Stocks rise slightly after weak jobs report

Posted on by The INO.com Team

The stock market followed one of its most exciting days of the year with a rather dull one Friday. Indexes barely rose following a weak jobs report, which increased hopes that the Federal Reserve would act next week to support the economy.

The gains, while meager, kept major market indexes at their highest levels in more than four years following a massive surge the day before.

The Dow Jones industrial average rose 14.64 points to close at 13,306.64. The Standard & Poor's 500 was up 5.80 points to 1,437.92. The Nasdaq composite barely moved, up 0.61 points at 3,136.42. Continue reading "Stocks rise slightly after weak jobs report" →

Chart to Watch - Wheat

Posted on by The INO.com Team

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 Wheat (ZW.Z12.E)

I hope you had a GREAT week !! Wheat made a strong bull swing in June and July and has since been in a sideways consolidation.

The consolidation looks to be forming a classic Head and Shoulders base pattern and if Wheat trades higher from here that would be a breakout of the neckline. Continue reading "Chart to Watch - Wheat" →

Daily Video Update: Is QE3 the next rocket that propels the SP500 Index to $1,550?

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Friday, the 7th of September.

Back in late August, we suggested that the markets would return to a more normal state with more trading volume and activity when traders returned from their summer vacations. Well, the comment out of Europe from Mario Draghi, head of the ECB, certainly propelled the dart of September to a quick start!

Yesterday's market action was a combination of new buying, and a large part of the move higher in the equity markets was short covering, as shorts scrambled to cover positions.

Another big call out yesterday was the move in the precious metals markets. Today we are seeing follow-through buying in gold, silver, and copper. Make no mistake about it, we are in bull markets in these metals. We are looking for all these markets to be strong for the next six months.

Look for the markets to close well today, as traders will be wary of taking home any short positions over the weekend.

This maybe a perfect weekend to employ our 52-week high rule to any market that is making new 52-week highs on the close.

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

The Gold & Silver Speculator

Posted on by The INO.com Team

The Gold & Silver markets continue to take giant leaps forward as the calendar heats up early September. After 3 consecutive weeks of solid performance to the upside, Gold rests just shy of $1700 while Silver marks time near $32.25.

Major short covering and new momentum buying before/during/and after the Jackson Hole Symposium has been fueling their moves higher. As elated as the Bulls are, there is danger on the edge of town.(The End, The Doors) Look out for Weird Scenes Inside The Gold Mine.

A potentially massive macro event risk loom large in the form of “Super Mario’s” ECB Decision tomorrow and next week’s FOMC Meeting. The current paths of least resistance for these Heavy Metals. Hard Currencies are up but face enormous near-term obstacles should either meeting disappoint/fail to satisfy. We could very well be in an environment where these event risks could trigger enormous moves in either direction. Be prepared. Continue reading "The Gold & Silver Speculator" →

Morning Energy Market Commentary

Posted on by The INO.com Team

October crude oil was higher overnight as it extends the trading range of the past three weeks below the 62% retracement level of this year's decline crossing at 98.27. Stochastics and the RSI remain bearish signaling that October crude oil might be correcting more in time than price. Closes below the reaction low crossing at 93.95 would confirm that a short-term top has been posted while opening the door for additional weakness. If October renews the rally off June's low, the 75% retracement level of this year's decline crossing at 102.50 is the next upside target. First resistance is the 62% retracement level of this year's decline crossing at 98.22. Second resistance is the 75% retracement level of this year's decline crossing at 102.50. First support is the reaction low crossing at 93.95. Second support is the reaction low crossing at 91.97. Continue reading "Morning Energy Market Commentary" →