Author: The INO.com Team

Stock Market Rebounds After Weak Open

Posted on by The INO.com Team

Hello traders everywhere. After a weak Tuesday open the stock market was bailed out by a surge in the tech and energy sectors. The tech sector has shrugged off growing concerns over trade and federal regulation led by the FAANG stocks which are all in positive territory led by Apple which is posting a +2% gain. The jump by Apple is related to analysts at UBS raised their price target to $250 from $215, citing the potential growth of the company's services business.

Trade worries continue to linger as President Trump's threat on Friday to slap tariffs on nearly all Chinese imports was met with a statement from China that said it would approach the World Trade Organization next week for permission to slap sanctions on the United States due to its non-compliance with a ruling in a dispute over U.S. dumping duties.

Stock Market Rebounds

The energy sector is getting a hurricane boost as hurricane Florence is bearing down on North and South Carolina. Florence is expected to make landfall on Thursday and will be the largest hurricane to make landfall in that region in over 60 years. With that news, traders jumped on crude oil and gasoline pushing oil up +2.5% and gasoline up +2.3%.

Key Levels To Watch This Week:

Continue reading "Stock Market Rebounds After Weak Open" →

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 is currently trading at 1,202 after settling last Friday in New York at 1,205 an ounce down about $3 for the trading week as prices are still consolidating the recent downdraft that has occurred over the last several months as I remain bearish. If you are short a futures contract continue to place the stop loss at 1,221 as the downtrend line remains intact as I still believe that we will retest the August 16th low of 1,167 in the coming days ahead as the U.S. economy is strong as we added another 201,000 jobs last month as I still see no reason to own gold. The 10-year note is now yielding 2.94% as the Federal Reserve is probably going to continue to raise interest rates which is also fundamental bearish indicator towards gold prices as I remain bearish the entire sector as it looks like silver could hit a 9-year low in the coming weeks ahead so stay short. Gold prices are trading under their 20 and 100-day moving average as the trend remains to the downside as I still think there could be significant room to run as prices still look expensive especially compared to silver historically speaking. The U.S. dollar remains strong as I still believe we will touch the 100 level in the coming months ahead which will have a negative influence on prices as gold fundamentally and technically speaking doesn't have anything going for it at this time.
TREND: LOWER
CHART STRUCTURE: IMPROVING
VOLATILITY: LOW
Continue reading "Weekly Futures Recap With Mike Seery" →

Stocks End Week Lower

Posted on by The INO.com Team

Hello traders everywhere. The weak finish by the stock market in August continued this week ending with all three indexes in negative territory. The S&P 500 is down almost 1% at -.97, the DOW is down -.33% and the NASDAQ suffered the worse loss of the three losing -2.1% as tech witnessed a significant sell-off, most notably in the social media segment.

Stocks End Week Lower

The U.S. Dollar has bucked its recent trend this week by gaining +.36% on the week making that its first positive week in a month. However, oil and gold followed the overall markets and lost -3.31% and -.53% respectively.

But the biggest loser of the week was Bitcoin, which lost -10.5% on the week. One reason for the sell-off was news in the middle of the week that Goldman Sachs delayed the launch of a Bitcoin trading desk for their customers.

Key Levels To Watch Next Week:

Continue reading "Stocks End Week Lower" →

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 have traded lower for the 4th consecutive trading session at 14.55 an ounce continuing its bearish momentum as the U.S dollar is up 45 points trading off of a four week low. If you are short a futures contract place the stop loss above the 10-day high which was hit in Tuesday's trade at the 15.07 level as an exit strategy as it looks to me that we will retest the August 16th low of 14.40 soon as prices are still trading under their 20 and 100-day moving average as clearly the trend remains negative. Silver prices are stuck in a three-week trading range consolidating the recent sell-off in price. I still see no reason to own any of the precious metals as the U.S. stock market is hitting another all-time high this week. I'm also recommending a bullish S&P 500 trade which continues to roll along on a daily basis as money flows continue into U.S equities and out of the precious metals so stay short & place the proper stop loss. If you take a look at the daily chart, the downtrend line remains intact. However, if the 15.07 level is broken that will also be breached as then it would be time to sit on the sidelines while waiting for another trend to develop.
TREND: LOWER
CHART STRUCTURE: EXCELLENT
VOLATILITY: AVERAGE
Continue reading "Weekly Futures Recap With Mike Seery" →

Stocks End August Mixed on Trade Concerns

Posted on by The INO.com Team

Hello traders everywhere. While August has been a strong month for stocks overall the stocks market is ending the month on a weak note with the exception of the NASDAQ, which continues to make gains on the back of Apple and Amazon which have kept Nasdaq slightly higher today.

Despite Friday's declines, Wall Street is set to conclude a bullish month. The DOW and the S&P 500 remain on track for their best August since 2014; the NASDAQ was poised to clinch its best August since 2000. The indexes were up 2%, 3% and 5.5% for the month as we head into the closing bell.

Trade Concerns

Early this week was a report that President Donald Trump was ready to impose tariffs on $200 billion more of Chinese goods as soon as a public comment period on the plan ends next week. The United States is also working to settle differences on a pact to modernize the North American Free Trade Agreement (NAFTA) by a Friday deadline. Continue reading "Stocks End August Mixed on Trade Concerns" →