As noted by Ron and seen on my video last night there were lots of shooting stars on the charts last night, few Green Candle Lows and a bunch of Red Candle Highs.

Except for small caps, which have led the last couple of days, most of the major indices are just below their 50 day Simple moving averages which will likely act as resistance on the way up.

Looking at the futures right now, they are fairly flat to a bit down.  However the DAX is off over 1.2%.

We are in a strong month but we should start to see the volume continue to dry up which means exaggerated movements in the market.

Based upon the charts and the DAX, I would not be surprised to see a failure at the 50 and a bit of a pullback today.

Then again, the next talking head may say the right thing and we rally.

Don’t you just lover summer trading?

Happy and Safe 4th of July Holiday to all in HGSI Land and especially to our main gurus Ian and Ron, as well as the HGSI family of George, Debbie and Matt.