Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Thursday, the 4th of October.
I would be remiss if I didn't make a comment on last night's debate. If you didn't watch the debate, I think it's universally accepted that Governor Romney brought in his "A" game, while Pres. Obama did not seem up to the challenge.
I mention this only because we made a comment earlier in the week that "politics and markets make strange bedfellows". Based on what the world saw last night, the election just got tighter.
Today, we are seeing the markets vote on the debate and we are seeing a strong movement in equities and in precious metals. It is too early to say if this trend will continue for the rest of the day.
We'd like to hear your thoughts! Be sure to vote on the debate in today's poll.
QUICK TAKE ON THE MARKETS:
EQUITIES: We are sticking to our Trade Triangle analysis and we have an upside target of $1,550 on the S&P 500 sometime next year.
CRUDE OIL: Mixed trend picture, while the long-term trend is positive for crude, the intermediate-term trend remains negative based on our Trade Triangle technology.
EURO: Our Trade Triangles are saying that we are in a bull market for the Euro.
GOLD: All Trade Triangles are green and are bullish on gold.
COPPER: All Trade Triangles are green and are bullish on copper.
SILVER: All Trade Triangles are green and are bullish on silver.
WILD CARDS: "The Fiscal Cliff", Europe, and the Middle East.
Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology.
mitt beat the pants off the interloper. wait till paul makes meat pie outta joe the fool!
another session of 'deer in the headlights is coming up. lol