1PM Market Recap

Posted on by The INO.com Team

Hello traders everywhere, Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Monday the 6th of June.

Here's what's happening in the major markets ...

S&P 500: -70. Only the longer-term monthly Trade Triangle remains intact at this time. Market at the lower end of the Donchian Channel. Neutral - Major Support at 1,295 -1,290.

Silver: +60. This market reached the midpoint of the Donchian channel. The bullish divergence on the Williams %R indicator is now confirmed. Major resistance at $38.80. Near term support at 36.00. Major Support at $34.00.

Gold: +100. All time frames remain positive for this market. The $1,563 is the highest close ever recorded for gold and is resistance. Minor support at $1,540.00. Major support at $1,500, $1,475.

Crude Oil: +65. Trading range. Long term indicator remains positive. Resistance at $102.00 and $103.00 basis July. Choppy market. Bullish divergence confirmed on the Williams %R indicator.

The Dollar Index: -100. The longer term Trade Triangle remaining in a negative position. Index reversed from resistance at the 76.50 level. Resistance now at 75.00 and 76.50. Major support at 73.00.

The Thomson Reuters/Jefferies CRB Commodity Index: +60. Near-term resistance at 350.00. Major support at 335.00. Bullish divergence confirmed on the Williams %R indicator.

Recap on all of my past updates and MarketClub TV episodes here!

All the best,

Adam Hewison
President of INO.com
Co-founder of MarketClub

8 thoughts on “1PM Market Recap”

  1. Yes CL I had the same problem - cut out third of the way in. BTW Adam's 1pm updates are just great.

  2. Glad to see you back adam. I tried to listen to the 6/7/11 live market recap at 1pm and the broadcast stopped part way through and I've not been able to view the entire recap. Has anyone else had this problem? Not sure if its on my end or what.

    Thanks

    CL

  4. Hi Adam,
    I reaally appreciate yur analyses of the markets and eagerly look forward to them. Extremely informative and best of all, very educational!

  6. Adam, I love the manner in which you think through the market with us. You slip in those hunches, and that teaches us to "feel the market." Audio levels: I would pay special attentio to this. Some days great, but on this broadcast it is low. I would rather have to turn my speakers in the computer down, rather than straining to hear.

  7. Regarding CRB - The chart says 90, but Alan said it was 60. What was he looking at? I have noticed this contradiction before and am perplexed. Thank you

    1. Penny,

      That was just a glitch in the system it happens to every company that handles a lot of data.

      The score is currently +75 now on this symbol.

      Thanks for the feedback.

      Adam

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