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Market outlook and correlation Bias

MARKET OUTLOOK

Market outlook and correlation Bias

June 1st 2016
As of London session.
US Dollar: Down at 95.650. The US Dollar is down 228 ticks and trading at 95.650.
Energies: July Crude is down at 48.63.
Financials: The June 30 year bond is down 7 ticks and trading at 164.16.
Indices: The June S&P 500 emini ES contract is down 4 ticks and trading at 2094.00.
Gold: The June gold contract is trading up at 1216.40. Gold is 16 ticks higher than its close.

The dollar is down- and crude is down- which is not normal and the 30 year bond is trading lower.

Asia traded mainly lower with the exception of the Sensex exchange which traded higher.

Economic News and beware of following events
Final Manufacturing PMI is out at 9:45 AM EST. This is major.

– ISM Manufacturing PMI is out at 10 AM EST. This is major.

– Construction Spending m/m is out at 10 AM EST. This is major.

– ISM Manufacturing Prices is out at 10 AM EST. This is not major.

– Total Vehicle Sales – All Day. This is major.

– Beige Book is out at 2 PM EST. This is major.

The Dow dropped 86 points, the S&P dropped 2 but the Nasdaq gained 15. All in all a mixed day. Today we aren’t dealing with a correlated market and our bias is neutral. A neutral bias means the markets could go in any direction.http://icecream.me/a292f96aee1f798127adba382fd11f35