S&P 500
1886.76
+24.00 +1.27%
Dow Indu
16380.41
+263.17 +1.61%
Nasdaq
4260.40
+43.01 +1.01%
Crude Oil
82.02
-0.04 -0.05%
Gold
1240.620
+4.235 +0.34%
Euro
1.276800
+0.000135 +0.01%
US Dollar
85.141
-0.109 -0.14%
Strong

It's Thursday, but it feels more like Friday in the Markets

Hello fellow traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Thursday the 5th of April.

It's a short week, and we'll show you where we see the markets heading next week.
We show you where we think the markets are headed next week based on our Trade Triangle Technology.

Has gold embraced it's Fibonacci number and begin to base out?
We show you where we think this precious metal is headed in today's video.

TODAY'S MARKET MOVING SECTORS:

CONSUMER GOODS: +0.00%
SERVICES: +0.22%
HEALTHCARE: -0.00%
ENERGY: +0.41%
TECHNOLOGY: -0.33%
FINANCIAL: -0.16%
INDUSTRIAL GOODS: -0.09%
BASIC MATERIALS: +0.34%
UTILITIES: -0.31%

3 Stocks on the move today
Bed Bath  & Beyond Inc (BBBY) PPG Industries Inc (PPG) and Cabot Oil & Gas Corp (COG)
Did MarketClub's Trade Triangle Technology get it right on these 3 stocks?

Now,let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology.
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S&P 500 INDEX
BIG PICTURE:  Strong Trend +85
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bullish | Short-Term = Bearish
MARKETCLUB SCORING: Trading Range (50 to 65) : Emerging Trend (70 to 80) : Strong Trend (85 to 100)

A shortened trading week and a key level to watch is the $1386 level today and next week. With the trading score of +85 this index has once again moved up to go into a strong trending mode. We remain positive on this market until the end of May. Longer-term we expect this market to move up to the $1550 to $1600 level and that could happen by late May early June based on our cyclic work. With our monthly and weekly Trade Triangles green we remain positive on this market.
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See suggested S&P 500 trading instruments HERE.
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PERSONAL MARKETCLUB COACHING
Free consultation, Free call.
Give us a call at: 1-877-219-1482
International: 1-801-341-3981

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SILVER (SPOT)
BIG PICTURE: Emerging Trend -70
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bearish | Short-Term = Bearish
MARKETCLUB SCORING: Trading Range (50 to 65) : Emerging Trend (70 to 80) : Strong Trend (85 to 100)

Yesterday the silver market once again tested the lows that were seen on March 22nd around the $31.15 area. Should this level hole we expect that we will see a recovery rally from that area. As you may recall we were looking for a cyclic low to come in at the end of March early April. With a trading score of -60 the silver market is now in a broad trading range. Only our long-term monthly Trade Triangles remain positive on silver. This particular indicator has done extremely well in the past. Long term traders should now be holding long positions in silver with appropriate money management stops.
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See suggested SILVER trading instruments HERE.
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GOLD (SPOT)
BIG PICTURE: Strong Trend -90
TRADE TRIANGLES: Long-Term = Bearish | Intermediate Term = Bearish | Short-Term = Bearish
MARKETCLUB SCORING: Trading Range (50 to 65) : Emerging Trend (70 to 80) : Strong Trend (85 to 100)

Yesterday the gold market pulled back into a perfect 61.8% Fibonacci retracement. We expect this market to begin to regroup around current levels between $1600 and $1620. With a trading score of -90 the gold market is in a strong downward trend. Look for resistance to come in between $1680 and the $1700 level. With all three of our Trade Triangles negative we expect this market to remain on the defensive. Long-term and intermediate term traders should be in short positions in gold with appropriate money management
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See suggested GOLD trading instruments HERE.
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COPPER (MAY CONTRACT)
BIG PICTURE: Trading Range +65
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bullish | Short-Term = Bearish
MARKETCLUB SCORING: Trading Range (50 to 65) : Emerging Trend (70 to 80) : Strong Trend (85 to 100)

With a trading score +65 this market remains in a trading range. A move and close over $3.95 is needed to develop a strong trend. A close in copper this week over the $3.95 level sets this market up to challenge the $4.25 to $4.30 areas. We continue to view the longer-term trend in copper as positive. The market action looks as though it has created a large base to move higher in the future. Long term traders should now be holding long positions in this index with appropriate money management stops.
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See suggested COPPER trading instruments HERE.
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CRUDE OIL (MAY "E" CONTRACT)
BIG PICTURE: Trading Range -60
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bearish | Short-Term = Bearish
MARKETCLUB SCORING: Trading Range (50 to 65) : Emerging Trend (70 to 80) : Strong Trend (85 to 100)

We are looking at a possible positive divergence for crude oil using the Williams% R indicator. Yesterday's move in the May crude oil gave us a perfect 61.8% Fibonacci retracement for this contract. We expect this market to regroup and consolidate around current levels. Longer-term we remain positive given the fact that our monthly Trade Triangle is in a green positive mode. We are looking for crude oil to make its highs probably somewhere in the April/May period.  With a trading score of -60 this commodity is currently in trading range. Long term traders should remain long this market with appropriate money management stops.
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See suggested CRUDE OIL trading instruments HERE.
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DOLLAR INDEX
BIG PICTURE: Trading Range +65
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bearish | Short-Term = Bullish
MARKETCLUB SCORING SYSTEM: Trading Range (50 to 65) : Emerging Trend (70 to 80) : Strong Trend (85 to 100)

With a trading score of +65 this index is in a broad trading range. to turn all of our trade triangles green this market must first moved over the highs that was seeing around the middle of March at $80.75. Long term traders using our Trade Triangle Technology should maintain long positions with the appropriate stops in place.

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See suggested DOLLAR INDEX trading instruments HERE.
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REUTERS/JEFFERIES CRB COMMODITY INDEX
BIG PICTURE: Strong Trend -90
TRADE TRIANGLES: Long-Term = Bearish | Intermediate Term = Bearish | Short-Term = Bearish
MARKETCLUB SCORING: Trading Range (50 to 65) : Emerging Trend (70 to 80) : Strong Trend (85 to 100)

This market is at the lower end of its Donchian Trading Channel and this would indicate we are going to see support come in around the $305 level. We would not rule out a bounce from these levels as this market is entering into an oversold condition. A close this week over the $312 level is need to reignite this market to the upside and would be a strong bullish signal. Long-term traders should hold short positions in this index with appropriate money management stops.
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See suggested REUTERS/JEFFERIES CRB COMMODITY INDEX trading instruments HERE.
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PERSONAL MARKETCLUB COACHING
Free consultation, Free call.
Give us a call at: 1-877-219-1482
International: 1-801-341-3981

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This is Adam Hewison for MarketClub, every success in trading.
Adam Hewison
President INO.com and co-founder of MarketClub.com

Comments

  1. dennis king says:

    Several Harami's, a sign of trend reversal, started showing up on 4/3, e.g., TBT, SPY, USO, THC.

  2. EVELYN says:

    Was wondering why you are recommending lonterm and shorterm gold traders should be in short positions. If you indicate gold may meet resistance at 1680-1700, would I not be in a long position short term? Thanks..

  3. Today would be a great day to move to the sidelines before the long weekend. Happy Easter to all of my fellow traders!

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