The stock market has headed higher after a sluggish start this morning. All three major averages have bounced back into green territory late this morning, with financial shares leading the way as investors are awaiting the release of the Fed minutes this afternoon and looking for any clues of a June interest rate hike.
Gold (FOREX:XAUUSDO) has pulled back and is trading lower coming under pressure from a U.S. Dollar (NYBOT:DX.M16.E) rally that has pushed it to a new 2 week high.
Key levels to watch this week:
S&P 500 (CME:SP500): 2,099.89
Dow (INDEX:DJI): 18,084.66
NASDAQ (NASDAQ:COMP): 4,915.00
Gold (FOREX:XAUUSDO): 1,288.21
Crude Oil (NYMEX:CL.N16.E): 46.84
U.S. Dollar (NYBOT:DX.M16.E): 95.10
Every Success,
Jeremy Lutz
INO.com and MarketClub.com
Gold and United State's dollars are traded in futures on indexes similar to FOREX and NYBOT.
Dow entered in quite dangerous Zone. After forming multiple Tops, and failed to cross or even sustain at Higher levels, I think, it southward journey towards 16,000 is started, and it may break such important psychological levels of 17,000 and 16,000.
One must very clearly point-out that now Stocks are become free from any so called "Fed Effects"
And tank when the crazy news gets out.. China must be ecstatic.