Your MUST-READ Morning Stock Futures Cheat Sheet: Deal or no deal Big Picture Analysis – The ES gapped up
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The Precise Take – Deal or no deal
Big Picture Analysis – The ES gapped up overnight on news an austerity deal in Greece had been reached. While the saga is far from over, as long as the selloffs on bad news are contained, with good news being bought aggressively, we should continue to see materially higher highs. Though today is a quiet news day, we have a packed week, with Retail Sales tomorrow, FOMC Minutes Wednesday, PPI and the Philadelphia Fed Survey Thursday, and CPI Friday. If we are to see a short term correction in the US indexes, it is more likely to come from poor economic data in these reports.
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