On the economic front, initial claims were a little better then expected and the Trade Deficit was lower then antecipated which implies that growth estimates will probably be revised lower. All in all the market is overbought and prone to correct and technically a correction will fit the graphs nicely creating a nice double top on the S&P 500.
Big match on Flushing Meadows last night. Federer needed 2 tie-breaks to defeat the powerful forehand of Robin Soderling. It was a shame that the match didn`t go to a fifth set because Soderling was really rising up to the occasion. Del Potro, Cilic, Nadal and Gonzalez will play the remaining quarter finals today.
Have a nice trading day.
Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage.
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