Thirty minutes and then it was over, sums up the trading day.
Flows, volumes seemed to stop after the initial ramp higher off better than expected housing data….(Yep ,US housing as Pending sales followed up some related number yesterday). It may be June 27th, but market is back to early June ways stuck in the ~1309 to ~1335 range. Intraday market was thwarted at the ~1335 top 2-3 times for about 2 hrs in total. The action was narrow with the home linked stocks and energy doing most of the moving. Anything retail linked from dollar stores to LULU to restaurants CMG was humbled 3-5% today. Not exactly a great tape with the ‘leaders’ retail action that could only be explained by Q end fixing. Any way you slice it, today’s upside seemed very artificial. Everything else was pretty quiet in single stock land as fast traders dominate. (WPRT initiated June 6 struck another deal and is now up ~25% since).