Look For An Early Bounce Today

June 28, 2023
Author: Peter Stolcers, Founder of OneOption

Buyers have been waiting for a dip and support. Now they have both.

PRE-OPEN MARKET COMMENTS WEDNESDAY – The calendar is light. Durable goods orders were better than expected (1.7%) and the third estimate of Q1 GDP and the PCE are not going to move the market much. We heard from Powell last week in his testimony before Congress and any Fed speak won’t be much of an influence (the next statement is at the end of July). The only PMI of interest is from China since they do not report a flash PMI. That is also not likely to move the market much.

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