The moving average is a technical indicator which has stood the test of time. It's been 27 years since Robert Prechter described this vital tool in his famous essay, "What a Trader Really Needs to be Successful." What he said then remains true today: Continue reading "Spot High-Confidence Trading Opportunities Using Moving Averages"
We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be analyzing a different chart using the Trade Triangles and his experience.
Today he is going to take a look at the technical picture of the Best Buy Co.,Inc. (NYSE:BBY).
I hope you are having a GREAT week! Best Buy Co., Inc. (NYSE:BBY) took off in January of this year and has for the most part not looked back making it one of this years biggest winners so far.
It is due for a larger counter trend correction which could have started with the current red weekly Trade Triangle. Continue reading "Chart to Watch - Best Buy (BBY)"
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 for the December contract sold off about $37 dollars from last Friday’s settlement of 1,287 as pessimism continues to grow in the precious metals as demand is at 4 year low as investors are selling gold ETF’s pushing prices lower and taking that money and putting it into the S&P 500 and NASDAQ which continue to make new highs once again today. Volatility in gold at this time is a 6 out of 10 meaning volatility can get much higher in my opinion as gold has been kind of grinding lower so if you’re looking to get short the gold market I would look at February put options or look at some bear put spreads for the month of April limiting your loss to what the premium costs as gold has entered into a bearish trend at this time. Gold looks weak right now and I do think prices will retest Continue reading "Weekly Futures Recap With Mike Seery"
Today, I am going to take an in-depth look into the world of crude oil. The question on most traders' minds is, has this market finally bottomed out?
As you can see on the chart, crude oil prices have been had been steadily moving higher for the most part of this year, until they peaked in September. We see (1) a strong supporting trend line which hit three places on the chart, making it a valid trend line of some importance. This trend line was dramatically broken in October and since then, the price of crude oil has fallen from over $100 a barrel to around the $94 a barrel level. Two events indicated this could happen, the (2) double top and divergence on the chart and (3) the divergence on the RSI indicator. Continue reading "Has Crude Oil Bottomed Out? Maybe."
The Gold Report: Eric, you published an Open Letter to the World Gold Council saying that the massive imbalance between supply and demand is not reflected in prices because available statistics are misleading, and that is the most important obstacle to a healthy gold mining industry. Why has it been so difficult to get accurate statistics and what should be measured to get a better picture of demand, particularly in emerging markets?
Eric Sprott: I have always had a dispute with the data that Thomson Reuters GFMS Gold Survey puts out, which the World Gold Council uses as the basis for its analysis of gold. Since I've been involved in the gold market, the supply always magically equals the demand. Of course, we know that's almost impossible. Continue reading "Could Bad Data Be Depressing the Gold Price?"
You are now leaving a Magnifi Communities’ website and are going to a website that is not operated by Magnifi Communities. This website is operated by Magnifi LLC, an SEC registered investment adviser affiliated with Magnifi Communities.
Magnifi Communities does not endorse this website, its sponsor, or any of the policies, activities, products, or services offered on the site. We are not responsible for the content or availability of linked site.
