- Still no real selling on Friday and volume wasn't OMG
- Buying at the close on Friday
- Indexes held the 5 EMA
- Dollar still weak being held below the 100 SMA
- VIX did not spike up on Friday but held 15.50
- Copper did not break down.
- Momo leaders like AAPL AMZN WYNN LVS POT CF had relatively strong Fridays
Bearish case:
- UST's (Long Bond) had a huge Friday
- Consumer Staples (XLP), Utilities (XLU) and Health Care (XLV) were the strongest sectors on Friday confirming risk aversion
- We're at the top end of the range indicative of a out of balance market profile unless buyers have enough force to break out
-Possible bear flags in SPY QQQ IWM
Weekend news
Debt deal breakdown
http://www.businessweek.com/news/2011-07-10/boehner-backs-away-from-4-trillion-deficit-reduction-accord.html
China import growth slows in June breaking trend
http://www.businessweek.com/news/2011-07-10/china-trade-surplus-hits-seven-month-high-as-imports-slow.html
China inflation still surging
http://www.businessweek.com/news/2011-07-09/china-inflation-surging-past-6-poses-growth-challenge-for-wen.html
EU emergency meeting regarding Italy
http://www.reuters.com/article/2011/07/10/us-eurozone-idUSTRE7691HM20110710
This week's finviz calendar
http://finviz.com/calendar.ashx
SPY
2 minute
QQQ
2 minute
IWM
2 minute
Dollar (USDX)
Copper (HG_F)
Long Bond (ZB_F)
Crude (XOIL)
Gold (XGLD)
Silver (XSLV)
Crude VIX
VIX
McClellan Oscillator
JNK v. LQD
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