Market Update July 2nd

Good Morning,

Yesterday the SPY gapped up, consolidated all morning and afternoon, and then pushed higher for another new all time high close. We still remain in a very much intact uptrend, but it wouldn't be at all surprising to see the market take a bit of a rest after 8 out of the last 9 days have been green. This morning we are pointing towards a flat open, but that could certainly change when the employment report comes out at 8:30 AM Eastern. It is also important to note that we are heading into a 3 day weekend with fixed income markets closing early today and all markets closed on Monday. This is likely to be one of the slowest, lightest volume days of the year, and with that we are not going to have a watch list today and will be closing up the screen share at noon. I hope that everyone has a great Independence Day weekend!

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