3rd Quarter of business officially kicks off today. I always like seeing how things go during the 3rd quarter as I usually is a good indicator for the 4th quarter. I predict most of the news this quarter will surround Oil and Housing as the summer months tend to have an impact in both areas. This morning manufacturing shrank which obviously is not a good sign for the economy. Still, futures were higher into the start.
As usually, I have posted my targets intra-day for the S&P. You know you can use these to trade the SPY ETF right? I’m hand feeding you ideas here each day. Anyways – the key again will be to stay below 927 and start heading for 905. Seasonally the days before the 4th of July are usually more bullish than bearish – but I’m definitely not expecting a big rally AT ALL.
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