More Thin Action

Price action had some nervous holes in it last week when illiquid pockets would appear as rotation from June to Sept contracts took place along with sneaky bottom hopes. Commodity action in oil and legitimately in the weather related grains fanned continued notions of inflation. On the other hand, serious predictions of recession were presented to the market by numerous economist considering the general state of the consumer. On the leader board, nothing much was accomplished for the bulls last week as the DJI struggles continued, the 500 chopped, and the NQ100 attempted and failed to fight off the break that began on June 6th. Look for more of the same as the bulls need to avoid taking out last weeks lows.