MarketClub's Trade Triangles nailed this stock yesterday and today.

Hello fellow traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Friday, the 16th of March.

Apple launches its new iPad!
We take a close look at the stock through the eyes of our Trade Triangles.

Yesterday we shared with you a new Trade Triangle signal.
That stock is up big today. We show you in today's video where it is headed.

Today's Winning and Losing SECTORS:
CONSUMER GOODS:  -0.28% <<<
SERVICES:  -0.25% <<<
HEALTHCARE:  +0.12%
ENERGY:  +0.85%
TECHNOLOGY:  -0.02% <<<
FINANCIAL:  +0.15%
INDUSTRIAL GOODS:  -0.05% <<<
MATERIALS:  +0.67%
UTILITIES:  +0.12%

3 Stocks on the move today:
National Oilwell Varco Inc (NOV), Noble Corp (NE), and Bank of America Corp (BAC).
Did MarketClub's Trade Triangle technology get it right on these three stocks?

Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology.
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S&P 500 INDEX
BIG PICTURE:  Strong Trend  +100
TRADE TRIANGLES: Monthly = Bullish | Weekly = Bullish | Daily = Bullish

This index is sharply higher for the week and should we close over the $1,400 level, it will be one of the best weeks for the S&P 500 in quite some time.  With a Score of +100, this index is in a strong upward trend. Long-term and intermediate term traders should remain positive on this index. Longer-term we expect this market to move up to the $1,550 to $1,600 level by late May, early June based on our cyclic work. With all of our Trade Triangles green, we are in full bullish mode.
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See suggested S&P 500 trading instruments HERE.
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ONLY 11 Days to go! You can NOT afford to miss this!

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SILVER (SPOT)

BIG PICTURE: Trading Range  -60
TRADE TRIANGLES: Monthly = Bullish | Weekly = Bearish | Daily = Bearish

Should the silver market close around present levels at $32.50 basis the spot market, it will be lowest weekly close in seven weeks. We do not view this as a bullish sign. A 61.8% correction takes this market back down to the $30.40 area on the spot market. With a Score of -60, the silver market is in a trading range. Only our long-term Trade Triangle remains positive on silver. This particular indicator has done extremely well in the past. Long term traders should be holding long positions in silver with appropriate money management stops.
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See suggested SILVER trading instruments HERE.
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GOLD (SPOT)
BIG PICTURE: Strong Trend  -90
TRADE TRIANGLES: Monthly = Bearish | Weekly = Bearish | Daily = Bearish

A close around current levels at $1,656 would be the lowest close we have seen in gold in ten weeks. We still believe this market is headed down to test the $1,620 area, which is close to the 61.8% Fibonacci retracement level of $1,617.34. With a Score of -90, this market is in a strong downward trend. We are expecting gold to be on defensive for the balance of March. Presently we are negative on gold and we expected to trade down to lower levels.  With all three of our Trade Triangles negative, we expect this market to move lower. Long-term and intermediate term traders should be in short positions in gold with appropriate money management.
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See suggested GOLD trading instruments HERE.
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COPPER (MAY 2012)

BIG PICTURE: Trading Range  +65
TRADE TRIANGLES: Monthly = Bullish | Weekly = Bearish | Daily = Bullish

The May copper contract would be slightly higher for the week, should it close at or above the $3.8760 level. We continue to view the longer-term trend in copper as positive. The market action looks as though it has created a large base to move higher in the future. Long term traders should be holding long positions in this index with appropriate money management stops.
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See suggested COPPER trading instruments HERE.
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CRUDE OIL (APRIL 2012)

BIG PICTURE: Trading Range  -60
TRADE TRIANGLES: Monthly = Bullish | Weekly = Bearish | Daily = Bearish

We believe the low that was seen on Thursday, which has good support at the $104 level, is a cyclic low similar to what occurred in early February and the middle of December. If that is indeed the case, we would expect this market to start moving higher next week. We continue to like the chart formation, which we believe will eventually push this market higher until early April. We are looking for crude oil to make its highs probably somewhere in the April, May period.  With a Score of -60, we believe this market is regrouping to move higher later in the month. With our monthly Trade Triangle in a positive mode, we expect to see further gains in crude oil. Long term traders should be long this market with appropriate money management stops.
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See suggested CRUDE OIL trading instruments HERE.
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ONLY 11 Days to go! You can NOT afford to miss this!

