Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Friday, the 2nd of December.
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Now more than ever, you need PERSONAL ONE-ON-ONE MARKETCLUB COACHING!
The consultation and the call are free. Give us a call at 877–219–1482!
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We are not out of the woods yet ...
Many of the markets we track have moved back into a neutral position, indicating there is no strong upward trend potential in these markets, for the moment. The massive upward movement in the equity markets this week was somewhat tempered with today's early market action. The same can be said for the metals and crude oil.
Now, let's go to the charts and the video and see how we can create and protect your wealth for the balance of 2011.
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S&P 500 INDEX
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BIG PICTURE: Trading Range
Combined Strength of Trend Score = -65
Monthly Trade Triangles for Long-Term Trends = Bearish
Weekly Trade Triangles for Intermediate Term Trends = Bearish
Daily Trade Triangles for Short-Term Trends = Bullish
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See today's S&P 500 Video Here.
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The S&P 500 index remains in a trading range. The cyclicality of the S&P 500 has not been lost on us, and we suspect that we may see this index consolidate and move higher for the balance of December. The Trade Triangles are not confirming the current up move, at the moment. Long-term and Intermediate term traders should either be in cash or continue to hold short positions in this index with appropriate money management stops.
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Suggested S&P 500 Trading Instruments:
Non Leveraged ETF's: (Long SPY) (Short SH)
2 x Leveraged ETF's: (Long SSO)(Short SDS)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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PERSONAL ONE-ON-ONE MARKETCLUB COACHING
Free call - 877–219–1482 - Free consultation.
Watch my personal one-on-one coaching right here.
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SILVER (SPOT)
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BIG PICTURE: Bearish Trend
Combined Strength of Trend Score = -85
Monthly Trade Triangles for Long-Term Trends = Bearish
Weekly Trade Triangles for Intermediate Term Trend = Bearish
Daily Trade Triangles for Short-Term Trends = Bullish
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See today's Silver Video Here.
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This market is still trapped and trend-less and is not out of the woods yet, as it has resistance starting at $33.90 today. Generally speaking, the major trend for silver continues to be negative based on our monthly and weekly Trade Triangles. Our intermediate Trade Triangle turned negative on 11/17. Long-term and intermediate term traders should continue to hold short positions in silver with appropriate money management stops.
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Suggested SILVER Trading Instruments:
Non Leveraged ETF's: (Long SLV) (Short the ETF SLV)
Leveraged ETF's: (Long AGQ) (Short ZSL)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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IS PERSONAL MARKETCLUB COACHING RIGHT FOR YOU?
Free call - 877–219–1482 - Free consultation.
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GOLD (SPOT)
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BIG PICTURE: Bullish
Combined Strength of Trend Score = +65
Monthly trade triangles for Long-term trends = Bullish
weekly trade triangles for intermediate term trends = Bearish
daily trade triangles for short-term trends = Bullish
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See today's Gold Video Here.
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Despite the move up and pullback in gold today, it did not change the status of our weekly Trade Triangle. We remain positive on this market and expect we will see it move much higher in 2012 as inflation kicks in around the world. Long-term traders should remain positive for this precious metal. Intermediate term traders should be out of this market at the moment and on the sidelines waiting for a buy signal with the weekly Trade Triangle.
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Suggested GOLD Trading Instruments:
Non Leveraged ETF's: (Long GLD) (Short the ETF GLD)
Leveraged ETF's:(Long UGL) (Short GLL)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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COPPER (MARCH)
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BIG PICTURE: Trading Range
Combined Strength of Trend Score = -65
Monthly Trade Triangles for Long-Term Trends = Bearish
Weekly Trade Triangles for Intermediate Term Trends = Bearish
Daily Trade Triangles for Short-Term Trends = Bearish
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See today's Copper Video Here.
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Resistance comes into copper today at the top of the Donchian trade channel at $3.63. With today's Chart Analysis Score of -65 score, the market is indicating that it is in a broad trading range. Generally speaking, the major trend for this metal continues to be negative. As stated before, copper generally reflects economic conditions, and as such is influenced by equity prices. Long-term traders should continue to hold short positions in copper with appropriate money management stops. Intermediate term traders should now be on the sidelines.
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Suggested Copper Trading Instruments:
Non Leveraged ETF's: (Long JJC)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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CRUDE OIL (JANUARY)
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BIG PICTURE: Bullish
Combined Strength of Trend Score = +90
Monthly Trade Triangles for Long-Term Trends = Bullish
Weekly Trade Triangles for Intermediate Term Trends = Bullish
Daily Trade Triangles for Short-Term Trends = Bullish
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See today's Crude Oil Video Here.
