Hello MarketClub members everywhere. The back and forth between the two presidential nominees is quite extraordinary, and I believe it is reflecting its uniqueness on the market itself. No one quite knows what to expect or what the outcome is going to be. Some polls show Hillary in the lead and others show Trump leading. Then we have this whole FBI and Homeland Security looking into protecting the integrity of the voting system - I never thought I'd see this in my lifetime, but we are living through an extraordinary time in history.
Having said all that, let's take a look at the markets and what they are doing.
Today is the last trading day in August. It is also "Hump Day" and the middle of the trading week. I always like to look at the end of the month as a reassessment period as to where the market is closing in reference to last month's close. I will be doing that in today's video.
DOW (INDEX:DJI): The DOW remains in a positive uptrend based on the Trade Triangle technology. Hold all long positions.
S&P 500 (CME:SP500): This index is in a general uptrend as defined by the Trade Triangles. I would expect to see this index show strength towards the end of the week. Hold long positions.
NASDAQ (NASDAQ:COMP): This index is in a general uptrend as defined by the Trade Triangles. I would expect that this index will begin to show strength towards the end of the week. Hold long positions.
Crude Oil (NYMEX:CL.V16.E): With a red daily and green weekly Trade Triangle you should be on the sidelines and out of this market at the moment.
Gold (FOREX:XAUUSDO): With both the daily and weekly Trade Triangles in a negative mode you should be short or out of this market at the moment.
Alert: please remember that markets can change quite dramatically especially on the last day of August when the markets are quite thinly traded. Always have areas in your mind that if the market penetrates those levels, you will exit your position. This is called discipline and over the long term it will save you and make you money.
Stay focused and disciplined.
Every success with MarketClub,