Monday was a slow day after a very active Friday. Friday’s decline took the Dow below 12,000 for the first time in months. On Monday it traded on both sides of 12k and could act as support for all this indices in the coming days, unless more economic news is bad.
Speaking of news - there wasn’t any Monday. No reports were scheduled and nothing surprising happened. S&P downgraded Greece; but is that really news now? The only thing to truly be a surprise out of Greece would be an actual default, or increased violence and we don’t want to see the latter.
Monday’s range was almost entirely inside Friday’s range, which almost made it an “inside day.” Moreover, the vast majority of Monday’s range was inside Friday’s value area - so that’s narrow. Tuesday should be livelier: the early PPI and Retail Sales reports may move the market, as well as another appearance from Ben Bernanke in the afternoon.
Trade Date: 6/14/11
E-Mini S&P Trades*
(before fees and commissions):
E-Mini S&P Trades*
(before fees and commissions):
- No “Secrets” trades filled today.
- Algorithm positions (8)
- “Reading the Tape” positions (0) …combined Secret’s, Algo, & “Reading the Tape” total… +0.75
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