Global Stock Markets: What Is and What Could Be

By Todd Harrison  JUL 29, 2013 10:30 AM

A look back and a gaze forward.


Editor's Note: Todd posts his vibes in real time each day on our Buzz & Banter.

Good morning and welcome back to a flickering pack.  I was out-of-pocket last week, enjoying a few days with my family in San Diego before returning to the East Coast on Wednesday for some non-trading work matters. 

I tried to take a legitimate break from the tape but kept abreast of the top-line headlines as old habits are hard to break. While the S&P (INDEXSP:.INX) declined a grand total of 44 cents during the five-session span, there was plenty of motion under that movement. 

Some top-line vibes, in no particular order:
All in all, the market was extremely resilient last week; it had several opportunities to sell off but it held its ground in thin summer trading (it's hard to put the "volume litmus test" to work during this slow summer period, but the reaction to news is always more important than the news itself).  Meanwhile, Americans are more confident about the economy than at any time since July 2007, according to the University of Michigan, as we’re smack-dab in the middle of what Jeff Saut and others describe as a seasonal danger zone. 

For my part, I've got a few shekels on the snake eyes while respecting both sides of the market ride.

Good luck today.


Twitter: @todd_harrison

Position in SPY.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at

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