Market Analysis, Investments and Trades: For Rent

[TraderRich]

FYI, Silver and gold are fast approaching areas of support that might turn out to be the bottoms of their recent drops. For silver I'm watching 27.90 to 26.33 and for gold I'm watching the low just hit about 2 minutes ago at 1555.30. As for the S&P 500 (emini futures contract symbol ES), I think we could see a bounce anywhere from tonight's 1332.25 low to 1320. If crude didn't hit its low today at 93.65 I'm watching the 92.75 - 92.40 area. If it goes that low and loses support there then we could actually get to the low $89 - 88.50 area.

If reversals occur from these areas I don't know yet if they will be "the bottoms" or if we'll just get a bit of retracement before heading down some more. This is an election year so I don't anticipate that the markets will be allowed to go down too much more, although we may sit rather flat over the summer and get a bump back up sometime in August/September going into the election.