The stock market indices opened with big gaps to the downside as European and foreign markets were weak on the Greek situation. They made lower lows early on in the first half hour, and then snapped back in a 3-wave advance only to back off mid-day. When that retest seemed to be successful, they came on and made nominal new highs, but when they couldn’t follow through, and failed at declining topsline, they rolled over and sold off the rest of the afternoon to give back all of the rally, basically, to close near the session lows on the Nasdaq 100 and the S&P 500. [More...]