June 14, 2010
Good morning. Snap back week for the market last week, as the market looked at some stronger numbers out of Asia and the run on the Euro subsided somewhat, at least for the moment. The SPY’s finished the week up 2.86 (or 2.7%) to close at 109.68, virtually the same level it closed the Friday before Memorial Day. So we had a fairly violent move to the downside, down to 104.65 last Tuesday, before recovering to slightly higher for the two weeks last Friday. This morning the market looks to extend those gains.