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Today's Video Update: Rearranging The Deck Chairs On The Titanic
Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Tuesday, the 2nd of April.
Rearranging The Deck Chairs On The Titanic
Yesterday, it was reported that a “a company owned by in-laws of Cypriot President, Nicos Anastasiades, withdrew millions from Laiki Bank on March 12 and 13," according to an article published in Cypriot newspaper, Haravgi. Today we are learning that Michael Sarris, the finance minister of Cyprus, has resigned. I expect we will be seeing more revelations coming out of Cyprus in the days and weeks ahead. I believe that Cyprus is the tip of the iceberg and is the catalyst of destruction in Europe. With unemployment in Europe officially at 12% and unemployment for young people in Spain at 55%, one can only think it's a matter of time before things erupt into civil disobedience. Europe cannot grow itself out of this mess and the austerity measures being demanded provide little to no hope for Europe to survive. Under its present economic and political circumstances, I think it's only a matter of time before the ship goes down with no lifeboats! Continue reading "Today's Video Update: Rearranging The Deck Chairs On The Titanic"
Today's Video Update: Washington - We Have A Problem
Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Monday, the 1st of April.
Washington - We Have A Problem
That seems to be the secret message that Europe is sending to America. With little to no fanfare, it was announced last Friday (Good Friday) that Jack Lew, the newly appointed Treasury Secretary, will be heading to Europe for a series of meetings with finance ministers in early April. When I heard the news of Jack Lew's trip to Europe, it immediately threw up a red warning flag that things are not going well in Europe and they may need America's help, which is interesting as we are drowning in debt ourselves. When this news story broke, I was appearing on Fox Business News with Liz Claman. Continue reading "Today's Video Update: Washington - We Have A Problem"
Gold Chart of The Week
Each Week Lo
ngleaftrading.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 (April 1 through April 5th)
After reviewing notes and performance from last week in the markets, one cannot help but be impressed by the US stock indexes. Despite reaching record levels on the charts, despite mediocre reports, and despite continued concerns about the ripple effect of Cyprus, the buy switch continued to stay on. The same big question still remains, “when will the market retrace”?
I believe that the stock indexes in the US will begin a gradual decline once European news begins to flow again. It has been too long since we heard the likes of Angela Merkel, Francois Hollande, and Mario Draghi. I think back to last year when these three may as well have been the President, Vice President, and Speaker of the House in the US with all of the press they had here. Yet suddenly, they have seemingly disappeared from all news lately. Continue reading "Gold Chart of The Week"
Chart to Watch - GBPUSD
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 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 GBPUSD Forex Pair (GBPUSD).
Today let's take a look at the GBPUSD, which is possibly setting up a good opportunity to go long.
The GBPUSD is probably making a Head and Shoulders bottom and if it breaks out above the Neckline that would be a very bullish sign that this pair is heading higher.
With Forex MarketClub uses the weekly Trade Triangle for trend direction and MarketClub uses the daily Trade Triangle for timing, so if the GBPUSD puts in a green daily Trade Triangle, we could consider going long.
The MACD is rising and if the GBPUSD continues higher, the MACD will move through the zero line. Continue reading "Chart to Watch - GBPUSD"
