End Of Day Post

The markets finished flat on today’s session as we enter into the July 4th holiday. Since Monday’s sell-off, the markets have been floating higher, but with decreasing volume. This was to be expected going into the long holiday weekend. Even though the markets managed to move off of Monday's close, this still feels like a bear rally here.

With the U.S. markets closed tomorrow, the focus will move to Sunday’s Greek bailout vote. No matter the outcome, it will definitely have an impact on Monday’s U.S. session. Make sure to allow the volatility to settle down a bit before entering new positions.

The results of this vote could create a longer-term market sentiment change; however, Monday’s reaction alone won’t be enough to determine that. We will need to look more towards Tuesday and Wednesday for follow through.

Stay patient on Monday. Entering later in the week can give us a better perspective on market direction, along with better pricing in our options with lower volatility. We will see if the Greek vote moves us out of this range or right back into it.

Mid-Week Outlook

• Bullish: 15%
• Sideways: 55%
• Bearish: 30%

Have a great weekend,

The Maverick Trading Team