It had to be this...

Between Carl Icahn's frets over bubbles, Fed threats over rate hikes no matter what, and Greek regrets over unacceptable EU creditor terms, stocks just could not hold on to hope gains...

From The FOMC Statement, stocks are still green...

On the day Trannies were spanked... after ramping on DOE inventory data as algos latched on to oil idiocy...

VIX jumped from an 11 handle yesterday to a 13 handle today...

Trannies are back in correction...

Dow broke thru the 50DMA and tested the 100DMA...

It's been a volatile week... (but remember everyone told you that Greece doesn't matter and is priced in...)

NFLX pumped and dumped a few more retail muppets to losses today...

Deja Vu all over again from the last NFLX stock split?

AAPL was the only Dow stock green - thanks to Carl Icahn saying he has not sold any stock...

Greek stocks appear to still believe... (still up 7% on the week!?)

Treasury yields slid lower after 2 big selling days...Notice that after the big deals yesterday we rally in bonds today as rate lock pressure lifts...

The USDollar limped lower with modest EUR strength happening after the Greek deal appeared to fall through...

Commodities were a mixed mess - an early slam in precious metals was bid back then a EU close collapse in Crude and copper...

Biggest down day in Crude in 3 weeks...

One quick question - if Icahn is right that HY is in a bubble, then WTF are stocks in again?

Charts: Bloomberg

Bonus Chart: The Macro Bounce Is Over...

Bonus Bonus Chart: "that's what makes a market"

"We're in a sweet spot." #drink pic.twitter.com/e8apz5cWH2

— Rudolf E. Havenstein (@RudyHavenstein) June 24, 2015