Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Tuesday, the 20th of November.
12 YEAR TREND
For the past 12 years, gold has been in an uptrend by closing higher every year. We have had pullbacks, but for the most part, if you had bought gold at the beginning of the year and held it to December 31st, you would have made money. The question is, can this powerful trend continue through to 2013? Predicting one year into the future is a tricky business for anyone and it is one that we do not engage in here at MarketClub. We prefer to rely on our tried, trusted, and market proven Trade Triangle Technology that has produced consistent results for the gold market over the years.
A move over the $1,738 level, basis spot gold, will indicate that all is not well fiscally in the world. Should this level be breached during this shortened trading week, you should buy gold to protect your purchasing power. This could be in the form of a futures contract, an ETF (GLD or IAU), or physical gold.
OIL FLASHES A BUY TRADE TRIANGLE
Yesterday, January crude oil flashed a buy signal at $89.67. This signal was generated using our successful weekly Trade Triangle strategy. Today's pullback in oil represents a technical buying opportunity .
EQUITIES MUSTER UP A COUNTER-TREND RALLY
Yesterday, we watched a powerful short covering rally take place in the equity markets. While the market action was positive, it should be viewed as a counter-trend rally in a bear market and not the beginning of a new bull market.
HEWLETT-PACKARD IMPLODES ON AN 8.8 BIllION DOLLAR CHARGE!
The news out of HP this morning is not positive as the company is forced to take an 8.8 billion dollar haircut on its purchase of AUTONOMY. The good news at least for MarketClub members, is our Trade Triangle technology really nailed HP this year. A monthly Trade Triangle to exit or get short, kicked in at $25.02 on March 5th and has remained in force ever since. HP is currently trading around $11.88, down over 10% from the close yesterday!
Now, let's go to the markets and see what our Trade Triangles are indicating.
Have a great trading day,
Founder & President INO.com and co-founder of MarketClub.com.
9 thoughts on “Can a 12-year bull market continue in 2013?”
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We still have the MANIA pase in Gold & Silver to play out. The big question is, what will be the catalyst to propell us up to the nosebleed levels of $3000 Gold and $100 Silver? I kinda think when the Bond and Stock Markets blow up, the heard will run to the so called safe investment of Gold & Silver. Some will make a few bucks, but most will be slaughtered when the Mania phase comes to an end. A big military event in the Middle East could also be a nice catalyst. JK
It seems quite difficult even to sustain Gold next year. Gold has allready broken its 200 years Prise Pattern, and now its Looks like Ënaugh, More then Enaugh, this gold buble with burst many many people, with it self.
Can you elaborate, Rakesh ?
Can't even write, how can he elaborate? Nonsense begets nonsense. We are in a 20-year gold bull market at the minimum. Nothing has changed the fundamental reason gold has risen. In fact, it has been exacerbated.
Dear paul and scott,
what i have write has some technical analalytical ground, and if any doubt, check the gold long term yearly chart, and when any prediction is taken on the basis of technical analysis, no other considerations are allowed like 20 years cycle or middle east factor. You should also point-out that i have used words like " it seems quite difficult" and no words like " it will be imposible" so if any up-side lavels crosses, we may found any such higher lavels too, but according to present chart situation, doubt for any further bull run is surely reflecting.
No one understands you.
Cover your short position, 'k' ?
Hye Sparrows 345,
My Dear friend,
Neither i have short, nor long, in Gold, so i have to nothing for worry about, also, what ever i am telling is absolutely without having any sort of my personal interest, and this is the main reason to believe me as a neutral observer.
And as far as peoples understanding is concern, no one was understand me even in 1998 - 1999, when gold was just preparing its historical bull run, and the same i have predicted very well in advance, but nobody was ready to accept or understand my Bull Run predication at that time, just same as at present. this is not falls claim, i am having some documentary evidence of that of my prediction.
ONES AGAIN I TELL YOU THAT UNLESS AND OTHERWISE GOLD CROSS 1815, BULL RUN WILL DIFFICULT TO SUSTAIN, AND IF IT WILL BREAK $ 1815+ 1937 AND 2021 LEVELS, THAN AND THAN ONLY GOLD WILL CATCH SOME NEW HIGHER LEVELS.
Pattern? We don't need no stinking pattern to see that gold will continue to rise until monetary stabilization becomes possible.
How many years that will take is anyone's guess.
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