Hello traders everywhere! Adam Hewison here, President of INO.com and co-creator of MarketClub, with your video update for Thursday, the 30th of January.
Reporting After The Close Today
Amazon.com Inc. (NASDAQ:AMZN) reports earnings after the close today and analysts are looking for a beat on sales. Amazon.com, Inc. operates as an online retailer in North America and internationally. Technically, Amazon is in a trading range bound by $408 on the upside and $380 on the downside. Before getting positive on Amazon again, the stock would have to make new all-time highs over $408 a share. All will be revealed after the market closes today.
What Is Going On With Apple?
There must be something going on in Cupertino, California where Apple (NASDAQ:AAPL) has its headquarters because surely this stock should be trading higher than where it is right now. Despite inking a deal with China Mobile and Carl Ichan tweeting about his 3.5 billion dollar stake in Apple, the stock of Apple has failed to move higher. The fact that Apple is trading below $500 a share is a big surprise to many market observers. This is a perfect example of buying the story and getting married to a stock and not paying attention to the market action itself, which right now is not too positive for Apple.
The Dow Is Lower For The Month
Even with today's rally, the Dow is down for the month and unless we see an extraordinary rally again tomorrow, it will end the month with a net loss. I will also be looking at some of the technical aspects of the NASDAQ and the S&P 500.
Gold Is Higher For The Month
Despite the sharp sell-off in gold today, this market is up over 3% for the month. I continue to believe that gold is building a large base in order to move higher later in the year. Based on the weekly and daily Trade Triangles, you should be out of the market right now and on the sidelines. I will illustrate in today's video how the Trade Triangle technology works in the gold market.
The Dollar Is Higher For The Month
The Dollar is trending higher for the month against the Euro and is +1.36% for the month of January. I will be taking a close look at this cross today and analyzing just how high can the Dollar go.
Crude Oil Is Flat For The Month
With all the extreme cold weather in January, crude oil looks like it will be closing out the month on a flat note. I will be looking at the crude oil market in detail today to see where this commodity is next headed with the Trade Triangle technology.
Every success with MarketClub,
Adam appears frequently on the following financial news channels as a guest expert. Click on any cable logo to watch Adam's latest appearance.