Squawk Morning Brieifng: News Slowdown

We remain in Earnings season and have some important companies reporting this week, but overall the pace of reports from large, index-moving companies is beginning to slow. Likewise, we still have a few economic releases this week, anchored by international trade figures on Thursday, the calendar is light compared with last week. That means that any catalyst for movement this week will likely be something unscheduled or, alternatively, be the lack of any news.

Markets are overbought and testing the upper edge of rising channels from the June 4th lows. As we enter Summer holiday season, markets might need some help to stay aloft in this area. The wave count also allows for us to be near a turn down, but it also gives us clear indications of what we need to see in order to build confidence in a turn. We’ll want to keep waiting to observe the signals discussed in our videos before announcing the arrival of a change in trend.

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Elliott Squawk delivers thorough market preparation every morning in time to take action during the trading day. By combining up-to-the-minute futures activity with traditional end-of-day analysis from cash indices, you receive analysis based on the latest conditions as the trading day sets to open. Each issue of Elliott Squawk goes beyond traditional Elliott Wave analysis because we recognize that trading Elliott Waves is much more than just looking at the most likely current count. Squawk will prepare traders to assess the market action as it unfolds by answering questions that any Elliott Wave trader should consider:

• What price levels and wave motions would confirm an expected move?
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