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The $101.75 area basis the January contract appears to be offering resistance for this commodity at the present time. Crude oil remains the shining star of the commodity world and has become the currency of choice. With all of our Trade Triangles green, giving us a +100 Chart Analysis Score, it would appear as though we are in a strong bullish trend. At the present time all our Trade Triangles remain in a positive mode which is the direction of the major long term trend. Major resistance remains between the $102 and $103 levels. Long-term, and intermediate term traders should be long this market with appropriate money management stops.
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Suggested Trading Instruments:
Non Leveraged ETF's: (Long USO) (Short the ETF USO)
Leveraged ETF's: (Long UCO) (Short DTO)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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IS PERSONAL MARKETCLUB COACHING RIGHT FOR YOU?
Free call - 877–219–1482 - Free consultation.
Watch my personal one-on-one coaching right here.
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DOLLAR INDEX
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BIG PICTURE: Bullish
Combined Strength of Trend Score = +85
Monthly Trade Triangles for Long-Term Trends = Bullish
Weekly Trade Triangles for Intermediate Term Trends = Bullish
Daily Trade Triangles for Short-Term Trends = Bearish
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See today's Dollar Index Video Here.
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The $78.00 area offered enough support to push the dollar higher and above the $78.50 area. The dollar index pulled back earlier today to the mid level of its Donchian trading channel. With two of our three Trade Triangles in a positive mode, we remain bullish on the market. Long-Term and intermediate term traders should maintain long positions with the appropriate stops in place.
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Suggested DOLLAR INDEX Trading Instruments:
Non Leveraged ETF's: (Long UUP) (Short UDN)
Leveraged ETF's: (Long) (Short)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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REUTERS/JEFFERIES CRB COMMODITY INDEX
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BIG PICTURE: Bearish
Combined Strength of Trend Score = -85
Monthly Trade Triangles for Long-Term Trends = Bearish
Weekly Trade Triangles for Intermediate Term Trends = Bearish
Daily Trade Triangles for Short-Term Trends = Bullish
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See today's REUTERS/JEFFERIES CRB COMMODITY INDEX Video Here.
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Based on our Trade Triangle technology, this index is in a bearish trend. We will wait and watch this indicator and our Trade Triangles looking for a sign that the inflation bull is upon us. Resistance is evident at $315, with support coming in between $305 and $310. Our long and intermediate term Trade Triangles remain negative for this index. Long-term and intermediate term traders should continue to hold short positions in silver with appropriate money management stops.
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Suggested REUTERS/JEFFERIES CRB COMMODITY INDEX Trading Instruments:
Non Leveraged ETF's: (Long CRBQ) (Short the ETF CRBQ)
Leveraged ETF's: (Long) (Short CMD)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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IS PERSONAL MARKETCLUB COACHING RIGHT FOR YOU?
Free call - 877–219–1482 - Free consultation.
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HOW TO USE THE MARKETCLUB SCORING SYSTEM:
Chart Analysis Score: 50 - 65 Trading Range
Chart Analysis Score: 70 - 80 Emerging Trend
Chart Analysis Score: 85 - 100 Strong Trend
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This is Adam Hewison for MarketClub and I'll see you tomorrow, right here with your weekend update. Have a great trading day.
All the best,
Adam Hewison
President INO.com and co-founder of MarketClub.com
We know that last week was the biggest week since March 2009. Think about the psychology of that statement for a bit. In otherwords, bulls haven't been this emotionally charged since March of 2009 and it's the smart money that's driving the move.
But, like Adam says, we are not out of the woods yet. Check out that previous resistance zone on the major indices we are at: the top of the trading range. So prudent investors will wait for a breakout of that previous resistance before jumping in.
The -65, weak downtrend, of the S&P 500 means something from a psychology point of view. It means bears have a weak advantage over the bulls. I don't want to place my money on a group (bear/bull) that only has a weak advantage over the other. I want to place my money on a group when it has a strong advantage over the other. In otherwords, the prudent thing to do is to stay back in cash and wait for a more dominant group (either bulls or bears) to emerge over the other. This is precisely what traders are doing as evidenced from the dojis on the major indices as we approach previous resistance.
Thanks regular guy. You are just like me.
I found the info to be helpful, but it's ultimately the users responsibility to use it correctly. Going around calling people fools is foolish as it is. If you lost money using this info, you don't know what you are doing.
