Hi Folks.

Sorry for the lateness of this eval. I had a rough weekend and it seems to be carrying over into this morning.

The good new is we can expect dramatically better trading conditions his week.

Just not today.

MONDAY: Two fed clowns speak at 9 this morning. No way to know if/when they say anything of value that might roil the markets. So Monday we play by ear.

TUESDAY: PPI report set for 8:30. The lesser of the two major inflation gauges (CPI is the other) this one normally comes out after the CPI and has less of an impact. Since PPI gets to be first this month we might actually see some real price action for a change.

WEDNESDAY: Now we get CPI at 8:30 eastern. This one the Fed watches closely so the market does also. Even if PPI comes out way off projections, I expect fireworks if CPI does the same. So be prepared. And price action will carry over into Indices market open at 9:30, so today will make up for the last 2 weeks of early summer doldrums. A lot of other reports on tap today as well but CPI is the only one that really matters.

THURSDAY: A lot of stuff. None of it is important. After two consecutive days of Inflation numbers, this is typically a day when the market catches its breath. So in spite of a number of entries on the calendar, I expect trading to be quieter than the previous two days.

FRIDAY: Nothing. CB Leading Index number might as well not exist as far as the market is concerned and a Fed clown closes out the week. Might as well take the day off. I do.

See you next week.

Jeff