Wednesday, July 27, 2011

Tuesday 07/26: Divergence widens

Markets didn't move much today, and I expect more of this action the coming days. Probably until the 2nd of August, when we will receive more news about the debt ceiling.
What is striking though, while Nasdaq is still sitting near the highs of the year, the Dow and the Russell 2000 both keep losing ground. The S&P tries to hold on, but also lost some points, just not as much as the other two mentioned.
So tech is still strong, not that much of a surprise with all the strong earnings coming out. And if it wasn't for the debt crisis in Europe and the debt ceiling problems in the US, this market would be going much higher.

In the mean time gold and silver are edging higher while oil keeps sitting right under the 100-spot.

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