From Walter Pehowich
Markets this morning under slight pressure after gold failed to reach the $1,200 level. Wall Street traders’ wish list for the week was to test the $1,200 level to see if the market would accelerate from there. Thanks to the Far East selling overnight in precious metals, traders look for action in other markets for the time being. Everyone looking to Washington on the debt ceiling discussion for news that might bring a bid to the market again.
Retail sales sluggish as the market becomes range bound. Retail investors still investing in equities as they enjoy a three week rally in the Dow and S&P.