Monday June 3 Daily Market Assessment

No News is Good News

It's unlikely that anything of significance will occur until Tuesday, when Ben Bernanke is expected speak at an international monetary conference. His mildly optimistic comments about the U.S. economy early Tuesday morning should send the markets up again. But, in the meantime, I expect more side-to-side action, with a possible bias to the downside on Monday. Oil stocks look good for the summer, as do blue chips in general.

Summary: Short-term Bullish, Long-term Bullish