Good morning. Happy Tuesday.
The Asian/Pacific markets closed mostly up – gains were small. Europe is currently mostly up – gains are small there too. Futures here in the States point towards a gap up open for the cash market.
Here’s the SPX 30-min chart. The index traded through a down-sloping trendline last week but got rejected by the early June high. So for now, everything remains the same. Over the weekend I saw some improvement, but the indexes are still range bound, they’re still not following through much, they’re stilling gapping a lot, and they’re still at the mercy of news coming out of Europe.
There’s approx. equal number of stocks on the Long List and Short List – this alone tells us there is no dominant trend. When the trend is established, we’ll have 20 set ups in one direction and none in the other.
Until we get more clarity, I wouldn’t assume anything. Keep trades shorter term until it happens. More after the open.
headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Earnings Reports
this week’s Economic Numbers
2 thoughts on “Before the Open (Jun 15)”