Hello traders everywhere. Adam Hewison here, co-founder of MarketClub, with your 1 p.m. market update for Wednesday the 22nd of June.
Yesterday it was Greece, today it's Ben Bernanke and the FED. What is really going on with the equity market is that no one has strong feelings either on the upside or downside . This neutrality is reflected in our +55 reading indicating that the market remains in a trading range. Today we want to do something a little bit different, I am going to go through each of the markets quickly, and then zoom in and focus on two markets crude oil and silver. I think you'll find our analysis quite interesting and informative.
Hello traders everywhere, Adam Hewison here co-founder of MarketClub with your 1 p.m. market update for Friday the 17th of June.
I guess the most common expression I'm hearing is "kick the can down the road.". It would seem as though politicians the world over are pretty much the same. None of them wants to face the truth that there is no more money. So what do they do they, "kick the can down the road."
And once again the taxpayers have to come up with the money. Lending more money to Greece is the height of insanity in my opinion simply because how can they possibly pay back the first tranches of money that was already lent to them? But that's what's happened today; Merkle and Sarkozy made concessions and basically declared that "happy days are here again," but are they really? I was talking to a good friend of mine this morning who is one of the smartest people I know and I asked him point-blank, what do you think of the global and US economy? Here is what he said to me, "It is a time to be cautious and guarded." Those were his exact words. I'll let you think about that.
So okay enough of what my smart friends think, let's look and see what the market thinks about everything.