Bears are out in Europe, China Growth Slashed lower, ahead of EU Summit Weekend

The James’ Report:  Day Trading Strategies for Professional Traders

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Do you know who YOU are as a professional trader?  No…It’s not your name, your physical appearance, or even your state of mind.   The only constant in our lives is change itself.  Since our body and mind is always changing, we need to remember that as traders we must follow our hearts and trade the markets that make the most sense to us RIGHT NOW, using the tools we use the most effectively, understanding this will likely change over time.  Starting today take note to how YOU operate the best?  What tools work best for you?  How do you learn the easiest?  What are the things in your daily routine that cause frustration or slow you down?  Take the time today to learn a little more about the most important trader in your office…You.

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News from Around the Globe Overnight:

– EU seeks to move towards fiscal union at upcoming summit
– Market is beginning to accept that the process of European integration will be a slow and bumpy ride
– Cyprus become fifth European bailout victim 
– Moody’s downgrades 28 Spain banks from 1 to 4 notches sighting govts reduced ability to support them.
– Focus shifts to Italy after banking sector asked ECB to reactivate SMP program
– German Gfk consumer confidence Survey rises in July 
– Month-end rotational trade into equities from bonds tried to help overall sentiment 
– Spain Bill yields surge in auction as bid-to-cover slumps

– European equity indices are trading off of the session’s highs following bill auction results out of Spain, after opening mixed. In the banking sector, Italian and UK banks have underperformed so far on the session. Overall, the focus for markets continues to be the Thursday/Friday EU summit. 

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