FOR MONDAY: (7/18) Rains last week focused south of I-80. That’s expected to change into early next week, according to maps for the next seven days, as milder temperatures begin to give way to heat from the Southwest. Official 6- to 10 and 8- to 14-day forecasts out yesterday show the warmer and drier pattern extending into the last week of the month, though the latest updates this morning dial back the extreme conditions some. Lately the more bearish forecasts tend to manifest over the weekend and cycles suggest as much going into Monday.
Still, we’re open one more recovery but at the moment we think the market will be lower the next few sessions. Gaps on Sunday night are very difficult to trade.
