Hello traders everywhere! Adam Hewison here, President of INO.com and co-creator of MarketClub, with your video update for Monday, the 16th of December.
This Stock Is A Lemon
Today, I'm going to be looking at the stock of Lululemon (NASDAQ:LULU). This stock reminds me of Crocs (NASDAQ:CROX) as a one-hit wonder. Certainly there has been turmoil in the offices of Lululemon as their founder was moved out of the picture. Technically the stock looks like a disaster and I'll be giving some you projections about how low I think this market can go in today's video.
Let us know what you think of LULULEMON (NASDAQ:LULU) and how low you think it can go. Leave your comments below.
Markets - Bullish Longer Term - Bearish Short Term
The major indices (DOW 30, S&P500) remain in a longer-term bull trends. The intermediate-term trend for these indices remains negative indicating that thee may be more sideways action before the bigger trend resumes and moves higher. The exception to the rule is the NASDAQ, which continues remains in a bullish trend. There are now only eight shopping days left for Christmas, and the question is, are we going to see a Santa Claus rally for the balance of the year?
Trade Triangle Signals For Today
I'll also be taking a last minute look at the recent Trade Triangle scan to see which stocks have given a major trend change signal today.
Tapering Into The Sunset
As Ben Bernanke's term as Fed chairman rapidly comes to an end, I think the chances of any tapering this month are zero. Here we have the perfect TRIFECTA, the holidays, New Year and a new Fed chairman being sworn in. There's no way I can see the FED tapering in the month of December. Ben is planning to ride off into the sunset and enjoy his retirement. I guess it is going to be Janet Yellen who is left to clean up Ben’s big mistakes.
The EUR/JPY - Bullish
On a little bit different slant, I want to comment on the euro/yen relationship. I've been very bullish on the EUR/JPY (FOREX:EURJPY) and continue to be bullish. If you missed my appearance last week on CNBC Asia's show "Cash Flow" you will see what I was saying back then about this cross and the Japanese equity markets.
Every success in the market and 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.