A busy week ahead as S+P reverses from a record above 5,500

As covered here on Friday, the S+P 500 index rose to set a new record at 5,523.64. That came after a new record opening level at 5,488.48. The index later rejected a monthly close above that 5,500 level though. As mentioned here earlier, when looking at the price action on the Nasdaq 100, the S+P fell back to post a negative daily close, at 5,460.48. So, just as with the Nasdaq, it formed a shooting star on the candle chart and of course that was also an outside day reversal. Once again, it remains to be seen how that might play out by the end of this week. Ahead of that we have what could be a very busy week, with the US ISM manufacturing report, at 2pm GMT today (services sector on Wednesday), the July 4 holiday on Thursday, UK elections that day too. Then on Friday we have the US monthly jobs report. That is just the main events due, but there is more than that to consider as the week unfolds. Hence, much for all the markets to contend with by the close on Friday evening. Right now though, the S+P 500 is priced to open higher later today, currently at around 5,480