Hi, Adam Hewison here with MarketClub. Here is a recap of your 1 p.m. market update for Wednesday the 25th of May.
Here's what's happening in the major markets ... Continue reading "1PM Recap"
Category: General
1PM Market Update for 5/24/11
Hi, Adam Hewison here for MarketClub. Did you miss your 1 p.m. market update for Tuesday the 24th of May? Catch up now!
Here's what's happening right now in the major markets ...
S&P 500: -60. Only the longer-term monthly Trade Triangle remains intact at this time. Short-term market trend is down. Market at the lower end of the Donchian Channel. Neutral - Major Support at 1,295-1,300.Would not be surprised to see a possible bounce.
Silver: Score +55. Today's action favors more of a recovery on the upside. Spot market moved over 36.00. Bullish divergence on the Williams %R indicator confirmed. Near term support at 34.25. Major Support at $32.00. Major resistance at $39.50. Short-term rally potential up to 42.00.
Gold: Score +70. Longer term trend remains positive. The $1,520 was broken today and a close over this area indicates more upside action. Support at $1,500, $1,475 and $1,462.50. Market Trending higher.$1,533 is a 62% Fib retracement.
Crude Oil: +80 Trading range. Long term indicator remains positive. Resistance at 100.80 basis July. Choppy market. Bullish divergence confirmed on the Williams %R indicator.A close over $100 basis July is needed to drive prices higher.
The Dollar Index: Score +60. In a very broad trading range with the longer term Trade Triangle remaining in a negative position. Index reversed from resistance at the 76.50 level. Major resistance remains at 77.50. Minor support at 75.00. Possible "Dark Cloud Cover" forming today and a Negative divergence on the Williams%R indicator.
The Thomson Reuters/Jefferies CRB Commodity Index: Score +55. Near-term resistance at 344.00. Minor support at 335.00. Market oversold. Bullish divergence building on the Williams %R indicator. Trade Triangles are negative on this market.
Join me again tomorrow at 1:00p.m. ET for your LIVE and actionable update!
All the best,
Adam Hewison
President of INO.com
Co-founder of MarketClub
1PM Update (5/23/11)
Hello, Adam Hewison here for MarketClub. I hope you were able to join me for today's market update. If not, all is not lost. Watch the video below to get caught up!
Here's what we covered in the major markets ...
S&P 500: -70. Only the longer-term monthly Trade Triangle remains intact at this time. Short-term market trend is down. Market at the lower end of the Donchian Channel. Neutral - Major Support at 1,295-1,300.
Silver: Score -55. Stuck at -55 as it continues to move sideways. Spot market needs to move over 36.00 to give this market upward momentum.Bullish divergence on the Williams %R indicator. Near term support at 34.25.Major Support at $32.00. Major resistance at $39.50.
Gold: Score +70. Longer term trend remains positive. All eyes are on $1,520 0n the upside. A close over this level propels market higher. Support at $1,490, $1,475 and $1,462.50. Resistance at $1,526. Market Trending higher.
Crude Oil: +70 Trading range. Long term indicator remains positive. Resistance at 100.80 basis July. Choppy market. Possible bullish divergence on the Williams %R indicator.SUPPORT AT $96.00 for the July contract.
The Dollar Index: Score +70. In a very broad trading range with the longer term Trade Triangle remaining in a negative position. Minor resistance at 76.50 and major resistance remains at 77.50. Minor support at 75.00
The Thomson Reuters/Jefferies CRB Commodity Index: Score +55. Near-term resistance at 344.00. Support at 327.50. Market oversold. Bullish divergence building on the Williams %R indicator. Trade Triangles are negative on this market.
Join me again tomorrow at 1:00p.m. ET for your LIVE and actionable update!
All the best,
Adam Hewison
President of INO.com
Co-founder of MarketClub
If you "snooze" you lose!
If I wasn’t still getting a steady stream of emails after reminding you of the prediction challenge, I would feel like that pesky alarm that you dread as your morning wake up call. Well consider this your final hit to the “snooze button!” We are embarking on the last week of the contest.
Contest? What contest, you ask? Wipe the sleep from those beautiful eyes of yours, charge that battery, and show everyone that you deserve to be a “trillionaire”, “the smartest man/woman of the universe”…and at the very least, the winner of an Android Tablet!
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Weekend Update: 5/21/11
I just finished your weekend update. Watch now to analyze the trends from the week!
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We hope you enjoy the weekend update, and that you leave your thoughts in our comment section. See you Monday (5/23/11) at 1pm ET!
All the best,
Adam Hewison
President of INO.com
Co-founder of MarketClub
