The news from the G20 meeting sounds encouraging and oil looks like it wishes to be a leader. But the weekly S&P chart put in an ugly bearish engulfing pattern.
The daily chart though, looks like it poked out a bottom on Friday and may want to try the green side of the market for at least a few days.
The week prior to a holiday is usually bullish, so we have that seasonal advantage working for the bulls. Next Monday the markets will be closed for the 4th of July holiday, but this Friday morning we have the always fun and wild monthly employment report. So the markets will be fun again this week. Be careful and happy trading!
Sometimes, entranced by the screens, watching equities, options and futures change colors, charts moving in a wave, and indicators pointing in every direction, I just have to scream....
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