The Market Direction Outlook for June 30 is also condensed as I spent a lot of time working with investors this evening trying to repair some trades. As well I spent more time expanding this market direction outlook in the members forum to include trade idea outlines along with Market Direction Outlook advice.
Advance Decline Numbers
You would have though on a day like today that volume would have shot higher but instead just 3.6 billion shares were traded although 95% of all trades were to the downside. 313 new 52 week lows were established today and just 23 new highs, but there still were some new highs which is a sign that this is a reaction to Greece and not the start of a bear market or severe correction.
Market Direction Outlook for June 30 2015
The technical indicators are pointing to a rebound rally to start the day on Tuesday. The selling was so strong on Monday that I would indeed expect a rebound rally and then more selling. However despite the S&P breaking through the 2075 level and closing at 2057.645, I think it unlikely the S&P will fall to 2025 on Tuesday. Instead I think the selling will be far more muted but I expect a lower close.
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