The charts are signaling that the only way to go from here may be down. Oil shares are the most vulnerable.
Indicators are mixed, and events next week could tip the scales to the bears or bulls, but sideways trading in the short term seems likely to be followed by a solid rebound.
Traders hope a deal is near to ease the Greek debt crisis. But energy and tech stocks sag. Research In Motion shares are crushed. Apple is down for 2011. Oil hits a 4-month low.
No matter the cause of crude's precipitous decline, consumer spending will rebound as the price of gasoline drops.
Investors pummel stocks as turmoil in Greece hits markets globally. The major averages have fallen more than 7% since April. Pandora Media shares jump -- then fade -- as trading starts. Oil falls below $95 a barrel.
Stocks enjoy their best day of the month on better-than-expected retail sales and strength in China. Pandora rates a $2.6 billion valuation. Best Buy results beat estimates, and JC Penney snags a top Apple executive.
Everything is falling into place for the abundant domestic fuel -- except Washington.
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