The market voted yesterday on the election results with the biggest one day drop for the year. Did yesterday's market action indicate a major change in direction or was it just a blip in a longer term bull market?
Regardless of the eventual outcome for the major markets, every investor needs some "Obama Insurance". Here is how "Obama Insurance" works:
Let's begin by looking at where we closed last Friday in the major markets and where we are trading now. Bear in mind these markets can change direction pretty quickly and we will really want to watch where we close this Friday (11/9).
|S&P 500||Closed Last Friday at: 1,414.20||Trading Today at: 1,392.00|
|CRUDE OIL||Closed Last Friday at: 84.85||Trading Today at: 84.78|
|EURO||Closed Last Friday at: 1.2836||Trading Today at: 1.2725|
|GOLD||Closed Last Friday at: 1,677.63||Trading Today at: 1,725.00|
|COPPER||Closed Last Friday at: 3.4775||Trading Today at: 3.4515|
|SILVER||Closed Last Friday at: 30.85||Trading Today at: 31.84|
The markets are telling you that gold and silver are trading higher now than they were in the previous week. That in and of itself isn't enough to buy "Obama Insurance". The gold and silver charts currently indicate that the long-term monthly trend remains positive for both of these metals, while the intermediate-term weekly trend continues negative. Wait for the intermediate-term weekly Trade Triangle to turn green and then pile in and get some "Obama Insurance" because you are going to need it!!
The future promises to be exciting, one offering smart investors lots of investing and trading opportunities. I am comfortable saying that MarketClub's Trade Triangle technology, which has an amazing record, can help you maintain and grow your nest egg in the months and years ahead.
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.