Markets started off weak from uninspiring jobless claims. The Supreme Court’s affirmation of Obamacare further pressured the market most of the day. European news continued to influence our trading. Late news of a growth pack and more Merkel rumors gave us a ferocious rally before quarter end. However, we still lost ground and the short term trend weakened. As summer vacation hits, volume is very thin and we have to be extra careful of reversals. We are trapped in a 20+ point range for the pass few days, perhaps a trend day is due for Friday.
