Tag: Gold (FOREX:XAUUSDO)

Stocks Struggle To Find Direction

Posted on by The INO.com Team

Hello MarketClub members everywhere. As we start the week, it looks as if the market is still trying to digest what the Federal Reserve said in its meeting minutes last week. All eyes will be on the housing, PMI and wage numbers due this week as well as commentary for the regional Fed Chiefs. The Regional Fed chiefs for St. Louis, San Francisco, and Philadelphia are due to speak Monday, while Chair Janet Yellen is due to deliver remarks on Friday.

MarketClub's Mid-day Market Report

The big mover of the day is Apple Inc. (NASDAQ:AAPL). It's jumped over 1.5% on rumors of large iPhone 7 orders and after Taiwan's Economic Daily News reported that the iPhone maker has asked suppliers to prepare production for a new version of its smartphones.

Key levels to watch this week: Continue reading "Stocks Struggle To Find Direction" →

Fed Rate Anxiety Fades As Existing Home Sales Rise

Posted on by The INO.com Team

Stocks are on the rise Friday, with the S&P 500 bouncing from a seven-week low. The rise has been led by the technology sector with the NASDAQ gaining 1.35 percent. It also seems that anxiety over the potential interest rate hike by the Federal Reserve as early as next month is starting to wain a bit.

MarketClub's Mid-day Market Report

Sales of existing U.S. homes rose more than expected in April, suggesting the economy continues to gather pace during the second quarter. The National Association of REALTORS said on Friday that existing home sales increased 1.7 percent to an annual rate of 5.45 million units. March's sales pace was revised slightly higher to 5.36 million units from the previously reported 5.33 million units.

Key levels to watch this week: Continue reading "Fed Rate Anxiety Fades As Existing Home Sales Rise" →

Stocks Bounce Ahead Of Fed Minutes

Posted on by The INO.com Team

The stock market has headed higher after a sluggish start this morning. All three major averages have bounced back into green territory late this morning, with financial shares leading the way as investors are awaiting the release of the Fed minutes this afternoon and looking for any clues of a June interest rate hike.

MarketClub's Mid-day Market Report

Gold (FOREX:XAUUSDO) has pulled back and is trading lower coming under pressure from a U.S. Dollar (NYBOT:DX.M16.E) rally that has pushed it to a new 2 week high.

Key levels to watch this week: Continue reading "Stocks Bounce Ahead Of Fed Minutes" →

Dollar Jumps After Retail Sales Report

Posted on by The INO.com Team

Hello MarketClub members everywhere. The Dollar has rallied while U.S. stocks have fluctuated this morning. The reason for the jump is retail sales; retail purchase jumped in April to the highest levels in a year. This indicates that consumer spending could help the U.S. economy recover from its early-year slowdown and possibly give the Fed a reason to raise rates next month.

MarketClub's Mid-day Market Report

Purchases climbed 1.3 percent last month, beating the economists estimates of a 0.8 percent gain. It's the biggest gain since March 2015 and comes after a 0.3 percent March drop that was smaller than previously reported, Commerce Department figures showed Friday in Washington. Continue reading "Dollar Jumps After Retail Sales Report" →

One Of These Markets Is Going Down Big Time

Posted on by The INO.com Team

Hello MarketClub members everywhere! Not sure if you live in the rain soaked mid-Atlantic states, but enough already with the rain! It is depressing. The reason I bring this up is the erratic and somewhat depressing action in the stock market.

On Tuesday we watched a massive rally in stocks and everyone was singing happy days are here again. Yesterday, reality and gravity came into the market and took away practically all of Tuesday's gains.

As I said on Monday when I talked about "The Next Big Swing", I believe that the markets are putting in a major top as both the S&P 500 and the NASDAQ have all flashed red weekly Trade Triangles indicating to be out of the market and on the sidelines.

Apple Inc. (NASDAQ:AAPL)
So sad about Apple, here is a stock that was the "apple of every investors' eye" and now this once super stock is now in the dumpster. The question is, with all the Trade Triangles red and pointed lower for Apple, is it just a false signal or is this really the start of a bigger problem? I believe that Apple has some serious hurdles ahead and as the weeks and months pass these problems will come to the forefront.

The biggest problem for Apple right now is that it is not seen as an innovative growth company. Can anyone say "Nokia" and not wonder what happened to this once-leader in the mobile phone market? The next problem Apple has, and this could well be its number one problem, is perception. Apple is just not perceived as a "cool" company anymore. Apple's third problem is expanding its market for its cash cow iPhone. It very much looks like China wants to put the kibosh on any further Apple iPhone sales as they really want to sell their own smart phones (so much for free trade).

The next big psychological level for Apple is $90.00. Once we see around $89, you will see many more investors throw in the towel. On Thursday the 28th of April, Carl Icahn stated on CNBC that he no longer owned any Apple stock. MarketClub's Trade Triangles exited Apple six days earlier at $104.88. I am guessing Mr. Icahn exited around the same time before he made his big announcement on CNBC.

Daily Chart of Apple Inc. (NSDAQ:AAPL)

Continue reading "One Of These Markets Is Going Down Big Time" →