Author: The INO.com Team

Stocks Waver Ahead Of Earnings

Posted on by The INO.com Team

Hello traders everywhere. The stock market opened in positive territory Monday morning riding the coattails of a rising Chinese market only to slip into negative territory shortly after the open once corporate earnings started rolling in.

The Shanghai Composite Index rose more than 4% to score its best day since March 2, 2016. The quick move higher comes after Chinese authorities pledged to support China's economy and offset the negative impact of U.S. tariffs. They made that pledge after reporting weaker-than-expected economic growth for the second quarter. Despite the big daily move, Chinese stocks are still down sharply for the year. The Shanghai Composite Index has fallen about 20% in 2018 and is down over 21.4% in the last twelve months.

Earnings

Some disappointing earnings reports have not helped the market's mood ahead of what is expected to be the heaviest earnings week this season. Investors are nervous about the outlook for future growth due to concerns over trade and tariff's, rising costs and other factors. Continue reading "Stocks Waver Ahead Of Earnings" →

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 December contract settled last Friday in New York at 1,222 while currently trading at 1,231 an ounce hitting a ten-week high breaking out of an eight-week consolidation last week. I'm looking at a bullish position if prices trade at the 1,220 level while then placing the stop loss under the 10-day low standing at 1,186 as the risk would be $,3400 for a large contract or $1,100 per mini contract plus slippage and commission. The monetary risk at this time is too much in my opinion and I'm waiting for a pullback as volatility is also starting to increase. I'm currently recommending a bullish silver position which continually grinds higher in a very methodical manner. Gold prices are trading above their 20-day and right at their 100-day moving average as the U.S. dollar has been flip-flopping over the last couple months with no trend having minimal impact as I do believe prices have bottomed out. The chart structure is starting to improve on a daily basis. However, problems with Saudi Arabia could bring money flows back into the sector so look to play this to the upside on any price retracement while risking 2% of your account balance on any given trade.
TREND: HIGHER
CHART STRUCTURE: IMPROVING
VOLATILITY: HIGH
Continue reading "Weekly Futures Recap With Mike Seery" →

Indexes Fail To Break Away From 200-Day MA

Posted on by The INO.com Team

Hello traders everywhere. It's hard to believe but as I write two of the three indexes are in positive territory for the week. Mid-week it looked like the stock market may be in rebound mode, only to fall close to the levels that we saw last week at weeks end and ultimately unable to break away from the 200-day moving average. The indexes look to be set up to retest the low levels from last week, and that could form a double bottom, much like the one we saw in April of this year.

The 200-day MA has proven to be a strong level of support this year rejecting several attempts by the market to break it, only to see the market bounce higher after each attempt. Will that trend continue?

weekly trade triangle

As crazy as it might seem even with this week's volatility both the S&P 500 and DOW are looking to post weekly gains of +.2% and +.4% respectively. However, the NASDAQ isn't playing along, and it is posting its third weekly loss in a row standing at -.4%. Continue reading "Indexes Fail To Break Away From 200-Day MA" →

Global Tensions Add Stress To Tense Stock Market

Posted on by The INO.com Team

Hello traders everywhere. After what felt like a small positive victory on Friday has quickly subsided after we woke up this morning to news of growing global tensions with Saudi Arabia and yet another sell-off in the tech sector, a falling dollar, and treasuries.

The dollar is trading near a two-week low against its peers after U.S. retail sales disappointed in September. West Texas crude oil traded around $71 a barrel, less than a dollar away from issuing a red weekly Trade Triangle, amid tensions between Saudi Arabia and the U.S. over the disappearance of a prominent journalist and gold is headed toward its fourth advance in five days.

200-day moving average

The DOW was in positive territory for most of the morning trading above its 200-day moving average, the only index to do so, but has slipped into negative territory this afternoon. Both the S&P 500 and NASDAQ are both trading below their 200-day moving average after opening the week in negative territory. While the NASDAQ has already triggered a new red monthly Trade Triangle the S&P 500 is holding on at the moment, but that could change if it continues to trade below the 200-day Moving Average. Continue reading "Global Tensions Add Stress To Tense Stock Market" →

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.

Silver Futures

Silver futures in the December contract is currently trading at 14.64 unchanged for the trading week continuing its low volatility as prices have been stuck in the mud over the last month or so. I have been recommending a bullish position from around the 14.50 level & if you took the trade continue to place to stop loss under the contract low which was hit on September 11th at 13.96 an ounce. Gold futures hit a two month high in this week's trade as the U.S stock market was sharply lower as funds came out of equities and into the gold market as a flight to quality as gold is used as a safe haven as that has helped support silver prices here in the short term. Silver futures are trading above their 20 day, but still under their 100 day moving average which stands at 15.47 and for the bullish momentum to continue we have to break the 15.00 level in my opinion as I think that could happen in next week's trade so stay long and continue to place the proper stop loss. I think the volatility will come back into this market as historically speaking silver is very volatile, but that has not been the case in 2018 as I still think prices look very cheap especially compared to gold and crude oil as they are all inflationary commodities.
TREND: HIGHER - MIXED
CHART STRUCTURE: SOLID
VOLATILITY: LOW
Continue reading "Weekly Futures Recap With Mike Seery" →