We pulled the trigger on the Dow
We have been concerned for some time that the market was in a rotational phase and that some key levels were being tested on the upside. The action today, Tuesday, can only be viewed one way, and that is negative. We do not expect this market to make a miraculous recovery to new highs and would not be surprised if we have seen the highs for the year.
In today's short video on the Dow, we look at potential downside targets that this market may be headed for. One of the key things to remember in trading, and this applies to all markets, is perception. This is why technical analysis plays such an important part in detecting shifts in market perceptions. Our "Trade Triangles" have done extraordinarily well in this environment.
As always you can watch our videos without registration and there are no fees involved.
Enjoy the video and take a moment to comment on this post.
All the best,
Adam Hewison
President, INO.com
Co-creator, MarketClub
Adam,
As a casual daily reader of your site who deeply appreciates your USDX charts, I note that the last prominent coverage your site gave gold was to sell at $1153 (which I didn't do, no worries!). I didn't see any update regarding this recent upleg. Are you still expecting it to slam down below $1153 soon?
Thanks for a useful site!
Kevin
Lou,
Thanks for your well thought out comments.
I am not sure you are aware but we are long gold in both our "World Commodity Portfolio" and our "Perfect Portfolio" We are traders and move with the market that's what traders do.
All the best,
Adam
freddie mac requested another $ 10.6 billion after just receiving $50.7 billion .. add to that the $76.2 billion fannie mae has already received from the government... greece and spain debt so big no one wants their bonds....treasuries ? treasuries that exist get diluted by more treasuries making them worth less all the time ! higher yields mean lower prices ... stock market gets clobbered so what else do they put their money into adam ? GOLD ! HAHAHA GET READY FOR A NEW HIGH SOON.. UP 32 DOLLARS TODAY ADAM ! WE ARE SOOOOOO CLOSE TO A NEW HIGH NOW.....HHAHAHAHAHA RUN AWAY INFLATION IS ALL GOLD NEEDS ADAM LIKE IVE SAID ALL... ITS ALL THESE FUNDAMENTALS AND MORE THAT WILL DRIVE GOLD TO EVEN HIGHER HIGHS THIS YEAR ! ALL THE BEST ! L.SOSA
Spot on baby! Look at us now............gotta love my new geometric shape............triangles!
hey adam
Awesome video on the fibs. Im a big fan as well.. I was trying to look at a chart of the dow 1929-1931. Is it right to compare that time to now. It seems scary but fibs look familiar. Can you do another video drawing the fibs on that chart od the dow during 1929-1932. Thanks again
And on the 10th day god said "let there be Trade Triangle Technology"
;-] Great video Adam!