Temporary relief rally is over, volatility expected to rise next week.

As said in my Sunday's article, http://www.freefdawatchlist.com/2012/06/where-is-dow-heading-between-jun-4th.html we saw nice rally of 500 point in 4 day. Do visit us back to read the next part of where dow is heading in the most important week ahead of Greece election and Fed fomc meeting. Remember the problem from Europe is not over and volatility is expected to rise next week. This was a temporary relief rally which is over.

Based on the chart, tomorrow market is expected to open lower.

For Bullish sentiment to continue: Dow needs to break 12524, followed by 12570, while S&P500 needs to break 1318.

For Bearish sentiment to continue:  Dow needs to break 12398, followed by 12332, while S&P500 needs to break 1308 followed by 1304.

Earnings before market open:FGP, HURC, KMGB, PNY, RLOG, YPF

Earning after market close:  CO

Earning Before Monday market open: CRED, EDN, MFRI, MVC, NOOF

After hours big gainer: FRAN, MGPI, VTSS, BGFV, GPOR, DWA, MOH, KMI, MTU, RSH

After hours big loser: COO, ELLI, FLT, MCP, FTK, NFG, RENT, STEI, XXIA, UBNT, CIGX, HGSI

Premarket Gainer: OCC, CTFO, FRAN, HGSI, MOLX, FB, NBR.

Premarket loser:ATPG, PRGS, AMRN, RYAAY, MPEL, GOLD, BIDU.

Stocks for Day trading: UVXY, XIV, SVXY, TVIX, GLD, TZA, FAS, FAZ, FB, TPX

Stocks for Option Trading: CAT, XOM, SPY, QQQ, IBM, PCLN, AAPl, WLT, PCX, GOOG, MT.

Economic calendar

International Trade 8:30 AM ET Expected is -49.3B, while prev month was -51.8, The international trade balance has posted a deficit almost continuously since the 1980s. Any trade deficit is a drag on U.S. GDP growth, but a smaller deficit adds to growth, while a larger deficit decreases GDP growth. (Watchout movement is transportation stocks)

Wholesale Trade 10:00 AM ET 0.5% is expected, prev month was 0.3% higher is bullish sign, lower is bearish sign.