Futures are looking lower premarket – and have, in fact, weakened since the release of the latest jobs data showing unemployment reaching 9.5 percent.
Although yesterday was not a bad day with indices posting okay gains, it was the defensive stocks that seemed to fare best. And of concern is the fact that the S&P 500 was unable to hold above the 930 level.
Do we even need to repeat that we will be watching the $USD and gold? By now, that seems a given.
Action today might get a bit touchy -- given this shortened holiday week and thin trading as folks begin heading for the beach. And, in fact, we will be observing the holiday here at Hill And Street News – so that our next report will be on Monday.
As a final note, we do hope that readers will glance over the China report below. It reflects much of what we have been alluding to over several months.
Have a safe and wonderful holiday!
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