Tuesday Has Lost Its Mojo

Tuesday is losing its magic! The U.S. market is down again today. The Bernanke of Japan, Haruhiko Kuroda, said they don’t need anymore stimulus. I have no idea if that’s right but it’s put a damper on our market. The VIX is up to 16.66 which is still pretty low.

The Commerce Department said that wholesale inventories rose 0.2% last month. This is important because restocking of shelves won’t be a major factor in the Q2 GDP report. The first estimate will be out in late July.

Gold is slipping again. The metal seems to have stabilized after its big April plunge. Gold is now around $1,373 per ounce and will soon test recent lows. Gold traders, however, have become very bullish.

This week is still pretty much a snoozer.

Posted by on June 11th, 2013 at 10:26 am


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