Based on the Trade Triangle technology, the S&P 500 (CME:SP500) entered a long position today with a green weekly Trade Triangle @ $2,111.91.
Category: General
Avoiding Mental Sabotage
If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple.
If you like this article, Larry’s also agreed to give you free access to his award winning book.
I have heard that 95% or more of all traders ultimately fail.
Have you ever wondered why?
Most traders will tell you it was the system or method they were using. They'll also tell you they had a few bad trades they couldn't recover from. Or their dog chewed through the telephone cord just as their computer crashed, and they couldn't get out of a losing trade. Continue reading "Avoiding Mental Sabotage"
Don't Let Fear of a 'Grexit' Keep You Out of European Stocks
By: Joseph Hogue of Street Authority
After nearly three years of extremely weak economic growth, the European Central Bank is finally delivering on Mario Draghi's pledge to do "whatever it takes" to get the region back on track.
The central bank is set to pump $64 billion into the economy through monthly bond purchases through September 2016. The quantitative easing program, alluded to in September, formally announced in January and started on March 9, may already be having an effect on the economy in terms of sentiment.
Q4 GDP growth of 0.3% beat expectations, and manufacturing data showed signs of life in March. Exports to the United States could get a big boost this year on a massive depreciation in the euro versus the U.S. dollar.
All things considered, I would say it could be a very good year for European stocks, and possibly most of 2016 as well.
There is one fly in the ointment. Greece is back in the headlines as officials were said to have informally approached the IMF to delay repayment on the country's debt but were denied. Thanos Vamvakidis, head of European G10 FX strategy at BofA Merrill Lynch Global Research, said the country may run out of money if a reprieve is not granted at the meeting of eurozone finance ministers on April 24.
How do we act on what could be a great opportunity in European stocks without running the risk that a "Grexit" wipes out returns? Continue reading "Don't Let Fear of a 'Grexit' Keep You Out of European Stocks"
Three Currencies To Watch Versus The U.S. Dollar
By: Cory Mitchell, CMT VantagePointTrading.com
In forex trading, trade with the trend. Trends last a long time and tend to go further than people expect. Those who bought the EURUSD above 1.39 less than a year ago can attest to that, with the pair having traded as low as 1.0462 in March.
The U.S. Dollar (USD) isn't just strong against the Euro; it's strong against nearly all currencies, major and minor. For trades lasing longer than a few weeks, trading on USD strength--in alignment with the trend--is still the main play.
The USDCAD, NZDUSD and USDCHF are in a slightly different position though. Trading in the direction of USD strength is still a possibility, yet it's wise to have a few pairs to trade if the USD reverses. If the USD reverses, or even sees a deeper pullback, it is likely to be showcased in these pairs first. In fact, it has already begun.
USDCAD
The USDCAD hasn't given up much ground this year (relative to many other pairs), as it channeled between resistance just below 1.2840 and support just above 1.2350. Continue reading "Three Currencies To Watch Versus The U.S. Dollar"
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 June contract are trading below their 20 day but barely over their 100 day moving average continuing its sideways pattern settling last Friday in New York at $1,204 an ounce while currently trading at the identical price unchanged for the trading week as the chart structure is starting to improve on a daily basis as prices have gone nowhere in recent weeks. The U.S dollar was down over 200 points for the trading week helping support the precious metals but the real breakout does not occur until prices break above $1,225 or on the downside around $1,180 as I do think a breakout is in the cards. The S&P 500 is down 25 points this Friday afternoon which generally sends money back into the precious metals, however in the old days gold would have reacted much more bullish than today’s trading action which has to be concerning if you are bullish as this market remains weak with no trend in sight so avoid as I want to look at other markets that are beginning to trend as choppy markets are extremely difficult to trade successfully. Continue reading "Weekly Futures Recap With Mike Seery"
