Tuesday
June 23, 2015
1-855-RWT-0008
Prepared by the good people at Random Walk, LLC. (and Scott)
Closing Prices From Yesterday
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Today’s Number(s)
Yesterday and Today
Yesterday
The markets took off right out of the gate on Sunday night. The E-mini futures opened up $9 and then were up $18 prior to the open, and that is pretty much where they opened up. Most of this was the result speculation that a deal will be done with Greece sometime after Thursday’s meeting. That’s it, nothing else.
The other thing of interest was the decline in the bond market with the TLT down a good deal. Again, this is because of everything going on in Greece.
TODAY
We have durable goods and new home sales coming out which may, or may not, have some effect on the market. What is the more significant determining factor on the markets will be the continued speculation of how Greece plays out. It doesn’t matter what happens in the economic world, all that matters is the rumors that will be circulating.
It was originally my thought that Greece had no real intention of getting a deal done, rather they are just milking this for what they can before the cow dies. I still think this way, but what I didn’t count on is US government caring this much. Sure, they don’t give a damn about N. Korea. They don’t care one bit about Iran building nukes. But they are worried about the stability of the European region if Greece falls, especially with China and Russia poking around.
Perhaps some secret backroom deal is being made between the US and Germany to get a deal done. If this is in fact happening, then a deal will get done and this market will BLAST OFF ā provided it is a deal that will put this issue to rest for more than a few months.
Contract the office at 1- 855 ā RWT ā 0008 for more details.
Too True To Be Funny
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