Let's Trade

7/7/21 - Waiting for Fed meeting minutes...


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Markets start the day gapping up but quickly start sliding, perhaps anticipating what the Fed is going to say with their meeting minutes notes from June (released at 2ET). Would NOT recommend being in intra day trades at that time as markets will most likely react one way or the other.

Crude oil price/barrel continues to slide, likely due to OPEC stalemate on how much oil should be produced and exported in the near future. One can only hope this will cause gas prices to go down a bit....

Gold dips a little below $1.8k/oz, nothing too substantial here, same with Bitcoin which is still hovering around $34.7k. However the rest of the crypto market seems to be enjoying the lack of FUD selling, quite a few alt coins have made nice gains over past 24 hours.

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Let's TradeBy Derek Hutson