How long will the rout continue?

In looking at the technical today I do not see a bottom happening tomorrow, I think the drop is going to continue as the market is assimilating the Greece news with everyone looking around in a panic looking for the exit. Lets look at the chart:

Two words: Not Good. A couple of things wrong with this chart.
1. I dont see a bottom tail on todays gap down candle. That shows more problems ahead.
2. The top indicator, the RSI is still trending down
3. The bottom indicator, the MACD while a trailing indicator is still trending downward
4. In investors minds, shit is still up in the air. Whats the deal about Greece? How will this affect the world markets? What if this is the beginning of a chain reaction with Italy and Spain?

So. It is my opinion that this is the first crack in the dam. Remember I pointed towards a crash in 2016? I think its going to be a world event and it will trigger in Europe. I will write a post on this later.
As for tommorrow, I would say stay to the side and watch. Why didnt I buy puts for today? Because there is no value in it. The Contrarian value to purchase puts would have been June 15-17th when the cubes were flashing graveyard candle markers. Thats when puts would have been cheap and right now they are fat as hell, and would be a great time to sell them.

Tradinginsider