We often hear the claim that gold producers have not met investors' expectations for the past couple years. While there are many potential reasons for this, one explanation for their underperformance lies in the fact that producers diluted their share structures, leaving shareholders with smaller gains than they would have otherwise harvested.
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
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Co-founder of MarketClub
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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.
Larry Levin is no novice to the markets, in fact he's a pretty well-known by traders worldwide. We've asked Larry to give Trader's Blog readers some tips he uses to find daily support and resistance levels and he gladly agreed. Be sure to comment and let us know what you think and some things you use to find key market levels.
Secret Trading Tip #29 From the Desk of S&P Trader Larry Levin, President of Trading Advantage LLC
How to Determine Where the Real Support and Resistance is Everyday
Understanding support and resistance levels is an extremely important skill in any market, and it's absolutely critical if you plan on trading the S&P and NASDAQ E-Mini markets. Professional floor traders are aware of an entire range of major and minor support and resistance levels before the market opens each day. They also know how to calculate new levels as the trading day progresses. Continue reading "How to Determine Where the Real Support and Resistance is Everyday"→
Last week we talked about a post-election rally and lo-and-behold, we're seeing just that. For every one stock on the NYSE that closed in the red yesterday, 5 closed in the green. In fact, all three stock indices closed at their highest levels of the year.
The question we have for you today is:
Tell us what you see happening in the markets in our comments section below.