Indices closed down 1.74% to 2.26%......

Indices were in retreat thanks to overbought conditions.

S&P 500 closed @ 1229.05, near its support area of 1225.

RSI retreated to 56.58

Internals of the market were as follows :

Down volume led by 10.62 to 1 in NYSE & 5.85 to 1 in Nasdaq

Declining stocks led by 4.81 to 1 in NYSE & 4.09 to 1 in Nasdaq

New 52 wk high were 32 in NYSE & 24 in Nasdaq

VIX UP 10.12% @ 32.22

Oil Closed @ $93.17

Gold closed @ $1700.40

IF we analyze today's TAPE, it gives a clear message that Oil & Gold is predicting European resolution.....

CNBC does not promote constructive or positive analysis of any event, always negatively biased commentary.

I expect European leaders to move decidedly towards dealing with a very messy situation.

IF this happens, we may have another move HIGHER above S&P 500 200 DMA.....

In my portfolio :

Bought JCP @ $33.30

Bought LVS @ $42.30

Exposure 29%

AH ER were greeted as follows :

PNRA UP 10.25%

FFIV UP 7.99%

BRCM Down 5.31%

AMZN Down 12.41%....AH range was $184.59 to $237.74 in heavy volume of 5 million shares.

AH Futures Mixed

AH Asian Markets Mixed

AH Gold UP

AH Oil Down

BLOG does NOT give buy or sell.

Saleem