AM SET UP

AM DATA Empire State Manuf Index fell 9,4% in JUne vs May 4.4%.....excuse me is this PROOF of a recovery?

WHY WONT THE FED explain where the $100's of BILLIONS went?


Here are the headlines

Obama Financial Reforms Revealed- Reuters
Senior Obama administration officials on Monday said in a newspaper op-ed piece that a landmark financial regulation reform plan to be released this week will target capital requirements, securitization and other problem areas blamed for the global financial crisis.
IMF says worst not over for world economy- Reuters
Oil falls to near $71 as US dollar strengthens- AP
World stocks down as dollar rise hits commodities- AP

WALL STREET regulation doesn't sound like a market friendly set up. It is no secret here we find some weakness surrounding action at the 200 EMA's and prolonged reluctane of the Transports to confirm DOW move.

I have a band gig this PM, may not post until MUCH later or Ties AM take care

D