Author: The INO.com Team

Today's Video Update: Apple extends decline

Posted on by The INO.com Team

Hello traders everywhere! Jeremy Lutz here with your mid-day market update for Tuesday, the 15th of January.

Apple has fallen as low as $483.95 today, that makes it 3 days in a row . The last time AAPL closed below $500 was on 02/15/2012. Apple slumped 3.6 percent Monday on concern that demand for its iPhone 5 is slowing. Will Apple beat earnings next week?

Stocks have dropped Tuesday despite a report that retail sales increased in December. Consumers bought more autos, furniture and clothing, despite worries about potential tax increases. Sales rose 0.5 percent in December from November, slightly better than November's 0.4 percent increase and the best showing since September, the Commerce Department said Tuesday. Continue reading "Today's Video Update: Apple extends decline" →

Stocks Slide Into Negative Territory In Early Trading

Posted on by The INO.com Team

Stocks have moved mostly lower in early trading on Tuesday despite the release of an upbeat report on U.S. retail sales. The major averages have all moved to the downside after ending the previous session on opposite sides of the unchanged line.

The major averages have climbed off their lows for the young session but remain in the red. The Dow is down 28.07 points or 0.2 percent at 13,479.25, the Nasdaq is down 20.75 points or 0.7 percent at 3,096.75 and the S&P 500 is down 4.76 points or 0.3 percent at 1,465.92.

The weakness on Wall Street comes as worries about renewed gridlock in Washington regarding the debt ceiling has overshadowed a Commerce Department report showing stronger than expected retail sales growth.

The report showed that retail sales rose by 0.5 percent in December following a revised 0.4 percent increase in November. Economists had expected sales to edge up by 0.2 percent compared to the 0.3 percent growth originally reported for the previous month. Continue reading "Stocks Slide Into Negative Territory In Early Trading" →

Gold Chart of The Week

Posted on by The INO.com Team

Each Week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (January 14 through January 18)

Week two of 2013 is behind us and as we look ahead to week three, the US earnings reports are on the front burner. This week, a few major US banks and heavy hitters like General Electric and Intel will report earnings and share their thoughts on potential growth. The sentiment of major corporations in the United States will be key again this year as they contemplate investing funds that were sidelined last year, due to political and economic uncertainty. Stock indexes seem to be pricing in favorable news as they climbed above the prior chart highs from September. The tricky part of the first earnings report of this year is the fact that movement in either direction will have to consider the upcoming debate in Washington surrounding the second half of the Fiscal Cliff, and whether the government can find common ground on taxes and spending. Continue reading "Gold Chart of The Week" →

Morning Energy Market Commentary

Posted on by The INO.com Team

February crude oil was higher overnight as it extends the rally off December's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends the rally off December's low, October's high crossing at 94.87 then the 62% retracement level of the September-November decline crossing at 95.29 are the next upside targets. Closes below the 20-day moving average crossing at 91.26 are needed to confirm that a short-term top has been posted. First resistance is October's high crossing at 94.87. Second resistance is the 62% retracement level of the September-November decline crossing at 95.29. First support is the 10-day moving average crossing at 93.19. Second support is the 20-day moving average crossing at 91.26. Continue reading "Morning Energy Market Commentary" →