Keep An Eye On The Big Banks And Retail Sales This Week

Hello MarketClub members everywhere. Earning season kicks off with a trio of big banks, J.P. Morgan Chase & Co. (NYSE:JPM), Bank of America Corporation (NYSE:BAC) and Wells Fargo & Company (NYSE:WFC) are all due to release earnings on Friday. Wells Fargo will be in the spotlight after its high-profile stumbles in 2016, including the account-opening scandal that led to the ouster of its CEO and the failure to get its living will approved by regulators. Investors will be watching for how these issues are impacting the bank's financial results.

MarketClub's Mid-day Market Report

On the data side, retail sales will be eyed. The November data showed a slowdown from the previous two months. We'll see if higher consumer sentiment readings translate into a strong month for sales.

Key levels to watch the rest of the week: Continue reading "Keep An Eye On The Big Banks And Retail Sales This Week"

Weekly Futures Recap With Mike Seery

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 1,151 an ounce while currently trading at 1,177 up about $26 for the trading week as I have been sitting on the sideline's in this market for several months as a possible bottom now may have been formed. The chart structure is poor at present as the 10-day low stands at 1,129 as the monetary risk is way too high to enter at this point so keep a close eye on this market on any type of price retracement & a couple more days off the calendar then we could be entering a possible bullish position as I do think the commodity markets will move higher in 2017. Gold prices are now trading above their 20-day but still far below their 100-day moving average has this has been a longer-term bearish trend for several years as the U.S dollar is still hovering right near 14 year high as that is the main culprit to the precious metals in recent history coupled with the fact of a very strong U.S stock market continuing to take money out of the precious metals and into other sectors. Continue reading "Weekly Futures Recap With Mike Seery"

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Merry Christmas To All Of Our Traders Blog Visitors!

Merry Christmas From MarketClubWith all the hustle and bustle, it's sometimes difficult to remember the real reason for the season. But regardless of what you believe and what religion you practice, if any, we hope you find yourself surrounded by love. The INO.com staff is very appreciative of your interest and we love having you return to our blog time and time again.

As you share a meal, or a gift, please reflect on all you have despite the many things you hope that 2017 will bring. Merry Christmas to you and we are excited to help you build your financial goals and trading confidence.

If you don't celebrate Christmas, please accept our most genuine wishes for any happy holiday and a prosperous new year!

Best,
The INO.com Team


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