Daily Wrap

US indexes saw a naturally very quiet day, in a trading range of barely 4pts, sp'500 settling +1pt @ 1974. There is viable Thursday upside into the low sp'1980s, with the giant 2000 level likely out of range until late July/early August.


sp'weekly8b

VIX'daily3

Summary

There really isn't much to note.. on what was indeed a day of nothing.

VIX remains low, settling -2% in the upper 10s, and even the mid teens look out of range until late July.
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Closing update from Riley


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Looking ahead

Thursday will see weekly jobless claims, trade data, and ISM/PMI service sector data.

However, far more important, we have the monthly jobs data, Market is expecting 211k net gains, with a static headline rate of 6.3%. Any number >225k would no doubt please those on the 'recovery continues' wagon.

*next sig' QE is next Monday.
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Goodnight from London