Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Monday, the 22nd of January.
After the bell today, Google reports its fourth-quarter earnings and it could be a shocker. The stock is very close to its previous highs, and one could argue that it is up against technical resistance. Can today's earnings report overcome the resistance and turbo drive this stock's trend?
We are going to be looking at Google closely today and giving you our assessment and what we think will happen to it based on this afternoon's report. We will also be sharing our thoughts on FaceBook, which could steal a lot of Google's thunder in the months ahead.
On Wednesday, Apple reports its Q4 earnings and this could be another big shocker for the market. With its stock down 27% from the highs, things aren't looking so peachy for this once golden apple. We will cover this stock in our video today.
As you know, we have been bullish on crude oil and we are happy to see that the trend for crude oil continues upward. This morning, the market is very close to breaking over the $96 a barrel level, on its way up to $100.
The Bank of Japan made a bold move on Tuesday evening, jacking up its inflation target to 2%. It also made an open-ended commitment to asset purchases. The move was their attempt to break out of the 20 year deflationary trend that has been dogging their economy for the past two decades. The move was largely reflected today in the Yen, which has been eroding for some time against other currencies.
We also have our take on some early market movers: BBY, WDC, STT, and TRV
Have a great trading day,
Adam Hewison
President INO.com and co-founder of MarketClub
Re your analysis on oil, Huge energy field waiting to blast upwards, Extremely bullish, seems to me, you said that a few months ago when oil had a huge energy base ready to blast up at 104, and it finally dropped like a rock....how is this different? Or is technical analysis a map of the past, rather than a predicter of the future?