With the possibility of more defensive positioning ahead of the NFP data, the risk/reward on the long side for US equities this week does not seem as attractive for position traders as it does for intraday traders.

The economy of the US grew at a weaker than expected 2.4 percent in the second quarter, but the first quarter was revised back up to 3.7 percent on the strength of stronger-than-projected inventory rebuilding. But the recession years were revised downward rather significantly for this late in the cycle.

New homes sales will be unveiled on Monday, with the Case-Shiller Index being updated on Tuesday.  Both are forecasted to show modest improvements.

Which 18 stocks are we watching this week?

Can treating a trade as a bet improve your trading?

The thing economists said was nearly impossible actually happened last week.

This surge in the iShares Barclays 20+ Year Treas Bond (TLT) reflects greater-than-expected economic deceleration.

Download Adrian Manz's Around The Horn Intraday Trading Plan PDF for July 30.

Dave Landry takes a one-minute look at the stock market in his video for July 30.

Until the S&P 500 clears the 200-day moving average, traders can expect more of the same wide and choppy price action.