Adam Hewison here, co-founder of MarketClub, with your 1 p.m. market update for Tuesday, the 14th of June.
Okay, here's what's happening right now in the major markets ...
SP 500: -60. This market remains in a broad trading range with resistance coming in beginning at 1296 and 1305 and finally 1315 which represents a 62% Fibonacci retracement. Major downside support is at 1250.
During today's update, we'll be looking at how the major markets are faring today, Monday, June 13th, 2011, but also looking at what the Trade Triangles are telling us are big movers are for this week.
S&P (-60) looking at support around 1250
Silver (-70) oversold
Crude Oil (+65) with choppy action
Dollar Index (-85) bearish
CRB Index (+90) with resistance at 350
President of INO.com
Co-founder of MarketClub
** Note:All of the MarketClub updates will now be available through INO TV. Though you do have to register for INO TV, it is completely FREE and best of all, it will let you find all of MarketClub's videos in one place. You only need to register one time and then you have access forever!
I am sure we all want to hit the ground with our feet running after the long weekend. Although, as much as we like to "think" we know where the markets are headed, it is never a good idea to put your guard down. Get the reassurance you need from MarketClub's "Trade Triangle" technology.
In today's video I discuss which markets you may what to keep a close eye on. Find out what is hitting new highs, and what's reversing.
I was so excited about the markets today that I decided to jump the gun and update you early! Did the dollar move down as predicted by our MarketClub trend lines? Did gold meet our target level of 1,500? You will have to tune in for the answers, folks. What I can tell you, is that the S&P is seeing some major resistance with its potential "reverse head and shoulders" trend lines.
With the long holiday weekend approaching, you do not want to miss today's final update. Join me LIVE at 7PM ET tonight and be ready for the post-holiday markets on Monday!
In today's afternoon market update, you'll find out how the dollar is faring this week as well as the market causing a lot of us to feel the pinch at the pump, the oil market. I also check in on the S&P, the Reuters/Jefferies, precious metals and what I think the markets will do after the President makes his speech this afternoon.