Market Notes – Thursday June 26th, 2014

  • 8:30 AM:
    1. Unemployment claims in line @ 312K
    2. Core PCE Price Index m/m also in line @ 0.2%
    3. Personal Spending m/m disappointed @ 0.2% vs. 0.4% expected
    4. Personal Income m/m also disappointed @ 0.4% vs. 0.5% expected
    5. eMini hardly budged – 15Min chart
  • Market Notes
    • 7:00 AM: EMini futures are in the middle of a horizontal channel. On June 24th, the futures briefly broke above the high on June 22nd but the candle closed down, indicating a short-term bearish move. Then it broke below the intermediate low completing a double top. Yesterday it reached the down-side target of the DT pattern and then reversed. In the process it made a Wyckoff Spring pattern.


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