Everyone is waiting for something to happen

The market is quiet and basically without direction. It appears to be waiting for some guidance from the US Fed and the ECB. The Bank of Japan has indicated that growth is improving. Meanwhile, the dollar continues to strengthen slowly against the euro.

The US economy remains in the doldrums, indicating that interest rates are far from being implemented. Talk of rate hikes has not diminished, however.

There is nothing on the calendar for anybody to get excited about, which adds to the quiet market conditions.

The negotiations for Greece to get more relief from its creditors seems to be going nowhere fast but that seems to be having little impact on the markets.

Stay long dollars.