DOW Rallies To Another Record High

Posted on by The INO.com Team

Hello traders everywhere. Once again the DOW has reached a record high, this time at the opening of trading then heading higher from there. The move higher marks the fifth straight day that the DOW has traded higher. The reason for the continued optimism? better-than-expected jobs creation last month.

Private payrolls increased by 230,000 in September, the most since February, according to a report from ADP and Moody's Analytics. Economists had expected a gain of 185,000. The report is often seen as a preview of the government's nonfarm payrolls report, which is set for release Friday morning.

DOW Rallies

Decreasing fears of a global trade war have helped boost the stock market as we start the fourth quarter of 2018. This week Canada joined a trade deal between the U.S. and Mexico (USMCA). The agreement grants U.S. dairy farmers access to the Canadian market, while Canada agreed to effectively cap automobile exports to the States.

Next up, China. Can President Trump get a deal worked out with the Chinese government?

Key Levels To Watch This Week:

Continue reading "DOW Rallies To Another Record High" →

Sneak Peak: Buy and Hold vs. Options

Posted on by Trader Travis

Every month, I release a new video for my MarketClub Options members...

I cover everything from current market conditions and trading lessons learned (good and bad), to stocks on my watch list, questions I receive from members, and more.

These videos are not an advertised part of the MarketClub Options service (which includes the MarketClub Options Blueprint, Option Basics Bootcamp, How NOT To Trade, Options 101 eBook and more), but simply an added value and something I like sharing with members.

I was asked by the MarketClub staff if we could share September's training video with non-members.

I hesitated at first - then I thought, why not?!

This information applies to all types of traders - buy and hold, fully invested, successful or not.

The short video below highlights: Continue reading "Sneak Peak: Buy and Hold vs. Options" →

Gold Bounced as Silver Broke Downtrend

Posted on by Aibek Burabayev

Both triggers were pulled in the precious metals since my last post about gold and silver. I hope it is interesting for you to see how you voted about the metals price action in that article.

Let’s start with the gold votes below.

Gold Bounced

Most of you (54%) thought that gold would resume the drop. It was a slight edge over the other option where you chose the completion of the pullback. Let’s check in the chart below to see what actually happened with the gold price since then.

Chart 1. Gold Daily: Second Leg Of A Pullback

Gold Bounced
Chart courtesy of tradingview.com

The price of gold has finished the consolidation highlighted with the thin red down arrows in the earlier chart between the B and the C points of the blue AB/CD segments. The simple measurement pointed at the $1180 level, where I said the CD segment should start. Indeed, the gold has hit the $1181 low within the BC part and then bounced up towards the end of the last week to close at the $1191. This is the magic of simple math, which occurs in the charts again and again. Continue reading "Gold Bounced as Silver Broke Downtrend" →

Weekly Futures Recap with Mike Seery

Posted on by The INO.com Team

We've asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

S&P 500 Futures

The S&P 500 futures in the December contract settled last Friday in Chicago at 2933 while currently trading at 2924 lower by 9 points for the week as the volatility remains very low. I have been recommending a bullish position from the 2803 level and if you took that trade place the stop loss under the 10-day low which stands at 2883. However, in Tuesday's trade that will be raised to 2905 as the chart structure will turn outstanding at that time as I remain bullish, however for the trend to continue we have to break the September 21st high of 2947 as I still think that is in the cards possibly next week. Low-interest rates and great corporate earnings continue to propel prices higher although this week's small setback as this is still where all the interest lies as the holiday season is right around the bend and historically and seasonally speaking that is a bullish time for stock prices. The S&P 500 is trading above its 20-day moving average and far above its 100-day as this remains the strongest trend to the upside. The U.S. economy is hitting on all cylinders, and if you take a look at crude oil prices, it broke $73 a barrel today as that tells you how well the economy is doing as strong demand for that commodity continues to push prices higher. I will be looking at adding more contracts to the upside once the risk/reward become better in your favor as that could happen on a sharply lower trading session so keep a close eye on this market.
TREND: HIGHER
CHART STRUCTURE: SOLID
VOLATILITY: LOW
Continue reading "Weekly Futures Recap with Mike Seery" →

Moment of Truth Approaching on Iran Sanctions

Posted on by Robert Boslego

OPEC’s market monitoring committee met on September 23rd to assess conditions just about six weeks before new U.S. Iran sanctions go into effect, targeting Iran’s oil sector. Buyers and sellers are in the process of finalizing their loading programs for November, and so this assessment is of particular importance as to the question of whether oil supplies will be adequate once those sanctions go into effect.

The market focused on the lack of public discussion of President Trump’s demand on Twitter last Thursday for OPEC to increase supplies to get prices down:

"We protect the countries of the Middle East, they would not be safe for very long without us, and yet they continue to push for higher and higher oil prices! We will remember. The OPEC monopoly must get prices down now!"

However, Saudi Energy Minister Khalid al-Falih was quoted as saying, "Our plan is to respond to demand. If demand [for Saudi crude] is 10.9 million b/d you can certainly take it to the bank that we will meet it. But the demand is 10.5 million b/d or 10.6 million b/d. I think October will be more than this."

Iran Sanctions
Source: AFP

In a more recent news story, it was reported that Saudi Arabia and its allies discussed adding 500,000 b/d to supply. Saudi Aramco plans to add 550,000 b/d of new capacity in the Khurais and Manifa oilfields in the fourth quarter of 2018. Continue reading "Moment of Truth Approaching on Iran Sanctions" →