The INO.com Team, Author at INO.com Trader's Blog

Cohn Resignation Puts Pressure On Stocks

Posted on March 7, 2018 by The INO.com Team

Hello traders everywhere. Gary Cohn's resignation from being President Donald Trump's chief economic advisor has caused the stock market to head considerably lower on the day. His departure creates uncertainty in the markets and fears that the Trump trade war could take place sooner rather than later.

Even on a day when ADP and Moody's Analytics announced that private-sector jobs grew by 235,000 in February, surpassing an estimate of 195,000, Cohn's resignation trumped the good news. The report is used as a preview to the Bureau of Labor Statistics' monthly jobs report, which is scheduled to be released Friday.

Bitcoin has slumped after the U.S. Securities and Exchange Commission reiterated that many online trading platforms for digital assets should register with the agency as exchanges. Continue reading "Cohn Resignation Puts Pressure On Stocks" →

Stocks Rise After Soft Opening

Posted on March 5, 2018 by The INO.com Team

Hello traders everywhere. After a rough week where all three indexes ended lower the Monday open seemed to continue that trend with the indexes opening lower on the day. However, late morning brought about a turnaround, and the stock market is solidly in positive territory for the day. The reason for the turnaround? Speculation by traders that President Donald Trump's tough tariff talk won't translate into the most severe protectionist policies as many had feared.

Trump appears to be opening the door for negotiations on tariffs. In a series of tweets Monday morning, Trump said: "Tariffs on Steel and Aluminum will only come off if new & fair NAFTA agreement is signed," adding that "Mexico must do much more on stopping drugs from pouring into the U.S. They have not done what needs to be done."

Also, House Speaker Paul Ryan said he was "extremely worried" about Trump's trade plan. Congressional leaders will not rule out potential action if Trump decides to move forward with his tariff plan.

Key Events Coming This Week

Continue reading "Stocks Rise After Soft Opening" →

Weekly Futures Recap With Mike Seery

Posted on March 4, 2018March 2, 2018 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 April contract settled last Friday in New York at 1,330 an ounce while currently trading at 1,326 down about $4 for the trading week. However, its currently trading up $18 as money flows are coming out of the equity market and into the precious metals as a flight to quality. I'm not involved in gold as this market remains reasonably choppy in my opinion as we did hit a two month low in yesterday's trade as the chart structure is very poor which tells you that the monetary risk is too high to enter into a bullish or bearish position. Gold prices are still trading under their 20 and 100-day moving average as the short-term trend is the downside with a possible double top created around the 1,365 level. I still see choppiness ahead so avoid this market at the current time and look at other stronger trends that are developing. The U.S. stock market has dropped about 1200 points over the last four days as that's what is finally starting to support prices. The U.S. dollar hit a six week high in yesterday's trade, and that is also keeping a lid on prices here in the short-term. I will wait for a better chart pattern to develop before entering into a position. If you take a look at the daily chart there is major support around the 1,300 level as in yesterday's trade we traded as low as 1,303, and I suspect that will be strong support in the weeks ahead.
TREND: MIXED
CHART STRUCTURE: POOR
VOLATILITY: SOLID
Continue reading "Weekly Futures Recap With Mike Seery" →

Trump Trade War

Posted on March 2, 2018March 2, 2018 by The INO.com Team

Hello traders everywhere. Stocks traded sharply lower earlier in the day on fears that a Trump trade war could take place after President Donald Trump announced tariffs on steel and aluminum imports.

Trump announced on Thursday that the U.S. would implement a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports next week. The news sent stocks reeling, with the Dow closing 420 points lower, while the S&P 500 and Nasdaq dropped more than 1 percent. It has also raised concern that other countries may implement retaliatory tariffs on U.S. exports.

The S&P 500 traded 0.2% higher after falling more than 1% in early trading but has slipped back into negative territory losing .20%. The S&P 500 is down 2.6% for the week.

In volatile trading, The Dow Jones industrial average traded 70 points lower after falling as much as 391 points, but has since dropped back below a 200 pt loss on the day. Overall the DOW is down 3.4% on the week. Continue reading "Trump Trade War" →

First Monthly Loss For Stock Market

Posted on February 28, 2018August 5, 2020 by The INO.com Team

Hello traders everywhere. The DOW and S&P 500 are both posting their first monthly loss in ten months. Although we seemed to be ending the month on a daily high note the trend of heading lower resumed this afternoon after the EIA reported that oil had a larger-than-expected build in U.S. stockpiles, which has pushed crude oil lower. Both indexes are down a little over 2% on the month and not quite able to erase the losses from the extreme volatility that we saw in February.

The NASDAQ has fared better only losing -.6%, but it is still posting its first monthly loss in the last seven months. The tech sector has been a standout in all of the market volatility, but it indeed hasn't been immune to it.

Looking Forward:

March could be a better month for stocks because when February ends lower, March performed best, averaging a 4.3% spring back in the S&P. One of those years was the tech bubble of 2000, when March was up 9.7%, the best performance since 1983. March 2009 was second best, with a gain of 8.5%. So we may just retest the all-time highers sooner than you think.

Key Levels To Watch Next Week:

Continue reading "First Monthly Loss For Stock Market" →

Author: The INO.com Team