Author: The INO.com Team

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 April contract are higher for the 3rd consecutive trading session hitting a 2 week high as I have been recommending a short position getting stopped out in today's trade licking my wounds as I'm a little disappointed as it was all based on the FOMC minutes as they are not going to raise interest rates anytime soon pushing up many of the commodity markets especially the precious metals. Gold futures are still trading below their 20 and 100 day moving average ,however as an exit strategy when I'm short and prices hit a two week high it’s time to move on and sit on the sidelines as prices settled last Friday at 1,152 while currently trading at 1,187 up over $30 in an impressive week especially considering the fact that the NASDAQ 100 has crossed 5000 once again as everything is basically higher across-the-board this afternoon. Continue reading "Weekly Futures Recap With Mike Seery" →

Is Gold Foretelling An Impending Greek Disaster?

Posted on by The INO.com Team

Today is the first day of spring and maybe this is the cause for the spring in the markets. March 20th also happens to be "International Happiness Day" and I'm sure that many investors have a smile on their face today with the way the markets are acting in Europe, Asia and the U.S.

Today, I'll be looking at gold prices because they are acting and doing something that they haven't done in a long time and I want to share that with you in today's video. It is impossible to pinpoint what is causing gold to rally, whether it is short covering or the potential that Greece is going to implode any day now. Either way, it's not important what is causing the rally. The important thing to remember when trading is to get the direction right and not worry about what is causing the trend. I remember when I was in the trading pits in Chicago, I asked someone why the market was going up and he said to me, "It doesn't matter, it's going up". There is a lot of truth in that comment. That's one of the big takeaways in trading, don't over think markets.

As I write this commentary before the market opens, we could be seeing the equity markets close well towards the end of the day and possibly closing in new high ground on short equities before the weekend. The NASDAQ is very close to breaching the 5000 level, a close over that area today can be viewed as being very positive for the weekend.

Crude oil also appears to be finding some support at lower levels but has not yet reversed trend and turned around. I will be looking at that market to see where the key points are for a trend reversal to the upside. Remember markets can get very crowded on one side of the ledger when everybody believes that the trend will continue and go on forever. When that happens, a market tends to reverse and go the other way. The reason that happens is because markets are forward-looking trading instruments.

I will be getting into the recent Trade Triangle scan today to find new trades that may be just emerging. You won't want to miss that part of today's video.

This being Friday, I will of course, be looking for weekend trades using our "52-week highs on a Friday" strategy.

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

3 Ways to Identify Support and Resistance - 5 Chart Examples

Posted on by The INO.com Team

By: Elliott Wave International

Today's lesson considers three ways to identify price support and resistance in the markets you trade.

  1. Previous highs and lows
  2. Trendline support
  3. Fibonacci Ratios

These examples are adapted from Jeffrey Kennedy's Trader's Classroom service.

1) Uptrends terminate at resistance while downtrends terminate at support. Previous highs and lows often act as resistance and support.

In ALCOA Inc (AA), the September 2012 selloff found support near the previous July 2012 low.

The February 2013 peak occurred following a test of resistance at the January peak at $9.33. Continue reading "3 Ways to Identify Support and Resistance - 5 Chart Examples" →

Apple Joins The DOW And Tesla Has Range Anxiety

Posted on by The INO.com Team

Hello traders and MarketClub members everywhere today is a big day for Apple as the world's most valuable company is officially joining the DOW after the close of business today. Leaving the Dow is poor old AT&T. They are getting booted out in favor of Apple.

I say congratulations to Apple Inc. (NASDAQ:AAPL) and I hope that they do very well being a major component in the DOW. The biggest component in this particular index will be Goldman Sachs (NYSE:GS). This is the first time that you had an investment bank represents over 7% of the weighted Dow index. So the most watched index in the world should be worth watching again. Continue reading "Apple Joins The DOW And Tesla Has Range Anxiety" →

3 Stocks That Could Do Well No Matter What The Fed Does

Posted on by The INO.com Team

Hello, traders and MarketClub members everywhere. Today I'm going to be looking at 3 stocks that I found using the recent Trade Triangles scan. These 3 stocks are all exhibiting powerful chart and technical features that bode well for their future.

Here are the 3 stocks and a brief description of what they do. Continue reading "3 Stocks That Could Do Well No Matter What The Fed Does" →