Author: The INO.com Team

Hello traders everywhere. Stocks are falling sharply Tuesday experiencing their biggest losses since October after President Trump suggested he may want to delay a trade deal with China until after the 2020 presidential election.

The DOW sank more than 400 points, triggering a new red weekly Trade Triangle indicating a move to the sidelines is in order. The S&P 500 slid 1.2% losing over 37 points, also triggering a new red weekly Trade Triangle. The Nasdaq fell 1.3% but has yet to issue a sell signal, which will come at 8,425.49.

Some stocks of companies with higher-than-average overseas sales exposure underperformed the broader market: Caterpillar slid -2.5%, Intel dropped -2%, and Apple lost -2.7%.

"In some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now, and we will see whether or not the deal is going to be right," Trump told reporters earlier on Tuesday. When asked if he had a deal deadline, he added: "I have no deadline, no ... In some ways, I think it is better to wait until after the election if you want to know the truth." Continue reading "Trump Sinks Stocks With Trade Comments" →

Hello traders everywhere. Bitcoin's price has briefly dropped below $7,000, hitting an intra-day low of $6,785, its lowest level since May 17, 2019, when it hit a low of $6,178. This move lower has wiped out the +30% single-day gain on Oct. 25, 2019, that had pulled Bitcoin out of a long-term downtrend or bear market. Bitcoin triggered a new red weekly Trade Triangle at the beginning of the week, signaling entry into a long-term downtrend and indicating that a move lower could be on the horizon. That was the start of what would be a -15% loss for the week.

What's ahead for Bitcoin? With this move lower Bitcoin is now trading below its 50-day MA, the MACD has turned lower, and the RSI is no below the 30 level which would lead you to believe that a move lower in on the horizon. Our key level to watch will be $9,586.50. A move above that level will trigger a green weekly Trade Triangle indicating a move to a sidelines position.

Stocks rose Friday for the first time in four days after President Trump said China and the U.S. were nearing a trade deal. Trump told Fox News both sides were very close to reaching a trade agreement, nothing: "We have a very good chance to make the deal." His comments came after Chinese President Xi Jinping said Friday that Beijing wants to work for a trade deal with the U.S. but is not afraid to “fight back.” Xi also told a visiting U.S. business delegation that China holds a ‘positive attitude’ toward the trade talks. Continue reading "Bitcoin Drops To Six-Month Low" →

Hello traders everywhere. The DOW hit a record high Friday after White House economic adviser Larry Kudlow said China and the U.S. were getting close to reaching a trade deal trading 120 points higher. The S&P 500 and NASDAQ also hit all-time highs, climbing +0.6% and +0.7%, respectively.

Trade-sensitive names such as Caterpillar, Boeing, Apple, and Micron Technology all rose at least +0.5%. Gold, meanwhile, gained +.60% for the week trading at $1,472.10 per ounce. Crude oil, however, hasn't had the same fate losing -.35% on the week entering a sidelines position, much like gold.

The U.S. Dollar continues to trade right around the $98 level, and we're waiting on a breakout above $98.39 to give us a green weekly Trade Triangle, which would indicate a move to a long-term uptrend. On the flip side, Bitcoin continues to be stuck in a tight trading range, but we could get a move lower if it breaks below $8,363, triggering a red weekly Trade Triangle. Continue reading "Indexes Hit Record Highs On Trade Optimism" →