July 6th Weekend Wrap Up

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Friday July 5th

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The U.S. markets were closed from Wednesday afternoon to Friday morning.  We now have 1 day left in this week to trade, and I wouldn't be surprised if many are just taking a 4 day weekend, so we may see light trading.  Let's do a quick review of where our markets stand currently...

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July 3 – Still Running, but only 1/2 day trading in the U.S.

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Yesterday, the theme of my report was  "No major Surprises yet", but it looks like  I may have spoken too soon.  This was GOLD at the close Tuesday.  After selling off sharply $24 & breaking below the 10sma on Monday, it put in another sharp reversal and closed back above it.  We'll discuss this after  taking a look at a few other charts...

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