Bitcoin Nears Trigger, AAPL Set To Rally

Posted on by Aibek Burabayev

A sleepless Bitcoin moves accurately as per the plan posted last week. The majority of you agreed that the $80k target is achievable for the leading coin. Here is an updated chart below where I zoomed in to a 4-hour time frame to share more details with you.

Bitcoin Price Chart

As I said before, Bitcoin's chart structure builds similarly with conventional trading instruments these days. The forecasted correction reached the 50% Fibonacci retracement level in the $55k area. It stopped there as the price bounced up and hit the orange trendline resistance soon. Continue reading "Bitcoin Nears Trigger, AAPL Set To Rally" →

Futures Performance Looks To Be Mixed

Posted on by Mike Seery

Sugar Futures

Sugar futures in the May contract finished slightly higher this Friday afternoon in New York, up 12 points at 15.30 a pound as prices are hovering right near a 2 week high. I'm keeping a very close eye on this market as I'm looking at a bullish position on any type of weakness as I believe the risk/reward is in your favor, especially longer-term.

Fundamentally speaking, prices continue to be undercut by the raging pandemic in Brazil, which may prompt the government to extend lockdowns that crimp fuel demand and encourage Brazil's sugar mills to divert more cane crushing toward sugar production rather than ethanol production, thus boosting sugar supplies. Brazil reported a record of 4,195 Covid deaths on Tuesday.

I believe the Coronavirus will be reduced significantly in Europe. Therefore demand will come back to these commodities eventually. It is just a matter of when the United States is performing excellent at the current time. Sugar is still trading right at its 100-day moving average but slightly below its 20-day as the trend is mixed to lower, so look to be a buyer on any price weakness. I do not believe the 17.50 level will be the high in this commodity come 2021.

I also have bullish recommendations in coffee, orange juice, and cotton as I think the whole sector remains cheap. The chart structure at the current time is starting to improve daily as we are trading at major support on the monthly chart as I see no reason to be short.

TREND: MIXED - LOWER
CHART STRUCTURE: IMPROVING
VOLATILITY: HIGH

Cotton Futures

Cotton futures in the May contract is higher this Friday afternoon in New York, up another 60 points at 82.16 as prices are right near a 2 week high. The volatility in cotton certainly has increased substantially over the last several weeks.

I have been recommending a bullish from the 79.00 level and if you took that trade, continue to place the stop loss at 66.00 as an exit strategy as I think there is a high probability that a bottom has taken place. Continue reading "Futures Performance Looks To Be Mixed" →

Weekly Stock Market Forecast

Posted on by The INO.com Team

This week we have a stock market forecast for the week of 4/11/21 from our friend Bo Yoder of the Market Forecasting Academy. Be sure to leave a comment and let us know what you think!

The S&P 500 (SPY)

SPY Daily Chart - stock market forecast

The understanding that the Federal Reserve will stop trying to fight and rather accept inflation coupled with the new round of stimulus has caused the S&P 500 (analyzed here using the SPY) to react with a gap up and run type surge.

Initially, the buying wasn’t connecting to an equal surge in internal bullish energy, but that changed later in the week as short squeezes and new longs brought their buying orders to the market. Continue reading "Weekly Stock Market Forecast" →

DOW Makes Record Run Late Friday

Posted on by The INO.com Team

The U.S. stock market climbed to record levels and closed out Friday trading at their session highs, with Wall Street wrapping up the week with solid gains amid rising optimism that a full reopening is right around the corner.

The DOW rose fell just short of a +300 point day, gaining 297.03 points or +.89% to 33,800.60, notching a record closing high. The S&P 500 gained +0.8% to 4,128.80, hitting its third straight record close, and the NASDAQ edged up +0.5% to close at 13,900.19.

On a weekly level, the DOW and the S&P 500 posted gains for the week, up +1.9%% and +.2.7%, respectively. The NASDAQ finally joined the party, gaining +3% on the week, issuing a new green weekly Trade Triangle indicating that it's now back in a long-term uptrend with a Chart Analysis Score of +100.

Key Levels To Watch Next Week:

Continue reading "DOW Makes Record Run Late Friday" →

Here's Why Cryptocurrency Is So Important!

Posted on by Wayne Burritt

You can’t escape the attention that cryptocurrency is getting. And just about everyone knows that it’s super-important today and in the future.

But they don’t exactly know why it’s so important.

In this first article of a multi-part series, we’ll tackle this important question and much more.

We’ll ask ourselves:

    • What is blockchain?
    • What is cryptocurrency?
    • What do they mean to me and my investments?

In addition, we’ll discover why blockchain and cryptocurrencies will reshape our lives and fundamentally change the way we interact with technology, money, and each other. We’ll dig deep into these exciting and fascinating new technologies and discover insights and opportunities we never dreamed imaginable.

And we’ll do it one step at a time using jargon-free, non-technical terms to make sure we understand the what as much as we do the why. I know these topics can be intimidating. But we’ll be in this together, every step of the way.

But before we get started an introduction... Continue reading "Here's Why Cryptocurrency Is So Important!" →