Tuesday May 22nd, 8:00AM EDT
Expert Charts, Trading Tips and Technical Analysis from INO.com
I’m sure we’ve all heard the term “Sell in May and go away!” As the dog days of Summer hit us, we want to know….
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Best,
The MarketClub Team
Hello traders everywhere! Adam Hewison here co-founder of MarketClub with your 1 p.m. market update for Thursday, the 21st of July.
Stocks traded higher for the day despite the nagging unemployment problem here in the US. This week marks the 15th week in a row that jobless claims for unemployment benefits have been over the 400,000 mark. This is not exactly great news for the White House.
A second bailout for Greece seems to be finished and a done deal. Does that mean the first bailout didn’t work? Does anyone in Europe really think that this second bailout is going to work? There’s no way the Greeks can or will pay back these loans, of that I’m pretty certain.
Our Trade Triangle technology scores again as we have been long equities based on this technology for quite some time. It proves that you don’t have to read the news, you don’t have to listen to news and you don’t have to catch the latest rumor to be a winner in the market. The market tells you what it wants to do, all you have to do is have a program like MarketClub’s Trade Triangles to point the way!
Now, let’s go to the markets and see how we can protect and grow your money in 2011.
Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Wednesday, the 20th of July.
Right after we had finished our 1 PM update, the President came on TV and indicated that the gang of six had come to some magical debt agreement. That was all that was needed to rally the equity markets and push down the price of gold and silver. Let me just say this, it’s not a done deal until it’s a done deal and I don’t think this deal will get done.
The action in gold and silver today and the fact that they are both higher on the day right now, indicates that yesterday was probably a buying opportunity in both of these metals.
Let’s just recap what has really happened. Nothing has changed, we still have major, major debt problems ahead of us. As I mentioned in yesterday’s 1 PM update, I wanted to see how the markets closed for the day. I think today is going to be even more important, as we are in the middle of the trading week and we still have the potential for a lot more news to come out. Last week we closed at 1316 on the S&P 500 and for the month we closed around 1320. We’ll be watching to see if the S&P 500 will keep its upward momentum or have another push down to the 1300 level.
Now, let’s go to the markets and see how we can protect and make your money grow in 2011.
Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Tuesday, the 19th of July.
The Bulls battled back today and forced many of the Bears to cover their short positions in the equity markets. However, nothing has changed, nothing has been resolved, and we still have the same unresolved debt problems.
Gold and silver continue to hold well and look to be purchased on pullbacks from current levels. Crude oil popped to the upside today and remains in a broad trading range with no clear-cut direction.
All in all it’s been a pretty boring session so far on a Tuesday. What I really want to see is how these markets close today, and more importantly, how they close for the week. If we have a lower close for the week in the equity markets we would consider that to be an early sign of a potential bear market.
Now, let’s go to the markets and see how we can protect and make your money grow in 2011.
Today’s Guest Post comes from George Leong, Senior Editor of Lombardi Financial. “An Investment Strategy For Higher-risk Periods” originally appeared on the Profit Confidential website on July 15th, 2011. In this piece, Leong gives a brief analysis of the S&P 500, as well as explains a strategy to combat the unsure market conditions. Enjoy with our compliments and please visit this page to obtain complimentary access to a complimentary report, “A Golden Opportunity for Stock Market Investors” as well as a free e-letter subscription to Lombardi’s Profit Confidential.
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The current market bias is positive, but there’s some concern about the chart. The S&P 500 breached its 50-day moving average (MA) on Monday before rallying, but has failed to mount any sustainable rebound, currently stuck around its 50-day MA. My concern is that failure to edge higher could drive the index back lower and continue the sideways channel in existence since February.
The absence of any strong catalyst could leave the broader market comatose for the summer months.
On the S&P 500, there is key support around 1,250. A break below would be bearish and see a move below 1,200. I expect the support to hold. On the upper end, there is strict resistance around 1,362. A strong break above could drive additional gains towards 1,400. [Read more...]
Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Monday, the 18th of July.
Well, Monday is here and we are no closer to solving the debt problem than we were last week. Europe is still a disaster and that’s been reflected in the bank stocks today.
I was thinking this weekend… If everybody moved out of Greece, what would happen to the debt and who would pay it? I know it sounds weird to say, but the reality is with the euro zone you do have the freedom to work in other countries.
