18 July 2011

SP 500 and NDX Futures Daily Charts



The SP held the important support at 1295, and actually closed at the psychological number of 1300.

The sovereign debt situation around the world is hanging on the market, as well as the deteriorating domestic GDP fundamentals.

We are now well into earnings season, and we should find the push and pull of the short term and the macro to provide interesting cross currents.

In other words, this is a traders' market.