Author: The INO.com Team

I Like The Chart Formation On This Stock

Posted on by The INO.com Team

Today I will be looking at the stock chart of Cadence Design Systems Inc. (NASDAQ:CDNS). This stock just broke out to the upside from a four-month base and looks as though it wants to continue going higher. All of the Trade Triangles are green and pointing higher for Cadence Design Systems. My upside target for this stock is $22.40, CDNS is currently trading around $19.50.

Looking at the chart you can see that this stock has a very well-defined four-month base and has cleared resistance with today's breakout. If you measure from the lows of $16.52 to the resistance level which is at $19.53 it gives us a measurement of $3.01. You then add that number to the resistance level of $19.53 and this gives you a target of $22.54. I would then round that number down to approximately $22.40, which is now the upside target zone for this stock.

So what does Cadence Design Systems do?

Continue reading "I Like The Chart Formation On This Stock" →

Poll: Which of the 3 Indexes will finish the highest?

Posted on by The INO.com Team

This year has been a record setting year for the indexes so far with no end in sight.

I thought I would ask the question...

Which of the 3 Indexes will finish the year with the biggest gain?

View Results

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As always, I would love to hear from you. Please take a moment to vote and leave a comment.

Every Success,
Jeremy Lutz
INO.com and MarketClub.com

All Eyes On Apple Today

Posted on by The INO.com Team

Today after the market closes, Apple Inc. (NASDAQ:AAPL) reports its Q1 earnings. Expectations are running high as iPhone sales out of China are expected to be big, very big. As you may remember, I wrote a special post on Apple indicating that I thought the stock could move up to the $145 to $155 area.

I also highlighted the time window in which I thought the stock could do that. I am looking for an upward swing in Apple lasting between 23 and 28 days. The current upswing began six days ago which would indicate that we have somewhere between 17 and 22 days left on the upside if this same pattern continues. That would make Apple hitting its highs somewhere between May 3rd and May 8th.

One of the things I will be looking for in Apple today is a close over the previous all-time high close of $132.95 on the Februay 23, 2015. Should the market close over that level today, then there's a very good chance we could see Apple reach the target zone.

Last word on Apple, this stock could also act as the catalyst and driver that propels the indices and other tech stocks higher.

In today's video, I will also be looking at the usual suspects along with some new ones for you to enjoy.

As always, I welcome your feedback and questions on any market. Have an outstanding trading day and let's see what Apple has up its sleeve after the close of the market.

Every success with MarketClub,
Adam Hewison
President, INO.com
Co-Creator, MarketClub

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 June contract are closing down $18 this Friday afternoon to settle around 1,176 an ounce hitting a 5 week low as I’m now recommending a short position while placing your stop loss above the 10 day high which currently stands at 1,209 risking around $32 or $1,000 per mini contract plus slippage and commission as the chart structure is solid at the current time. Gold futures finished down about $25 for the trading week as all the action is back into the S&P 500 which is hitting all-time highs once again this Friday afternoon as money is coming out all precious metals and into the equity market and that trend is going to continue as I’m recommending a bullish position in the equities at the current time as well. Continue reading "Weekly Futures Recap With Mike Seery" →

Will The NASDAQ And S&P 500 Continue To Move Higher?

Posted on by The INO.com Team

This week both the NASDAQ and S&P 500 made new all time highs and in doing so turned the Trade Triangles back to the positive mode on both indices.

Well here we are, it's Friday, and the question is. Is this trend going to continue? I say yes, at least for now.

The only index that has not joined the party is the Dow. The problem with the Dow is that it is made up of just 30 stocks big stocks who are not seeing much growth as of late and have been somewhat hurt with the strong dollar. Unlike the NASDAQ and the S&P 500 which are much broader indices and offer a bigger cross-section of growth stocks. Continue reading "Will The NASDAQ And S&P 500 Continue To Move Higher?" →