S&P 500
1988.40
-3.97 -0.20%
Dow Indu
17001.22
-38.27 -0.23%
Nasdaq
4538.63
+6.53 +0.14%
Crude Oil
93.65
-0.54 -0.58%
Gold
1281.11
0.00 0.00%
Euro
1.32415
0.00000 0.00%
US Dollar
82.313
+0.154 +0.20%
Weak

Bulls or Bears - Who Will Win?

Hello traders everywhere! Adam Hewison here, President of INO.com and co-creator of MarketClub, with your video update for Tuesday, the 11th of March.

The Dow Is Balanced

Looking at the Dow Jones Industrial Average (INDEX:DJI), you have half of the stocks in a bull trend and the other half in a bear trend, giving a very mixed picture and somewhat neutral look to the Dow 30. The question is, which side is going to win out, the bulls or the bears? As with any market, I will be watching the Trade Triangles for an indication of this index's next move.

Gold Adjusting To New Levels

After rallying over $150 from the lows that were seen in late December, the gold market has gone into a sideways pattern as it begins to readjust to its new trading levels of $1,320 to $1,360. At the moment, it would look like short-term traders should be out of this market and that long-term traders could hold on to long gold positions. I'm still see the Gold (FOREX:XAUUSDO) moving higher longer-term.

The Dollar Looks Vulnerable

The Euro is trending higher and looks all set to move up and hit the 1.41-1.42 level. I think the Euro is in a strong bull trend and technically the charts support that argument. I expect that any pullbacks to the 1.3750-1.3800 level will be met by strong buying interest.

The Line In The Sand Is $100 For Crude Oil

Both long and intermediate-term trends are positive on Crude Oil (NYMEX:CL.J14.E) at the moment. Short-term traders should be out of this market. The line in the sand for crude oil is the $100 mark and should crude move below that area it would indicate further weakness and additional selling pressure. A move below $100 a barrel for crude would also turn the intermediate-term indicator to the downside. This is an area to watch based on the April contract.

Every success with MarketClub,
Adam Hewison
President, INO.com
Co-Creator, MarketClub

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Adam appears frequently on the following financial news channels as a guest expert. Click on any cable logo to watch Adam's latest appearance.

Comments

  1. Frank says:

    The market is trending sideways and will continue that way or consolidate slightly downward, tight trading range until the end of the quarter. And then BOOM expect the market to explode higher beginning in the week of March 31st - April 4th! Prediction for 2014: Expect Q1 to be flat, Q2 to post positive gains, Q3 to mark a market top, and then Q4 to go very negative with a possible 15 to 20% correction!

  2. Android says:

    CL, "short term traders should be out of this market" only if they are long only traders. Shorties might enjoy a nice move down :)

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