Smoked!

The market is getting smoked like salmon thanks to news out of Germany regarding Greece.

No fade as the super guru sheep get slaughtered once again buying a "sure thing" gap down. I've said it before, but here it goes again: RUN The other way!

If this plays out like my scenario from last night's video, we test the lows of this consolidation and then try for a bounce. If not, we are heading for a retest of yearly lows, and likely sooner than later. We've already gone through the first support level, which was the gap from earlier this week.

Breadth is horrid, but it's actually showing some divergence relative to recent daily low A-D readings. If this sticks it could have some short term bullish implications for the market, which I'll go over this weekend. For intra-day and now, it's putrid and not to be fought. It's been the Queen of the scene lately.

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