Fed Funds Rate Unchanged

The expected chance of a recession in the next year is 24 percent, up from June’s 15 percent, but still down from May’s value of 35 percent and April’s 38 percent.

Eduardo Mirahyes Says: July 2, 2007 at 8:52 am
In a deflationary recession, gold loses its glitter and reverts to being a commodity like any other…commodities have peaked for this cycle and are on the way down hard from here.
See my archives under “short gold and oil” for some revealing charts. If you follow Jeremy Grantham’s reasoning, all assets except cash are in bubble…including gold.
http://www.exceptional-bear.com/5.html













The Dow Jones industrial average spiked up 2.2% on heavier trade Monday, scoring a follow-through day. That ended the short correction and shifted the market's status back to a confirmed rally.

A follow-through is a powerful rally in one of the major market averages — the Dow, Nasdaq, New York composite or S&P 500. Volume must be heavier than that of the prior session. Ideally, turnover should be higher than average.