As a trader, I look at charts to try and understand crowd behavior. The headlines make me want to sell everything and hide under a rock until this euro mess is sorted out once and for all. When I look at the charts, though, I see a different picture. The S&P 500, DJI, and Russell 2000 all looked extremely oversold and short term bullish divergence on the shorter term RSI line. Based on the horrendous price action in May though I suspect that it will take a while for the snap back to materialize. The Russell 2000 is significantly below the 200 day MA. Things are not so clear on weekly charts.
