We are heading into the end of July, and with settlements today was the last day for the funds to trade in this month.
We are on important support, and the stock bulls must rally tomorrow or risk some serious slipping all the way into the end of summer.
Volumes continue to be lackluster, but fear of financials are curbing the animal spirits. The big Jobs Report is coming out at the end of the week, so we may see a few more rally attempts until then and one might stick. But if they do not, the market can turn ugly, quickly.
Keep an eye on the financials. The market cannot sustain a rally without them. The low volume may be the bull's best friend, vis a vis a short squeeze attempt. But if serious selling starts, look out below.
