Mid-Day Outlook – 6/29/2021

So far, we have had a rangebound snooze-fest this morning. The overnight high had held until a few minutes ago, so the market likely is headed down for some buy orders sitting at yesterday’s high at 4282 (or perhaps lower). Internals are mixed, as we typically find on range days.

If we do head back inside yesterday’s range and fill the small gap higher this morning, look for a pivot from one of the levels identified in the Pre-Market Outlook.

In summary, there is nothing particularly good or bad so far. With nearly six up days in a row behind us, the market could rest today. The next update will be after the close. Having said that, the close for futures just got a bit more complicated now that they will stay open until 5pm EST. We will see how that works out.

A.F. Thornton