Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Wednesday, the 24th of July.
Yesterday, Apple (NASDAQ:AAPL) surprised analysts with better-than-expected iPhone sales, and indicated that it expects a "busy fall" with new products.
Apple CEO, Tim Cook, said in a statement, "We are laser-focused and working hard on some amazing new products that we will introduce in the fall and across 2014."
In after-hours trading, the market voted with a dramatic 5% rally in Apple (NASDAQ:AAPL). If you haven't already watched my special report first published on 07/13/13 on Apple, watch it here.
Has Gold Run Out Of Gas?
I will be taking a closer look at Gold (FOREX:XAUUSDO) to see whether the Gold market has run into an important resistance level of $1,340. This could be where gold turns back down and we could see a correction back down to the $1,300 level. I will have in-depth coverage of gold in today's video report.
Dollar Weaker, Euro Stronger
With all of our Trade Triangles in a positive mode, I expect to see this market trend higher in favor of the Euro. The next level of resistance I see for this cross is the upcoming level of 1.3400. I would not be opposed to taking some chips off the table just before the 1.3400 level is hit.
Recent Special Videos:
Five Professional Trading Rules
Listen and Learn
Three Easy Ways
Fundamentals VS Technicals
Early Warning System
S & P 500 (SP500)
Have a great trading day,
Adam appears frequently on the following financial news channels as a guest expert. Click on any cable logo to watch Adam's latest appearance.