Good and Bad For The Week

Byaaronmat-admin

Good:

  1. Bulls showed up and defended longer term support (200 DMA)
  2. Crude oil plunged 13% in the past two weeks. Good because it lowers costs and bad because it signals weaker demand

 

Bad:

  1. China has to interfere in markets to stop them from going down
  2. Greece remains in limbo. Another deadline set for Sunday. Third week in a row we have a big news event over the weekend from Greece
  3. The PMI Services Index slowed in June to 54.8, missing estimates for 55.1
  4. The ISM service index held steady at 56.0, matching estimates for 56.0
  5. Jobless claims rose 297k, missing estimates for 276k
  6. Crude oil plunged 13% in the past two weeks. Good because it lowers costs and bad because it signals weaker demand
  7. Technical “glitches” surged last week. United Airlines flts were grounded, the NYSE shut down, WSJ.com was offline, and TD Ameritrade had ‘widespread’ problems executing orders