Please look at Mark Guthners Post Short Squeeze Takes the S&P Higher for a good explination of the market movement. Prices are near the top of my risk range and the market went up a bit to far to fast in my opinion. So be careful putting on new longs here.
Happy Monday. Good Luck out there this week.
Global Spotlight
Squeezing Mexico. After three days of negotiations, U.S. President Donald Trump tweeted late on June 7 that the tariffs he had intended to launch against Mexico starting June 10 were “hereby indefinitely suspended.”
Chinese Retaliation on Display. Trump reiterated this week that he would decide on imposing 25 percent tariffs on all remaining Chinese imports after he meets with Chinese President Xi Jinping at the G-20 summit in Japan on June 28-29.
The Search for a New Brexit Leader. The United Kingdom’s governing Conservative Party will start the process to appoint its new leader, and therefore prime minister, on June 13.
Making Fort Trump a Reality. Polish President Andrzej Duda will meet with Trump at the White House on June 12. Poland is eager to lock in U.S. security guarantees while it has the White House’s attention and will be looking to advance an agreement on a permanent U.S. military presence in Poland.
A Violent Transition in Sudan. Sudan’s political transition away from longtime leader Omar al Bashir turned violent this week following a brutal crackdown on protesters outside the army’s headquarters in Khartoum.
Stratfor.com
Economic Calendar
Briefing.com has a good U.S. economic calendar for the week. Here are the main U.S. releases.
Briefing.com
Last Weeks Numbers
Review Last weeks numbers here.
