sp'weekly8b
Summary
*the count remains a 'best guess', and right now, I'd guess we might see a small decline post FOMC, only to then rally into early/mid July.
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So yes, with the World cup football (or Soccer, as you might call it), I don't expect much from the US..or any other world market until mid July.
Sure, we could easily see a brief fall back to the low sp'1900s - where there are a number of aspects of support, but I sure don't expect 1800s again until late July/early August.
Looking ahead
We have an array of data tomorrow, jobless claims, import/export prices, bus' invent', and retail sales. Those should be enough to give the market a kick higher..if they are within expectations.
*next sig' QE-pomo is not until next Monday.
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Ready for some games
I'm not a particular fan of what is the UK's national sport - Football, but the international games are something else entirely. First game is tomorrow at 4pm EST, although the TV coverage begins around 2pm...so I'd expect many to forget about trading the market by early Thursday afternoon.
The fact the world cup lasts an entire month should lead some to realise that things will be rather quiet for the next 4-5 weeks - which of course, will also encompass the US July'4 holiday weekend.
*I hold moderately long, via WFM, and that managed to close positive today, which was something of a bonus, considering the early morning decline. I'd sure like the 44s by late Friday, but that is a clear 5% higher.
Thanks for the comments across the day, its good to hear from YOU!
Goodnight from London