Dow 10,836.15 -52.68
Nasdaq 2,398.76 -16.48
SP500 1,167.72 -6.45
10-YrBond 3.83% +1.49
Dollar was up over a point, and US indices and metals were down. More reports of European troubles with Portugal's debt downgraded. Consider if Portugal is like a State of the EU, what happens when debt of States of the USA are downgraded?
Huge down move in USA long-term debt. Interest rates higher will hurt housing market because loans will be less affordable.
If gold holds 1070, then it has set up a nice base to move higher. A test of 1025 is possible.
GLD 106.25 -2.07
SLV 16.30 -0.42
PTM 18.84 -0.32
XLE 57.05 -0.30
XLF 15.91 +0.01
VXX 22.08 +0.57
MVG 7.76 +0.11 Mag Silver Corp. 52 week high. Look to buy pullback.
TLT 89.27 -1.66. iShares Barclays 20+ Year Treas Bond. Down on big volume. Pushing into lows from last May.
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