MONDAY: Just another manic Monday, but not as bad as the overnight futures were pointing, although that was the case last Monday, as well. Today begins the next part of the story as Greece is risking an EU exit after yesterday’s referendum vote.
TUESDAY: Yesterday could have been far worse of a day, so there’s some optimism that we will get through the Greek debt crisis, regardless of where the road may take the EU. Today is shaping up to start with a mildly positive open, with only the JOLTS Report to offer any economic insight
WEDNESDAY: After yesterday’s very impresive reversal comes the reality that manipulation of markets doesn’t work very well, as the sell-off seen in China was only delayed by a day or so and spreading elsewhere, including the US. While our futures are down triple digits, they are better than they had been earlier, which has been a theme of these recent large pre-open declines.
THURSDAY: Four steps forward and 3 steps backward isn’t that bad. This morning futures trading is an attempt to catch up with the steps taken backwward, which has left the S&P 500 at aboput a 4.5% decline from the highs and within 3 points of a support level.
FRIDAY:. We lost most of yesterdy’s gain related to the CHinese market’s surgeing bounce, but today there’s another opportunity to maybe close out the week on an up note
“SNEAK PEEK AT NEXT WEEK” APPEARS ON FRIDAYS