Earnings Calendar - IBM after the bell and GS with KO and many others in the am before the open.
Economic Calendar - Leading indicator report at 10. Auctions later then pretty quiet till Thursday.
Pivot Points - Know 'em
My thoughts are is this threat at regulation real or just another sham to get the bastards a decent shot at getting reelected in November? Real regulation will kill everything and really hamper earnings for the TBTF's, so don't count on anything that will hamper profits to much. Sadly the banks that WE saved will fight tooth and nail for the right to continue to rip us off with all they got. It is an amazing system we have.
On the minis the 30 and 60m are oversold. What we need to have is for the daily indicators to have enough momo to finally change the trend. Another thing is we need for this corrective is something sustained and lasting not another quickie.
SPX 60m - The gap down this am will hurt this chart and the 30m. Cracking that black TL and the 88ma will assist the bears as well. The big question is can it follow thru. Can we get the really big sustained rip that is required to change the trend. Hard to put a finger on a number, let it get in play and then I'll make the calls. I'll update thru the day with charts. GL!
Oil - getting crushed still, might pause, but continued weakness is expected.
Natgas - basing, but looks like it is gonna get more downward pressure.
Gold - Battling it's LT support line. Possible massive H&S worth around $200.
EUR/USD - Holding support, but it should get crushed soon as it is expected Greece will finally default sooner than later.
