The market is likely to succumb to selling on the open today from margin calls resulting from Friday's declines. However, gold and silver were beneficiaries of investors' rush to safety, so they should not accelerate this. Once the margin calls are satisfied, we could see buying from bargain hunters as early as tomorrow, but more likely later in the week.

Note that the Dow Jones Industrial Average closed a mere 34 points below the May closing low of 17,435. A reversal from the Dow's close on Friday could re-establish the trading zone of 17,200 to 17,800 that we've been in since October.

THIS WEEKS MARKET MOVERS

Monday Jun 27	Tuesday Jun 28	Wednesday Jun 29	Thursday Jun 30	Friday Jul 1
Market Focus » International Perspective » Simply Economics » International Trade in Goods 8:30 AM ET PMI Services Flash 9:45 AM ET Dallas Fed Mfg Survey 10:30 AM ET 4-Week Bill Announcement 11:00 AM ET 3-Month Bill Auction 11:30 AM ET 6-Month Bill Auction 11:30 AM ET	GDP 8:30 AM ET Corporate Profits 8:30 AM ET Redbook 8:55 AM ET S&P Case-Shiller HPI 9:00 AM ET Consumer Confidence 10:00 AM ET Richmond Fed Manufacturing Index 10:00 AM ET State Street Investor Confidence Index 10:00 AM ET 4-Week Bill Auction 11:30 AM ET	MBA Mortgage Applications 7:00 AM ET Personal Income and Outlays 8:30 AM ET Janet Yellen Speaks 9:30 AM ET Pending Home Sales Index 10:00 AM ET EIA Petroleum Status Report 10:30 AM ET Farm Prices 3:00 PM ET	Weekly Bill Settlement Jobless Claims 8:30 AM ET Chicago PMI 9:45 AM ET Bloomberg Consumer Comfort Index 9:45 AM ET EIA Natural Gas Report 10:30 AM ET 3-Month Bill Announcement 11:00 AM ET 6-Month Bill Announcement 11:00 AM ET James Bullard Speaks 2:00 PM ET Fed Balance Sheet 4:30 PM ET Money Supply 4:30 PM ET	Motor Vehicle Sales  PMI Manufacturing Index 9:45 AM ET ISM Mfg Index 10:00 AM ET Construction Spending 10:00 AM ET Loretta J. Mester Speaks 11:00 AM ET Baker-Hughes Rig Count 1:00 PM ET SIFMA Rec. Early Close 2:00 ET

THIS WEEKS MARKET MOVERS

Monday Jun 13	Tuesday Jun 14	Wednesday Jun 15	Thursday Jun 16	Friday Jun 17
Market Focus » International Perspective » Simply Economics » 4-Week Bill Announcement 11:00 AM ET 3-Month Bill Auction 11:30 AM ET 6-Month Bill Auction 11:30 AM ET	FOMC Meeting Begins  NFIB Small Business Optimism Index 6:00 AM ET Retail Sales 8:30 AM ET Import and Export Prices 8:30 AM ET Redbook 8:55 AM ET Business Inventories 10:00 AM ET 4-Week Bill Auction 11:30 AM ET	MBA Mortgage Applications 7:00 AM ET PPI-FD 8:30 AM ET Empire State Mfg Survey 8:30 AM ET Industrial Production 9:15 AM ET EIA Petroleum Status Report 10:30 AM ET FOMC Meeting Announcement 2:00 PM ET FOMC Forecasts 2:00 PM ET Fed Chair Press Conference 2:30 PM ET Treasury International Capital 4:00 PM ET	Weekly Bill Settlement Consumer Price Index 8:30 AM ET Jobless Claims 8:30 AM ET Philadelphia Fed Business Outlook Survey 8:30 AM ET Current Account 8:30 AM ET Bloomberg Consumer Comfort Index 9:45 AM ET Housing Market Index 10:00 AM ET EIA Natural Gas Report 10:30 AM ET 3-Month Bill Announcement 11:00 AM ET 6-Month Bill Announcement 11:00 AM ET 52-Week Bill Announcement 11:00 AM ET 2-Yr Note Announcement 11:00 AM ET 2-Yr FRN Note Announcement 11:00 AM ET 5-Yr Note Announcement 11:00 AM ET 7-Yr Note Announcement 11:00 AM ET 30-Yr TIPS Announcement 11:00 AM ET Fed Balance Sheet 4:30 PM ET Money Supply 4:30 PM ET	Quadruple Witching Housing Starts 8:30 AM ET Atlanta Fed Business Inflation Expectations 10:00 AM ET Baker-Hughes Rig Count 1:00 PM ET