Stocks mixed as American manufacturing slows

Posted on by The INO.com Team

(RTTNews) - After ending the previous session sharply higher, stocks showed a lack of direction over the course of the trading day on Monday. The major averages bounced back and forth across the unchanged line before ending the session mixed.

While the major averages all moved to the upside going into the close, the Dow remained stuck in the red. The Dow edged down 8.70 points or 0.1 percent to 12,871.39, while the Nasdaq rose 16.18 points or 0.6 percent to 2,951.23 and the S&P 500 crept up 3.35 points or 0.3 percent to 1,365.51. Continue reading "Stocks mixed as American manufacturing slows" →

Daily Video Update: As we start Q3 is a global slowdown in the cards?

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Monday, the 2nd of July.

A surprise announcement out of the European summit pushed the market higher on Friday. It was also the end of the week, the end of the month, and the end of the quarter. For Q2 most of the markets were down, including the equity markets. We think that's an important element to look at. We still believe the trend is down and intact and that Friday was more of a short covering rally.

2 STOCKS ON THE MOVE TODAY:
The following stocks had monthly BUY signals based on our Trade Triangle Technology and liquid volume of over one million shares traded daily:
ARMOUR RESIDENTIAL REIT (ARR) New Monthly Trade Triangle @ 7.10
SUNTRUST BANKS (STI) New Monthly Trade Triangle @ 24.83 Continue reading "Daily Video Update: As we start Q3 is a global slowdown in the cards?" →

Some Thoughts On Oil And My Favorite Indicator: MACD

Posted on by The INO.com Team

Today we’ve asked Tony Edwards to share his favorite indicator with our readers. Tony Edwards has been an active independent trader for nearly 20 years. He trades an extremely wide range of instruments with a special focus on YM, ES, 6E, CL and GC. He offers traders daily, unique support and resistance levels (“TraderSmarts Numbers”) as well as Live Trade Alerts via www.tradersmarts.net.

Today I thought I would talk about my favorite indicator, the MACD.

I could start by telling you what the MACD is (stands for Moving Average Convergence Divergence and plots 2 lines and a histogram. The MACD line, or the fast line, is the 12 day EMA - the 26 day EMA, the signal line, or slow line, is the 9 day EMA of the MACD line, and the MACD Histogram is the MACD line - the signal line) or who invented it (Gerald Appel in the late 1970's) but instead I am going to tell you how I use and interpret it. Continue reading "Some Thoughts On Oil And My Favorite Indicator: MACD" →

Stock Indexes Morning Report

Posted on by The INO.com Team

The September NASDAQ 100 was lower due to light profit taking overnight as it consolidated some of last Friday's rally. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. Closes above June's high crossing at 2628.25 are needed to renew the rally off June's low. Closes below the 20-day moving average crossing at 2555.68 would temper the near-term friendly outlook. First resistance is June's high crossing at 2628.25. Second resistance is the reaction high crossing at 2639.75. First support is the 20-day moving average crossing at 2555.68. Second support is last Thursday's low crossing at 2503.50. Continue reading "Stock Indexes Morning Report" →

Oil falls below $84 amid waning EU euphoria

Posted on by The INO.com Team

By PABLO GORONDI
Associated Press

The price of oil fell below $84 a barrel Monday, unwinding some of the massive gains made Friday, when investors cheered the latest EU plans to tackle the continent's debt and economic woes. Signs of an economic slowdown in China also weighed on markets.

By early afternoon in Europe, benchmark oil for August delivery was down $1.35 at $83.61 a barrel in electronic trading on the New York Mercantile Exchange.

In London, Brent crude for August delivery was down $1.50 at $96.30 per barrel on the ICE Futures exchange.

On Friday, crude soared $7.27 to close at $84.96 in New York after the leaders of the 27 European Union countries said that they would seek to centralize regulation of European banks and, if necessary, bail them out directly, instead of funneling loans through governments that already have too much debt.

The EU said it also plans to ease borrowing costs for Italy and Spain, the third- and fourth-largest of the 17 economies that use the euro, stop mandating painful budget cuts to every country in need of emergency financial aid and tie their budgets, currency and governments more tightly. Continue reading "Oil falls below $84 amid waning EU euphoria" →