Quick Market Update

 This is Friday's unusual close, I say that based on Dow Theory, although it is much more complex now then just Industrials and Transports, although on Friday I did point out the divergence between transports and Industrials and I will have more to say about transports in a post coming. However on this chart, you have to match up the color coding with the averages, the NASDAQ100, DOW-30 and SPX (yellow, light blue and green) all made a late day push, while the Russell 2000 and the Euro (red and white) failed to participate, this is a warning in Dow Theory.

Here is the Russell 2k's relative strength vs the SPX for the day, it fell off sharply at the close.

 Today is just killing time as I would expect as Greece will dominate this week's early trade, the SPY did hit the last late Friday support level which has acted as resistance thus far.

 This morning's 1 min 3C chart showed a small positive divergence and the SPY bounced off its lows, since hitting resistance for the second time, a negative divergence is in place.

The 5 min chart deteriorated pretty badly from Friday's afternoon highs and remains leading negative.