Stocks Fall On Lackluster Earnings

Hello traders everywhere. The U.S. stock market is posting its most significant decline in 10 weeks after a batch of lackluster earnings reported today. Turmoil over President Trump’s tax reform bill has retaken center stage giving traders reason to take pause.

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Some of the notable earnings today are: Continue reading "Stocks Fall On Lackluster Earnings"

Stock Market Poised To Close At Record Highs

Hello traders everywhere. All three indexes are positioned to post record closes today on the back of a passed budget by the U.S. government and renewed hopes of tax reform. The dollar and Treasury yields are heading higher as President Trump closes in on naming the next Fed chair. Will Janet Yellen, the sitting chairman, survive or will we get a new chair? Check out INO.com Contributor George Yacik's article on the looming decision.

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Meanwhile, sales of previously owned U.S. homes increased unexpectedly in September, showing demand is stabilizing in the aftermath of hurricanes Harvey and Irma. The National Association of Realtors said on Friday existing home sales rose 0.7% to a seasonally adjusted annual rate of 5.39 million units last month. August’s sales pace was unrevised.

Economists polled by Reuters had forecast that sales would fall 1% to a rate of 5.30 million units last month. Sales were down 1.5% from September 2016, the first year-over-year decline since July 2016.

Key levels to watch next week: Continue reading "Stock Market Poised To Close At Record Highs"

Stocks Rise At The End Of A Volatile Week

Hello MarketClub members everywhere. After a volatile week, the market seems to have resumed its upward path. The major indexes are finishing up the week on a strong note. While the dollar has suffered, it's worst week in a year trading as low as $97 today, and crude oil is once again above $50 a barrel.

MarketClub's Mid-day Market Report

The Trade Triangles did exit out of our Alibaba trade profiting $9.45 (+9%) on 5/18/17. This exit was brought on by a earnings miss in the early morning hours before the market opened. BABA missed earnings, reporting, and EPS of .64 vs. the estimates of .66. However, they did report a 60% increase in revenue. I believe that BABA has room to move higher and will tell you how to re-enter the trade is you were stopped out like I was.

Key levels to watch next week: Continue reading "Stocks Rise At The End Of A Volatile Week"

Trump Turmoil Drives The Market Lower

The market opened sharply lower today as turmoil around President Trump has increased. Reports of a leaked memo by former FBI chief James Comey spooked traders and is raising questions about whether President Trump tried to interfere with a federal investigation which is only adding fire to news that Trump disclosed classified information to Russia's foreign minister about a planned Islamic State operation. Interesting times indeed!

MarketClub's Mid-day Market Report

Both The S&P 500 and the DOW have issued new red weekly Trade Triangles signaling a move to the sidelines while the NASDAQ remains in a long position.

Key levels to watch this week: Continue reading "Trump Turmoil Drives The Market Lower"

Oil Rebounds as NASDAQ and S&P 500 Hit All-Time Highs

Hello MarketClub members everywhere. Oil has hit its highest price in more than three weeks after it's 5th straight day of gains. Of course, this move is due to Saudi Arabia and Russia indicating that the OPEC-led supply cuts need to last into 2018.

MarketClub's Mid-day Market Report

The Nasdaq and the S&P 500 touched record highs earlier today as a rise in oil prices boosted energy stocks, and investors shrugged off the impact of a global cyber attack.

Key levels to watch this week: Continue reading "Oil Rebounds as NASDAQ and S&P 500 Hit All-Time Highs"