|
my sfm sees a nice (but declining gap from what it was) at the open, profit takers hitting us, then a positive closing for today, setting us up for looking to next weeks retail sales and cpi number, retail sales will be soft, giving us a boost, cpi will be about as expected, and overall next week will be up strong, this market wants to go higher, until we get a major surprise in inflation or from the fed, we are poised for summer rally up until mid july, earnings warnings is the other factor that will start slowing this market down, be prepared for some more warnings like pg had yesterday, if we get some of those from the tech leaders, that could end the summer rally, today im feeling cautiously optimistic that we can trade to the upside till mid july, then get wacked down again , but keep in mind i havnt found my sfm owners manual yet, and im not sure what all the buttons actually do yet, this ppi number will be forgotten by about 10.30 though, and the focus will change to next weeks numbers |
