Some very crucial earnings reports coming out tonight and tomorrow and this week in the US. Citigroup, GE, major US banks. Will give the market a direction for Q3. Q3 Guidance and earnings as well as other macroeconomic factors ie. housing market, jobs data will set the mark for the S&P for the coming quarter. Positive data and guidances should give the bulls some tread for the early parts of Q3 in the equity markets.

Should be interesting to see where Gold goes from here. Many remain very bullish on bullion, but only time will tell. I can see Gold breaking the $1300 mark in the third quarter.

JL