safehaven.com / by Jay DeVincentis / June 21, 2012
How to interpret it.
By many counts, the market is getting into over bought territory. If a market can remain overbought, it’s obviously very bullish. Keep an eye on bonds, which are holding this morning, but if they break down further, they’ll support another leg of this rally. My gut isn’t so bullish, but we’ll let the market get us short. So patience is key. Here’s a look at the global markets:
On the economic front, here is the schedule for this week. Pay close attention to the timing of the report and the potential for the markets to make short term reversals at those points.