Category: General

Stocks Close Firmly Negative On Afternoon Sell-Off

Posted on by The INO.com Team

Stocks moved sharply lower over the course of the trading day on Tuesday after moving moderately higher in morning trading. Lingering concerns about the global economic outlook weighed on the markets, overshadowing upbeat U.S. consumer confidence data.

The major averages ended the day firmly in negative territory, at their worst levels of the session. The Dow fell 101.37 points or 0.8 percent to 13,457.55, the Nasdaq tumbled 43.05 points or 1.4 percent to 3,117.73 and the S&P 500 slid 15.30 points or 1.1 percent to 1,441.49.

The early strength on Wall Street was partly due to the release of a report from the Conference Board showing a much bigger than expected improvement in U.S. consumer confidence during the month of September. Continue reading "Stocks Close Firmly Negative On Afternoon Sell-Off" →

Daily Video Update: Consumer confidence jumps to a seven month high

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Tuesday, the 25th of September.

Let me start off by saying thank you to Jeremy, who has been providing the daily update to you while I was cruising the Gulf of Maine in a 112-year-old three-masted schooner.

What has happened since I was enjoying my cruising days? Not a lot I'm afraid, the markets continue to consolidate and regroup after their recent gains. There have been no major trend changes since I was away, which is good.

Looking across the pond at Europe, I see the same story and the back-and-forth, kicking the can down the road continues. It looks as though the Euro has pulled back from its bull run, however the trend continues to be positive.

Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology.

Click Here to view today's video

Home prices rose in July

Posted on by The INO.com Team

Home prices kept rising in July across the United States, buoyed by greater sales and fewer foreclosures.

National home prices increased 1.2 percent in July, compared to the same month last year, according to the Standard & Poor's/Case Shiller index released Tuesday. That's the second straight year-over-year gain after two years without one.

The report also says prices rose in July from June in all 20 cities tracked by the index. That's the third straight month in which prices rose in every city. Continue reading "Home prices rose in July" →

Energy Market Commentary

Posted on by The INO.com Team

November crude oil was higher overnight as it consolidates around the 38% retracement level of the June-September rally crossing at 92.39. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends this month's decline, the 50% retracement level of the June-September rally crossing at 89.76 is the next downside target. Closes above the 20-day moving average crossing at 95.77 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 95.62. Second resistance is this month's high crossing at 100.73. First support is last Thursday's low crossing at 90.96. Second support is the 50% retracement level of the June-September rally crossing at 89.79. Continue reading "Energy Market Commentary" →

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 (9-24 through 9-28)

After a fairly choppy trade last week, the December Gold Futures were able to pull off a rally to chart resistance last night before finally feeling the pressure of a strong US Currency. While the US Dollar spent most of last week recovering from a three week drop, Gold prices remained relatively unchanged.

Last night Gold Futures climbed to $1775 an ounce before losing momentum and falling almost $20. All of this action had taken place before the open of the pit in New York on Monday morning. I mentioned in last weeks report that key upside resistance for Gold would likely target numbers in $25 increments. I truly expected much more out of Gold, following the FED’s announcement to move forward with QE3, and especially after finding out that Japan also went back to the printing press. My target last week was $1800 and possibly $1825. While I was disappointed in the choppy market, I am pleased to see that Gold continues with the trend of using targets with $25 resistance levels. Continue reading "Gold Chart of the Week" →