July 16th Market Flash before NY time


Here is my analysis on the market before New York time.

The 106.65 resistance line is hard to break. Now 107.2 is good level to take profits and there is no strong direction. So I expect range movement around 107.

DAX (German Stock Index) gapped down and has moved flat. SPX is expected to start weak. Today, retail sales and Jobless claim are out; retail sales will be back and jobless claim will continue to decline.

US treasury yields slightly has declined. If todays US stock market is weak, yield will further decline.