Today: MBA Purchase Applications, ADP Employment Report, Gallup U.S Job Creation Index, Treasury Refunding Announcement, 3 and 10-Yr Note Announcement, 30-Year Announcement, PMI Services Report, Jerome Powell speaks, ISM Non-Mfg Index, EIA Petroleum Status Report, Loretta Mester speaks and earnings before the bell from GM, HUM, MRK and RL and after the bell from LNC,PUR and YUM
- · Oil is up 20% in 4 days and the new Greek government dropped calls for a write-downs on its foreign debt.
- · I had the highs but was off by 2 or 3 handles but I nailed the late low. I could see all the buying filtering in at the 2033 level.
- · Talk about how all the false start led to new highs and how the mutual funds use the short to fuel the S&P 500 higher.
- · Ran the stops under 1988 yesterday – now its time to run the stops above 2048.
High: 2042.80 Late
Low: 2021.30 Early
Last: 2042.10, UP 25 handles
Volume: 1.7 ESH and 3K SPH traded
MOC: MiM showed 393mil to buy ACTUAL was BUY $900mil