Indexes Hover Around All-Time Highs

Posted on by The INO.com Team

Hello MarketClub members everywhere. As the trading week comes to an end, the DOW and S&P 500 are hovering around their all-time highs with the S&P 500 surpassing that mark as I write this. Weak economic data has also dimmed the chances of another rate hike this year, while lukewarm forecasts by J.P. Morgan and Wells Fargo have limited gains.

EDIT: Shortly after I posted this video the NASDAQ triggered a green weekly TT. Your key level to watch next week is now 6,081.96. A move below that level would issue a new red weekly TT.

Shares of J.P. Morgan Chase & Co. (NYSE:JPM) fell 1.3%, Citigroup Inc. (NYSE:C) was down 1% and Wells Fargo & Company (NYSE:WFC) fell 1.8%, despite their quarterly profits beating analysts' expectations.

MarketClub's Mid-day Market Report

Gold and crude oil are both posting weekly gains of 1.3% and 5.2% respectively.

Key levels to watch next week: Continue reading "Indexes Hover Around All-Time Highs" →

"OPEC, The Market and Oil Bulls Have Run Out of Runway" - Andy Hall

Posted on by Robert Boslego

Robert Boslego - INO.com Contributor - Energies


Andy Hall has forsaken his bull oil market position. In an investment letter dated July 3rd, he wrote, “Whereas it once seemed positions could be held with an eye to a longer-term secular appreciation, that is no longer the case…. In short, OPEC, the market and oil bulls have run out of runway.”

Andy Hall
Source: Amanda Gordon/Bloomberg

Mr. Hall explained his reasoning this way:

“Hitherto, it had been our view that oil would trend higher as prices would need to rise to a level that would justify investment in more costly sources of supply than just the core areas of US shale. However, not only has the core shale oil resource grown significantly — above all in the prolific Permian Basin — but break-evens have dropped because of secular productivity gains outpacing cyclical cost increases, at least for now…. If the marginal cost of oil for the next 3 or 4 years is headed to the mid-$40 range, then OPEC’s attempts to push prices to $60 seem futile.” Continue reading ""OPEC, The Market and Oil Bulls Have Run Out of Runway" - Andy Hall" →

Trump Jr. Emails Spook Wall Street

Posted on by The INO.com Team

Hello MarketClub members everywhere. Stocks were sent for a wild ride today as traders weighed the impact of emails released by Donald Trump Jr. via Twitter.

The Dow initially fell 100 points on concerns that the Russia controversy that’s plagued President Trump’s presidency will worsen. However, the major averages recovered about half an hour later. The Nasdaq and Dow are now in the green while the S&P 500 remains in the red.

MarketClub's Mid-day Market Report

Key levels to watch this week: Continue reading "Trump Jr. Emails Spook Wall Street" →

Put Your Money Where Your Mouth Is

Posted on by George Yacik

George Yacik - INO.com Contributor - Fed & Interest Rates


Last week Federal Reserve Governor Jerome Powell joined the chorus of prominent industry leaders and government officials calling for reform of the American housing finance system, namely by reducing the government’s role in the business and bringing in more private capital.

Some questioned why Powell should speak on this subject, given that – as he told his American Enterprise Institute audience –the Fed “is not charged with designing or evaluating proposals for housing finance reform.” Still, he pointed out, “we are responsible for regulating and supervising banking institutions to ensure their safety and soundness, and more broadly for the stability of the financial system.” Besides, he noted, he was expressing his own personal views on the subject, not necessarily the Feds.

But what caught the attention of a lot of people, including myself, was the sense of urgency for reform that Powell claimed existed. Continue reading "Put Your Money Where Your Mouth Is" →

Gold & Silver: Time Machine

Posted on by Aibek Burabayev

Aibek Burabayev - INO.com Contributor - Metals


The Time Machine is the dream of many (especially those who bet on sports) and I’m excited to see if we will be able to travel through time shortly as physics scientists confirmed that it is possible. In the meantime, we could profit or at least be prepared for the future using the market’s time machine.

Last week a textbook example of a “Flash Crash” occurred in the silver market when the price dropped almost 2 dollars (10%) within a minute! It’s amazing that gold was untouched by this event creating an arbitrage opportunity as all discrepancies are subject to speculative trading. That’s why I put the silver analysis first this time to show the map for a possible gold move. By the way, it is quite often that silver is the principal instrument for market movement as it has less liquidity and therefore more opportunities for market “gangsters” or “pirates” to attack it.

Chart 1. Silver Daily

Daily Silver Chart
Chart courtesy of tradingview.com

After silver breached the previous major low established last December at the $15.64 mark the map has changed. What was tagged as a first move up turned out to be a tiny countertrend conjunctive move within the small complex correction contoured with the red downtrend. The Flash Crash drop almost reached the downside of the red channel, which could finish that small complex correction. Continue reading "Gold & Silver: Time Machine" →