Note how we've set up a multi-day range in the ES futures (above) following the the rebound from the recent lows. I was aggressively selling the market in preopening trade, as the EU summit was clearly not exciting anyone about the situation in Greece (or the euro). When we moved toward the range lows, however, we saw buying come in and a rebound back to the range midpoint. We're seeing a strong USD vs euro, but interestingly commodities have been holding their own. This looks more like a weak euro trade than a strong dollar one. I show 16 stocks in my basket up from their opening prices; 24 down; only 174 more declines than advances. All in all, so far, not a day where sectors and markets have been in gear for trending; I'll need to see some extreme TICK readings to play for a sustainable breakout.
.