Technical situation is static. We are still in primary uptrend, but daily trend is still broken.
The oscillators are sill showing negative divergences and volume is failing.
Not much can be said at the moment.
We should watch US markets, however the analysis are quite negative at the moment (here or here).
Sources:
[http://www.swingtradeonline.com/jackswrap/7/2010/6/]
[http://www.alphatrends.net/2010/07/06/sp-500-levels-analysis-for-7710/]
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