Hello MarketClub members everywhere. It would seem as though the markets are stuck in a twilight zone not knowing whether to go up or go down. This has been the case for a few months now and when we go through periods like this in the market, one has to say to oneself, "be patient and wait for the opportunities to come up," they always do.
Today's keyword is patience.
The way to look at the markets when they move into a choppy period is to look at the big trends. The odds favor a resumption of a market's major trend. It doesn't always work out that way, but if you're betting with the odds, it is the way to go.
Here are the major trends for each of the major markets according to the Trade Triangle technology based on last Friday's close.
DOW (INDEX:DJI): Major Trend Positive - Intermediate Trend Negative - Position: Sidelines
S&P 500 (CME:SP500): Major Trend Positive - Intermediate Trend Negative - Position: Sidelines
NASDAQ (NASDAQ:COMP): Major Trend Positive - Intermediate Trend Negative - Position: Sidelines
Crude Oil (NYMEX:CL.V16.E): Major Trend Negative - Intermediate Trend Negative - Minor Trend Negative - Position: Short
Gold (FOREX:XAUUSDO): Major Trend Positive - Intermediate Trend Negative - Minor Trend Negative - Position: Short
As I said at the beginning of this commentary, patience is indeed the key word. Jumping into a market just to do something is not the best thing to do. If you're trading the markets just for excitement than it tends to be stacked against you. However, if your trading the markets with a passion and purpose and more importantly a game plan then you will do well.
In today's video update will be looking at all of these markets and analyzing areas of interest and concerns.
Stay focused and disciplined.
Every success with MarketClub,