Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Monday, the 25th of July.
Well, here we are again with no end in the debt ceiling problem. I think the markets are just waiting to get this thing resolved one way or another.
When this problem was not resolved over the weekend, the Gold market acted in dramatic fashion and jumped to $1,624 in the Asia. Not exactly a resounding vote of confidence for the US markets or the government.
This is a "flip a coin" type market where whatever comes out of Washington will have an effect on markets. However having said that, we may be coming to an area in the S&P where we are going to have natural technical problems. The S&P 500, in my humble opinion, needs to move over the highs around the 1370 level to really get going on the upside. I am not so sure that's going to happen. Let's see how the market performs today and how Gold and Silver close.
Now, let's go to the markets and see how we can protect and grow your money in 2011.
