Hello MarketClub members everywhere. If you live in the United States or you've been following this year's presidential election maybe it's time just to take a deep breath, let it out and relax. Just when you thought things could not get any crazier, they get crazier.
When FBI Director James Comey came out on a Sunday with no less than two days before the election to say that his original decision not to prosecute Hillary Clinton still stands the market went wild moving up almost 1 1/2% overnight. The question is, is this a significant turnaround for the market or just a dead cat bounce?
On the other side of the coin, gold has taken a hit this morning down about 1.4%, close to its original breakout point of $1284.03. It also brings gold back to its RSI support line at 50. While the very short term daily Trade Triangle is negative indicating near-term weakness, the weekly Trade Triangle remains green and will only turn red if the $1250 level is broken. I continue to remain longer-term positive on gold. Continue reading "Just Take A Deep Breath And Relax"
If you haven't been paying attention to the gold (NYMEX:GC.Z16.E) market, you may have missed one of the most interesting moves of the year. As all the major indices have been trending lower gold has been doing just the reverse.
Here are the three positive indicators I see.
1. The weekly Trade Triangle is now green. It triggered on 11/01 at $1281.10
Continue reading "Three Indicators That Say Gold Is Headed Higher"
Hello MarketClub members everywhere. Next week, Amazon.com (NASDAQ:AMZN), Apple Inc. (NASDAQ:AAPL) And Alphabet Inc. (NASDAQ:GOOG) all report earnings. This could be the catalyst to get the market out of the doldrums and the sideways pattern that I've been talking about for what seems like ever.
Yesterday Microsoft Corporation (NASDAQ:MSFT) announced its earnings a beat 76 cents vs. 68 estimates, that was enough to push the stock up above its 1999 highs of $59.97 in after-her-hour ours trading. It would appear that the turnaround efforts for Microsoft are on track under the guidance of Microsoft's CEO Satya Nadella.
The market has been remarkably quiet with most of the noise coming out of the presidential campaign this week.
Once again, MarketClub's Trade Triangles point the way to successful trading. If you are not tracking the Trade Triangles, you may decide to do so after looking at how they are positioned in many of the markets.
Looking at the major markets here are the minuscule changes so far this week (Thursday Closes). Continue reading "Is The Market Waiting Until Next Week To Make A Move?"
Hello MarketClub members everywhere. If you were surprised by the 20% jump by Netflix Inc. (NASDAQ:NFLX) yesterday, you weren't paying attention to the Trade Triangles. On October 3rd the monthly Trade Triangle triggered at $101.27 indicating that the major trend has once again resumed to the upside and that you should now be long this stock. That Trade Triangle signal was a full 15 days before today's big jump.
In today's video update, I will be analyzing Netflix and giving you some upside projections for this popular streaming video service. Continue reading "Were You Surprised By Netflix's BIG Move?"
Hello MarketClub members everywhere. Last week major indices were all lower, the question this week is, are we going to see the indices the Dow (INDEX:DJI), S&P 500 (CME:SP500) and NASDAQ (NASDAQ:COMP) close higher or lower for the week? I thought we would do a poll for members and see what you think of the market.
In today's video update, I'll be sharing with you, some key points that I believe should be watched in all the major indices and also in gold (NYMEX:GC.Z16.E) and crude oil (NYMEX:CL.Z16.E).
This week marks the final debate between Donald Trump and Hillary Clinton and I'm waiting to see how this event is going to shake out in the markets. We also have corporate earnings as well as the Fed to contend with this week. As always I will rely on the Trade Triangles because over the long run they beat everything else.
Stay focused and disciplined.
Every success with MarketClub,