The world has changed, yet the politicians still think it’s the same game. In the world of the Internet you can be based practically anywhere that’s advantageous to you. In an example like Greece, which is so far underwater it seems they are never going to be able to bail themselves out… Why not just walk away from the debt? One could stand to reason that most well educated Greeks have the mobility and the language power to move to other countries in the euro zone and work.
Today’s markets reflect what I was saying all last week in regards to the bank stocks which are under tremendous pressure today. BAC is down over 3% and other bank stocks don’t look much better.
Gold and silver moved dramatically high today with gold topping the $1,600 an ounce level before some profit taking came in to the market. Silver is up close to 3% as I write this, and is moving higher and faster than gold percentage wise. So let’s take a look at these markets in more detail and workout some target zones for gold and silver, as well as the banks.
Now, let’s go to the markets and see how we can protect and make your money grow.
Hello fellow traders everywhere. Adam Hewison here co-founder of MarketClub with your weekend trading update for the week ending on 7/15/11.
The precious metals markets continue to be on fire with silver jumping another 7% on top of a 8.35% gain the previous week. Gold closed the week on an all-time high on Friday. Both gold and silver are reflecting the general fear that is prevalent in the markets. For the week gold put in a solid + 3.19% performance. You should be long one trading unit of gold based on our 52-week, weekend trading rule. We’re expecting this market to open higher on Sunday in the Far East, and also on Monday when the markets open here in the States.
The S&P 500 was not blessed with gains for the past week and dropped just over 2% for the week. We now have very clear battle lines drawn between the Bulls and the Bears. The 1276 level on the S&P 500 is where the 200 day moving average comes in this week. In addition to the 200 day moving average, we also have a long-term trend-line going all the way back to March of 2009. These are two key levels to watch this coming week.
In other markets the CRB and dollar index showed very little movement as they continue to be range bound. Crude oil appears to be treading water at the moment and has significant resistance overhead at $99.50 basis the August contract.
Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Friday, the 15th of July.
The beat goes on and on and on. I am of course talking about the debt ceiling talks which are absolutely imperative to the U.S. I think that most Americans are just getting disgusted with both parties and I think come election time we will see some major changes.
This should be a very interesting Friday with Gold at or close to its highs and Silver higher for the day so far. The equity markets just seem to be hanging on by their fingernails now and I expect we will see further pressure on the markets as the day wears on. Unless there’s some major news that comes out I can’t imagine these markets rallying from their current levels.
The opportunities to make money right now are huge. We’ve outlined clearly in our past reports the line in the sand for the S&P 500 and of course we remain positive on the precious metals. One trade you might want to consider this weekend is Gold. If Gold closes at or close to its highs for the day we want to go home with an additional trading unit. If this happens it will qualify as a 52 week high trade rule which means you go home long Gold and take profits on Monday or Tuesday. Use tight money management stops on this position.
Now, let’s go to the markets and see how we can protect and make your money grow. [Read more...]
It’s time for the U.S. Government to sit down and get serious about the Debt Ceiling, but we want to know….
Loading ...As always, we would love to hear your thoughts on this or even where you think things may go from here. Be sure to share your thoughts in our comments section!
Best,
The MarketClub Team
Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Thursday, the 14th of July.
Will he or won’t he implement QE3? That is the question on everyone’s lips. I am of course talking about the Federal Reserve chairman, Ben Bernanke. I don’t think it’s going to matter too much because the market is acting exactly how we expected it to act. The market action for the past three days has very negative connotations in my opinion.
The plain truth is the market has been unable to hold or sustain any rallies after its big down day on Monday. I think tomorrow, being Friday, a lot of traders will be very nervous about holding long positions based on what may or may not happen with the debt ceiling over the weekend.
Gold and silver continue to move to the upside and are in strong hands. This weekend could be the perfect weekend trade for these two markets. Target zones are higher than current levels for both gold and silver.
Another concern we have are bank stocks, which continue to look weak. Bank of America, symbol BAC, could be a perfect candidate for a 52 week rule trade on Friday. Watch that stock carefully on Friday.
Now, let’s go to the markets and see how we can protect and make your money grow. [Read more...]
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