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DOLLAR INDEX

BIG PICTURE: Strong Trend  +90
TRADE TRIANGLES: Monthly = Bullish | Weekly = Bullish | Daily = Bullish

We are somewhat surprised to see this index actually lower on the week. After making a new high at the $80.70 area, we reversed sharply and created a dark cloud cover formation. A lower close today would confirm that a interim top has been put in place for this market. A Score of +90 indicates that the dollar remains king, despite today's pullback. We are looking for this market to move higher in the future. Long term and intermediate term traders using our Trade Triangles should maintain long positions with the appropriate stops in place.
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See suggested DOLLAR INDEX trading instruments HERE.
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REUTERS/JEFFERIES CRB COMMODITY INDEX
BIG PICTURE: Emerging Trend  +70
TRADE TRIANGLES: Monthly = Bullish | Weekly = Bullish | Daily = Bullish

This index is lower for the week. However, it is in the confines of a longer-range bullish trade pattern. A move and close over $318 today would be viewed as a bullish indicator. As we mentioned last week, the $314-$315 area is probably a buy at this point in time. Look for pullbacks to be met by good support at that level. Long-term and intermediate term traders should hold long positions in this index with appropriate money management stops.
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See suggested REUTERS/JEFFERIES CRB COMMODITY INDEX trading instruments HERE.
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ONLY 11 Days to go! You can NOT afford to miss this!

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This is Adam Hewison for MarketClub and don't miss my weekend update! Have a profitable trading day.

Take care,
Adam Hewison
President INO.com and co-founder of MarketClub.com

8 thoughts on “MarketClub's Trade Triangles nailed this stock yesterday and today.

  1. How is it that galaxy resourses asx [gxy],who mine lithium in wa,ship to their plant in china,to produce refined lithium.Are in production in next quarter,getting a share price hammering?Also in production next quarter is lynas asx [lyc],a good 12 months ahead of moly corp in rear earth's production,not appreciated?

  2. I found a couple of interesting charts with TT's and good volume on the scan about which I would be interested in your thoughts. One is WLP where a monthly red triangle is followed the next day by a reversal with a weekly green triangle. The other is SLM where weekly and monthly green triangles the same day this week were followed the next day by a bearish engulfing candle which worked off an overbought condition bringing it back to the 18 day moving average, but it still seems to be in an uptrend. I am thinking the former needs to be watched, and the latter bought. Any thoughts?

    1. ok, no thoughts, I will watch them both then and report back on how the TT's and stocks ultimately progress.

      1. I have an observation. Often, the stocks will follow through then consolidate or sometimes reverse trend following a monthly or weekly TT, and at other times will respond immediately to it following through sometimes big time. These are the ones we see on the daily updates almost as a commercial for Market Club. However, they don't always work out like that.

        Also, the monthly TT's often flash buy or sell signals at or above/below BB and Donchian channel tops/bottoms. Some keep going and others pullback and occasionally reverse giving opportunities to use other charting techniques for possible entry points.

        I just can't tell which ones are going to keep running from the ones that don't. Can you offer any rules of thumb, or is this where personal couching enters into the equation?

        I am running the scans for 1 week following the monthly/weekly TT's in an attempt to sort out these out and discern better entry points than at the BB's. The exception to this rule of mine was TBT where I was already long at $18.50 and $19.08, and added to it on the break out at $19.88.

  3. I live in the UK and wonder why you say that brent crude is $104 dollars when it is $125?

    1. Hi Walter,

      Another name for standard crude is West Texas Intermediate (WTI) that trades on the New York Merchantile Exchange. Keep in mind though that if Adam and Jeremy are discussing that WTI will rise from $104 to a target of $120 to $125, then Brent Crude may follow as well with the same spread possibly maintained.

      I do not follow Brent closely enough but do believe the smallest spread between it and WTI in the last year has been approx. $8. That would serve as your potential lower limit target for the move in Brent. Upper limit could be the same percentage move.

      Again, not trading advice. Just offering some insight.

      FM

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