Monday, July 13, 2009

Evening Briefing for July 13th

* MARKET THEMES FOR MONDAY: Market shrugs off weakness in Asia to open firm, then holds above overnight low on selloff before taking off to the upside. We broke out of a multi-day range to the upside and returned to the May/June trading range, increasing the odds that we've put in an important low. Oil continues to show relative weakness; financial stocks were strong. The dollar remains in a relatively tight multi-week range; we saw a bounce in 10-year Treasury rates. Here is a wrap of the market day.

* OVERSEAS/OVERNIGHT NUMBERS: 11:30 PM CT - Japan, retail sales; 3:30 AM CT - UK, retail sales, housing prices, CPI; 4:00 AM CT - Germany, ZEW economic conditions/expectations; 4:00 AM CT - EU, industrial production. Scheduled earnings releases for 7/14 include GS, INTC, JNJ.


-- Will we see greater interest in nuclear power?

-- Worthwhile thoughts on writing a successful blog;

-- A review of the major indexes; where we stand after today's bounce;

-- Good review of ETF strength and weakness;

-- Comprehensive review of the market week through ETFs and statistics;

-- Interesting views on volatility;

-- Excellent overview of the economy.