Bullish case:
- Tech leading relative strength (almost back to top of range)
- AAPL beat earnings
- Copper still flagging/dripping higher
- Dollar cannot break out of ascending triangle until US can get a credible debt deal done
- Homebuilders, Tech, Energy were the leading sectors (more risk)
- JNK v. LQD is making a series of higher lows
- VIX below 20
- Endless QE speculation
Bearish case:
- IWM is lagging (below 20 & 50 SMA)
- Long Bond back at top of range
- lower volume on today's move *but that doesn't mean we don't have chasers & enough short fuel to rocket higher
- EU mess
- Endless NO QE rumors
For Tomorrow we have:
Tomorrow's earnings schedule
This week's finviz calendar
Economic Calendar
| Tue Jul 19 |  | Release | Impact | For | Actual | Expected | Prior | |
| 8:30 AM | | Housing Starts |  | Jun | 629K | 570K | 549K | |
| 8:30 AM | | Building Permits | | Jun | 624K | 609K | 609K | |
| Wed Jul 20 | | Release | Impact | For | Actual | Expected | Prior | |
| 7:00 AM | | MBA Mortgage Purchase Index |  | 07/16 | - | NA | -5.1% | |
| 10:00 AM | | Existing Home Sales | | Jun | - | 4.93M | 4.81M | |
| 10:30 AM | | Crude Inventories | | 07/16 | - | NA | -3.124M | |
SPY
QQQ
IWM
Dollar (USDX)
Copper (CL_F)
Long Bond (ZB_F)
Crude (XOIL)
Gold (XGLD)
Silver (XSLV)
VIX
McClellan Oscillator
JNK v. LQD
SSEC
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