Bloomberg is reporting that durable goods orders fell last month to a 13-year low, putting the odds of a near-time recovery off into the future more.

However, traders focused on some good news in inventories this morning to bid stocks up, but they seem to be very fickle, ready to buy and sell on a moments notice so it is not clear how the market will end up finishing on the day.

In this type of market hard rules and strategies are needed for stock trading, but disciplined traders can prevail through this summer. We still expect the real fireworks are to come for the stock market in the Fall.