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Monday, July 6, 2015

Daily update 7/6

The Greece saga continues.

We had a rather large gap down this morning, but nobody was interested in selling into the weakness.  That allowed the dip buyers to close the morning gap.  After that the sellers showed up and sent the market almost all the way back down to the open.  Breadth was -63%.  New highs were a paltry 38 while new lows were 212.  The consolidation above the 200 SMA continues.

The futures popped a few points the 4 PM close.   I have no idea what that was about.  They continue to trade within the large blue down bar.  They opened up Sunday night below that low, but rallied right away to get back in the range.  Until we get outside the range of that bar and stay there we are in for some more chop. 

The market is whipping around on news events.  Needless to say trying to predict what is going to happen next is tougher then usual.

I posted some thoughts on emerging market stocks and bonds on the 401k/IRA blog.  http://traderbob58-401k-ira.blogspot.com/


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