Hello fellow traders everywhere. Adam Hewison here co-founder of MarketClub with your weekend trading update for the week ending on 7/01/11.
This past week was one to remember.
The equity markets rallied 5.6% for their biggest one week move since 2009.
Also on the move was crude oil which rallied back to a point higher than when President Obama released the 30 million barrels of oil. The cover of BARRON'S had one of the biggest headlines I have seen recently saying "READY FOR $150 OIL?" Sound's like a game changer to me.
Closely following the move in oil was the CRB Index which jumped 2.39%.
One of several things that stand out to us this week was the potential creation of a "bullish engulfing line" in crude oil. A higher close this week in crude will confirm that this market has found a bottom
Here's what happened last week in the major markets….
Click on the image to watch the weekend update.
If you haven't watch our 1 PM updates, I recommend you take a look on this blog at some of our earlier postings.
As always, we rely on our market proven Trade Triangle technology for catching the big moves.
Have A great 4th of July !