DislikedI agree looks very bullish today, anybody else seing what we saw last week of a market that was overbought the whole day in the equity markets and yet the buying continued until 1hour before the NY close. I'M certainly seing the same movements in the 30min and 4h. Cautiously buying with a tight stop and am ready to sell before NY close.Ignored
Then at 10am EST, we get the ISM Non Manufacturing PMI
This one may be shrugged off
However, at 10:30am EST we get Crude Oil Inventories
If this number shows a buildup of oil inventories, watch oil and other commodities drop like a stone and the sp500 follow along. Result: Euro negative.
As for Euro positive stuff? Well there isn't any. In absence of negatives, we only have neutrals, and neutrals cause traders to cover their shorts. Hence the correction.
ADD: Actually if the tear gas continues to fly in Athens, we may see the bears take over before the news.
Those who say it cannot be done should not interrupt those who are doing it