The market is neither going up nor going down. Volume has been going down. NASDAQ and Russell
continue to make new highs while SPY and DJI  indicate distribution to weak hands.
US markets may be ready to move down again  after low volume rallies in the last two days.

Gold and Silver appear to be going down with retest of lows.Corporations are spending money on Buy Backs rather than investing in new plants and equipment.This is being done to benefit the insiders so that they can sell their options near the highs. First Quarter GDP was revised up to down 0,2 from down 0.7 previously. Any housing strength recently will be short lived as housing goes down when interest rates go up. Dollar completed its 4th step down on Monday and had a sharp move up yesterday.
After some consolidation Dollar will continue to go up now till it makes a new high in 5th step up.
Only after that it will start going down again.
No agreement  between Greece and Euro zone . Only way it is possible if Eurozone makes concessions. And that is possible if Germany sweetens the pot again to kick the can further down into the future.

SPY

 DJI

 IWM

 TNA    may be ready to go down but there is no SELL signal

 GLD  continues to go lower

 NUGT   Will continue to go lower

DUST

 DJ Transportation

 USO  giving short term BUY

 ERX  shrt term buy

 ERY   short term SELL

 UVXY    May be ready to go up

 DGAZ   Short term Buy

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Greece is again in the news.They will probably kick the can into the future. The GDP of Greece
is so small that it will not have much effect on US markets.We have been having rally since June
15, 2015 . The markets are fractured with NASDAQ and Russell 2000 making  new highs.
DJI and SPY did not make a new high and DJT and utilities are near lows.
Dollar  should be completing 4th step down and will start moving up to new highs.
Gold and Silver are moving back down after two day rallies
DJI & SPY and rest of the market should go down after a rally today to Thursday highs
or in the case of Russell 2000  and Nasdaq  may be making new highs.
According to CBO, US public debt levels have started going up again and will go above GDP
by 2040 and this is not sustainable

 SPY

 DJI

IWM

TNA

TZA

GLD

NUGT

DUST

ERX

ERY

DGAZ

UVXY

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Words, words , words. That is all we are getting  about what is happening in Greece. Greece should default because they owe so much money , they can never pay it back.
 What about Federal Reserve? Again words , more words   and growth forecasts are lowered again.
 We will have a 0.25 increase in rates in Sept , 2015 but they will not raise interest rates much in the next 5 years. There are trillions of dollars floating around and millions of people around the world who are willing to work at one third the cost of American labor.
Why not increase the debt by one or two trillion dollars and start a huge infrastructure  program and build highways, bridges, airports, fast bullet trains  etc etc  to  Chinese and Singapore standards. That is the only way the middle class will gain money and jobs. Otherwise , start a new company  in bio, healthcare or any of the new technologies and get rich beyond your expectations. You will get as much money as you want for your new venture. The high technologies will only destroy more jobs and no matter what we do , it cannot be stopped.
In the mean time interest rates will not go up for the next 5 years because we and Eurozone and Japan and China  cannot afford higher rates .
As predicted we had a nice rally in the last 3 days. Today market will go up to the highs set up yesterday or to recent highs and then more decline will start. Transportation stocks  and Utilities are already making new lows. So the rest of the market will follow suit.
Gold an Silver are giving a BUY signal on a short term basis. Energy stocks will continue to go lower
Last 3 days of SPY

 Last 5 days of DIA

SPY

DJI

IWM

TNA

$DJT

ERX

USO

GLD

SLV

NUGT

DUST

UVXY

DGAZ

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Whether Greece stays or leaves the Eurozone  has not major effect on US markets. Of course the insiders will find any lame excuse to take the market up and down. The European markets can be affected in a major way if  Greece leaves but it will be temporary.

The real problem is not Greece. It is the unending printing of money by Eurozone, USA, Japan and China. So there is no real growth in Eurozone, USA, or Japan and this printing will come to an end.

 There is a possibility that we may have a rally up after initial decline today . So be careful here. See the last chart of SPY

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The counter trend rally that started on Tuesday  ended yesterday  and we are ready to go to new lows soon eventually going below Oct lows.
Dow Jones, Spy, DJT are all headed lower now.
Dollar should make  a new high in the 5th and final leg up.

Gold and Silver are heading lower and so will oil and energy related stocks.

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