Author: The INO.com Team

Stocks Up For The Fourth Day

Posted on by The INO.com Team

Hello traders everywhere. Stocks are on the rise for the fourth straight day which is mostly due to signs of progress in U.S.-China trade talks which has given the market optimism. Officials from the United States and China ended their talks in Beijing that lasted longer than expected and officials said details will be released soon, raising hopes that an all-out trade could be averted.

Hopes of a trade deal between the world's two largest economies, strong U.S. jobs data and Federal Reserve chair Jerome Powell's dovish remarks on interest rates have helped lift the S&P 500 9.7% from the 20-month low it hit around Christmas, but we're still waiting on a green weekly Trade Triangle which would indicate a move to a sidelines position. The NASDAQ just issued a new green weekly Trade Triangle moving to a sidelines position. The DOW is currently about 54 pts away from issuing a green weekly Trade Triangle, will we see that today?

green weekly trade triangle

Crude oil is up for the eighth session issuing a new green weekly Trade Triangle today at $51.78 indicating that a short-term long position is in order. Traders shrugged off bearish data on U.S. stockpiles focusing on OPEC production cuts and U.S.-China trade talks. Saudi Energy Minister Khalid al-Falih on Wednesday reaffirmed that production will fall to 10.2 million barrels per day this month, down from an all-time high 11.1 million bpd in November. Saudi Arabia will export 7.2 million bpd in January and 7.1 million bpd in February, according to Falih. Continue reading "Stocks Up For The Fourth Day" →

Weekly Futures Recap With Mike Seery

Posted on by The INO.com Team

We've asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Gold Futures

Gold futures in the February contract settled last Friday in New York at 1,283 an ounce while currently trading at 1,286 up slightly for the week, but ending on a sour note. The monthly employment report was released this morning showing that we added over 300,000 new jobs which were higher than expectations. That shows you how strong the U.S. economy is at this time despite the fact of huge volatility in the stock market as that sent gold down about $8 which isn't too bad in my opinion as I remain bullish. I have been recommending a bullish trade from the 1,252 level land if you took that trade place the stop loss under the ten-day low which now has been raised to 1,257 as the chart structure will improve on a daily basis starting next week. Gold prices touched the 1,300 level as I still think we can get up to 1,350 in the coming weeks ahead as strong demand has come back into the precious metals as I am currently recommending bullish positions in silver and platinum. Gold futures are trading far above their 20 and 100-day moving average as clearly the trend has turned higher so continue to play this to the upside and if you're not involved, wait for some further price pullback to enter into a bullish position
TREND: HIGHER
CHART STRUCTURE: IMPROVING
VOLATILITY: LOW
Continue reading "Weekly Futures Recap With Mike Seery" →

The Men Who Stare At Charts

Posted on by The INO.com Team

gold/silver ratioI was going to look around to see if I could find a media article out there (complete with a TA trying to sound really important) that would be appropriate to be made fun of in our little Men Who Stare at Charts series. But then I decided to create my own chart, stare at it a little, post it and talk about it (hopefully not too self-importantly).

Introducing an all too busy long-term (monthly) view of the Gold/Silver ratio, along with some key nominal markets.

The Continuum in the lower panel symbolizes the deflationary backbone that has been in place for decades. I maintain that this is a firm marker against which the Fed inflates money supplies, manipulates bonds and by extension manipulates inflation signals. We have been on a theme that like Jerome Powell or hate him, he knows exactly what he is doing because to do otherwise (promote ongoing bubbles on top of bubbles) would, in essence, end the Fed’s racket, as symbolized by a real breakout in long-term yields. Continue reading "The Men Who Stare At Charts" →

Market Rallies On Strength Of Jobs Report

Posted on by The INO.com Team

Hello traders everywhere. All three major indexes are looking to finish the week on a strong note and post back to back winning weeks for the first time in nine weeks. The reason for the surge after a terrible day on Thursday, jobs.

Nonfarm payrolls jumped by 312,000 jobs last month, the largest gain since February, as employment at construction sites snapped back after being restrained by unseasonably cold temperatures in November.

jobs

There were also broad gains in hiring last month. Data for October and November were revised to show 58,000 more jobs added than previously reported. The economy created 2.6 million jobs last year compared to 2.2 million in 2017.

Average hourly earnings rose 11 cents, or 0.4%, in December after gaining 0.2% in November. That lifted the annual increase in wages to 3.2%, matching October's rise, from 3.1% in November. The average workweek increased to 34.5 hours in December from 34.4 hours in November. Continue reading "Market Rallies On Strength Of Jobs Report" →