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Here’s a brief look at the pre-market action…
- Yet again, markets are waiting on news out of Greece, with some optimism being shown on a deal agreement within the next day or so.
- The latest reports however state that any tentative agreement reached still must be blessed by the Greek Parliament on Sunday or Monday.
- The Asian indices were up nicely, with the Asia Pacific MSCI up +1.3% and Shanghai +2.43%.
- Europe is up around +0.5-0.8% off some economic data which was mixed but viewed as a net positive as not indicating imminent harsh recession.
- U.S. futures have been in a tight range overnight but tilting to the positive side as we write this.
- There is no major economic data due out today but a 10-year bond auction in the afternoon and some continued earnings reports but a slower pace today on those.
- The market continues in an overbought condition which can remain for some time but a pullback would not surprise either bulls or bears at this point.
Good Trading!
David W. (aka The Underground Trader)
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