
It should not be assumed that the methods, techniques, or indicators presented on these websites will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples presented on these websites are for educational purposes only. These set-ups are not solicitations of any order to buy or sell. The authors, Tiger Shark Publishing LLC, and all affiliates assume no responsibility for your trading results. There is a high degree of risk in trading.
Free Festival of Traders Videos
Stocks
full story
printer version
visit site