Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Friday, the 30th of August.
The U.K. Nixes Their Involvement In Syria, Should The U.S. Go It Alone?
When the vote was tallied last night in the British Parliament, the U.K. effectively dropped out of supplying any military support in Syria. This vote put the Obama administration in a very difficult spot, should the U.S. go it alone or backdown and lose face? Well, according to our poll, almost 77% of our readers voted that the U.S. should not get involved in Syria. So does the administration go against the will of the people? Only time will tell.
At the moment the world has backed Pres. Obama into a corner, if he doesn't do anything the U.S. is going to look weak and if he lob's in a few cruise missiles he is going to look pathetic at best. There is no win-win solution in either scenario.
Let's take a look at the markets and see how they are ingesting all of this information and what MarketClub's Trade Triangle technology is indicating. I'll also be looking at the monthly charts to get a bigger picture of what's going on and see how the various markets are closing out the month. Look for thin trading conditions today as many traders have taken off to enjoy the last days of summer.
I had the good fortune last night to appear on FOXBusiness with Charles Payne, unfortunately my train was delayed and I missed part of the show, but I was able to participate in the second part at 6:40 pm EST. It was a great experience to be on the show with Charles and be back in New York for a 2 hour visit.
Vote In Our Poll On Syria
This is perhaps one of the most important polls we have conducted on our blog. Vote or leave a comment, pro or con on this impending conflict.
Have a great Labor Day holiday everyone,
Adam appears frequently on the following financial news channels as a guest expert. Click on any cable logo to watch Adam's latest appearance.