Just a message from a regular guy
The ETF Report copyright 2010
Lawrence Sarsoun 321-259-4729
[email protected] Melbourne, Florida
Week of Nov. 21. Happy Thanksgiving, And How To Celebrate Jubilee. Jubilee comes along about every 50 years or so. If I understand it correctly, it is a time when debts are forgiven, when debtors are relieved of their debts, in affect, the slate is wiped clean. So it is quite significant that we should get into the spirit of Jubilee. For it was 1965 when the last of our money was stolen in one of the biggest heist in history. Let me explain.
Prior to 1965, the Federal Reserve (which is NOT Federal, and has no reserves) used to issue notes (definition of a Note – an I.O.U., evidence of debt, evidence that money was borrowed). The notes used to say “This note is legal tender for all debts public and private, and is redeemable in lawful money at the United States Treasury, or at any Federal Reserve bank.” Which your editor attempted to do in 1965. This led me to a search into our money system and culminated in the book, “America’s Monetary Mess”. I found my way to the ultimate explanation of our law, the Constitution, which explained, in rather straight forward English, that our money was to be coin of gold and silver, that the standard of value (what we would use to price our goods and services) was to be fixed, that the Congress was given the power to coin such money, that the States could only use this gold and silver coin for the settlement of debts, and that, therefore, any borrowing by the Congress had to be limited to the coined gold and silver coins in circulation. Issuing of notes in excess of coined gold and silver would be fraudulent and thus illegal, i.e., unconstitutional.
So off I went to redeem my notes. It was curious to me that the government’s Silver Certificates had, at the same time, became inconvertible, irredeemable also. In time, the President would ultimately close the “gold window” to foreigners, so that they, even they, could no longer obtain real money in settlement of our foreign obligations.
Now, this is where Jubilee comes into play. If notes are inconvertible and cannot be redeemed in lawful money, then any so-called loans become suspect. Any mortgage or credit card debt, or ANY borrowing of so-called “dollars” is to be questioned, because we assumed that we were receiving dollars, that a Federal Reserve Note was an I.O.U.
for a dollar. But the definition of a dollar can be found in the Coinage Act of 1792, which established, FIXED, the standard of value, as a silver coin of 371 ¼ grains of Silver, .9 fine, such standard coin to be called by the term, dollar. Did you borrow money to buy your house? Did they indeed lend you dollars? If they lent you notes that were NOT redeemable in dollars, what did you borrow? What did they lend you? Remember, the States can only use gold and silver coins a tender in payment of debts. Did they lend you gold and silver coin?
Now, an aside to see what God thinks about this. His thoughts are in the book of Proverbs, specifically Proverbs 20:10 and 20:23. Diverse weights and measures are where Article one, section 8, clause 5 came from. It was this biblical exhortation that prompted the Founding Fathers to establish what ultimately became the Bureau of Weights and Meaures, which came to be copied on a local level by every State in the nation, and the first Coinage Act. After all, what nation would be so clueless as to allow a group of private citizens (some are even foreigners) to be able to create “money” out of thin air by the mere application of some ink on paper? 1965, huh? Prayer in the schools, the disappearance of God’s Word from the schools?
Let’s think about the days leading up to Jubilee. Do you think, with Jubilee coming, that there would be much lending going on? How about interest rates? Remember the good old days in our country, when the States had laws against usury. If the “money” is dead (or dying), might we not expect there will be a rush to judgment? If God thinks divers weights and measures are an abomination, what might He think of outright fraud and theft?
Now, if your argument is that you did receive something of value in these transactions with these fraudulent pieces of paper, consider this. Did not the Israelites leave Egypt with spoil? Did not the Israelites inherit a land flowing with milk and honey, a land that they had not toiled over or even planted? As an American Christian, I have adopted an interesting approach. When recently ticketed for a seat belt violation, I tendered with my check a query to the clerk, the trooper, and the judge as to how they were managing to be a party to what looked like fraud in violation to their oath to uphold the Constitution? At the store, when I am asked for “dollars”, I simply ask if they will accept Federal Reserve Notes in lieu of dollars, which usually gives me an opportunity to discuss the issue. As we near the end of times, it seems likely that the U.S. currency will be massively debauched, with the result of hyper-inflation and prices on a biblical scale ala the book of Revelation.
I'm not sure... predicting the markets will eventually make a fool out of you. If you get it right the first time, stop... while you still have credibility.
I think one of the challenges is that investors often spend a lot of time on the front end planning their purchase (which is a great thing); However, many of those same investors don't spend the necessary time planning their exit.
I'm curious how many investors who visit here learn to plan their exits as well as their entry points prior to placing their entry trade... it will save investors money and emotion!