26 June 2015

SP 500 and NDX Futures Daily Charts - Russell Rebalancing, Tottering Into the End of 2nd Quarter

Stocks were wobbly today as traders were squaring up ahead of the weekend, and the end of the second quarter next week.

Much of the higher volumes today were technical moves as funds attempted to adapt, and trading desks sought to exploit, the changes in the composition of the Russell 2000.

Much of the trading in this market is not fundamental but index and derivative contingencies driven.

Let's see if anything happens to resolve the Greek debt situation as the deadlines continue to approach.

Have a pleasant weekend.