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The coming two weeks will be very quiet on the US corporate front as we gear up for the start of Q2 earnings on Mon Jul 12 (AA comes after the close on that day). • In Washington, Congress will vote on the financial regulatory reform bill (the House is scheduled for Tues although the Senate vote looks like it will slip into the week of Jul 12). • In Europe, the Spanish "cajas" banks are supposed to have their consolidation planwrapped up by June 30, although the really big news from EU banks won't come until mid-Jul (when the stress tests get published; the FT said they may hit on Jul 15). • The Financial Crisis Inquiry Commission (FCIC)’s next public hearing titled “The Role of Derivatives in the Financial Crisis.” Execs from AIG, GS will be speaking. Wed June 30-Wednesday, June 30th: US (MBA Mortgage Applications, Chicago PMI, NAPM Milwaukee,ADP Employment Change); Eurozone (German Unemployment Rate, UK GDP, EurozoneCPI); Other (China PMIs, Swiss Leading Indicator, Canada GDP, Japan Tankan Survey). • Thursday, July 1st: US (Jobless Claims, ISM Manufacturing, Construction Spending,Pending Home Sales, Auto Sales); Eurozone (UK PMI Manufacturing); Other (Australia RetailSales). • Friday, July 2nd: US (Non-farm Payrolls/Unemployment Rate, Factory Orders); Eurozone(UK PMI Construction, Eurozone PMI, Eurozone Unemployment rate); Other (n/a).Thank you,Dr.Carl but it was a tough day.
Back to neutral. Exited all shorts entered into June 28 at 10:40 PST. There is more support than should exist if we are to plunge further.
Carl, Have your views on interest rates changed at all?
Naveedah - great review on upcoming news events. i think we need to find which ones will really move the market. obviously some of them have been baked in already, but how in the world did we miss this china news today. whew.
Sir,my work indicates it downward to 1020 and then1008.This is not to post as my all learning source is YOU!Wondering why?Before going to Spain,I would stay thankful and leaving lots of blessings to you your family!
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