Thursday
Jul142011
..micro time?
Thursday, July 14, 2011 at 07:00PM Markets closed just below 1310(noted this week), also below May/June trend-line, but hanging on to 20MA. Sentiment should have been better today.
Earnings (GOOG) and M&A activity must be able to hold this level into the weekend. European bank stress tests will play a lesser role now, but a very important one still on Friday. Focus will be on the ownership disclosures expected to accompany the tests and not how many fail.
We’ll update this weekend, hopefully we’ve started to turn the page to micro (JPM,GOOG) from macro.