This briefing video includes a summary of the previous day’s market activity and structure providing traders an understanding of overall context prior to the opening of the market. Pamela Ludwig reviews what has occurred in the overnight session along with any events likely to impact the current trading day.

If you are a golf fan, I’m sure you heard about Dustin Johnson grounding his club in what Whistling Strait officials deemed a bunker on the 72nd hole of the PGA Championship. Dustin didn’t realize it was a bunker and the penalty for grounding a club cost him a shot at winning the tournament. And, how about the recent story about a guy that drove a ball off the fairway into the rough? When he took his next shot his club struck a rock that created a spark which set off a 25 acre fire. They needed 150 firemen to put it out. Expensive shots to say the least!! You might be wondering why I am mentioning this and what does this have to do with the financial markets?

The Market has decided to head higher too soon; leaving behind a Major Trading Point at 1052.50 that will need to be HIT before I am comfortable saying that this new rally is real. Here are my observations for this past week: