Schedule for Week of July 5, 2015

It feels like a Saturday ...The key report this coming week is the May Trade Deficit on Tuesday, and the June ISM non-manufacturing index on Monday.Fed Chair Janet Yellen speaks on Friday on the U.S. Economic Outlook.----- Monday, July 6th -----10:00 AM ET: The Fed will release the monthly Labor Market Conditions Index (LMCI). 10:00… Read More

Greek Banks Down to Last €500 Million; Vote for Servitude Takes Slight Lead; IMF Says Greece Needs Another €60 Billion Bailout

Greece RoundupA "yes" vote in favor of servitude has now reached a slight majority according to some Greece referendum polls. How accurate the polls are is an issue. Yanis Varoufakis, Greece’s finance minister, said he would resign if Greeks voted Yes in Sunday’s referendum on the country’s bailout. "I will not sign another extend and pretend… Read More

Going On A Healthy Psychological Diet

It's good advice:  the right foods can be the right medicine.  I recently met with someone who was experiencing feelings of depression and a loss of energy.  Those, in turn, affected his concentration and that interfered with his trading.  It turned out that he had gained significant weight.  His weight gain influenced his sleep quality… Read More

GOLD Elliott Wave Technical Analysis

Gold: A little upwards movement was expected to 1,180 before more downwards movement, but this is not what happened. At the daily chart level, a new low below 1,162.80 strongly favours the bear Elliott wave count ... Recent Commentaries |… Read More

Earlier: Weekly Initial Unemployment Claims increased to 281,000

A quick graph of unemployment claims ... Note: Starting with this release, the DOL is including a table of unadjusted State-level "advance"claims.The DOL reported:In the week ending June 27, the advance figure for seasonally adjusted initial claims was 281,000, an increase of 10,000 from the previous week's unrevised level of 271,000. The 4-week moving average… Read More

June Employment Report Comments and Graphs

Earlier: June Employment Report: 223,000 Jobs, 5.3% Unemployment RateThis was a decent employment report with 223,000 jobs added, although April and May were revised down by a combined 60,000 jobs.Unfortunately wage growth is still weak, from the BLS: "In June, average hourly earnings for all employees on private nonfarm payrolls were unchanged at $ 24.95… Read More