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Market Review:
The Calm inside the Storm
The end of May and beginning of June was accomplished last week, along with a little debt ceiling drama. Next week shows us rollover and expiration, plus the FOMC, and the beginning of earnings season. This week, there is an emptiness in terms of forces that drive the market.
What do we expect? We expect that we will need to be patient and observe this market to find our advantage. This is the third day of June. The market opened the week at 4288.00.
The Premium in the ES is huge. The Sept contract opened the week at 4330.75. That's 42.75 points higher. Just under 1%.
Over 70% of stocks track with the S&P 500 Futures
Major Events:
June 13 CPI
June 14 PPI
June 14 FOMC Announcement and Press Conference
June 15 Retail Sales
Key Numbers Opens: Above or Below
4288.00 is the open of the Week
4239.75 was the open of last Week
4188.50 is the open of the Month
4127.00 is the open of the 2nd Quarter
3895.00 is the open of 2023
What's Hot and Not!
Patience
We can all see the storm coming. Next week is rollover, FOMC, Expiration, and the kickoff to earnings season. Remember to let the market come to you. Whether in terms of understanding, or in a pure numbers sense, take the time to understand what you are seeing in the market.
Past performance is not indicative of future results. Futures trading involves substantial financial risk.
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