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.

Crude Oil Futures

Crude oil futures in the April contract settled last Friday at 31.91 a barrel while currently trading at 32.00 basically unchanged for the trading week with a possible double bottom being created around $29 the level occurring. Crude oil prices are still trading below their 20 and 100 day moving average telling you that the short-term trend is to the downside as the long-term trend is also to the downside despite the fact that several countries decided to freeze production this week, but that still leaves production at record levels as investors found that as another negative situation. The volatility in crude oil is extremely high at the current time as I’m looking to possibly enter into a short position on any type of rally as the chart structure has improved tremendously, therefore, lowering monetary risk, but at this point I’m sitting on the sidelines waiting for an opportunity which could develop any day. Continue reading "Weekly Futures Recap With Mike Seery" →

Alphabet, Amazon and Apple All Have Something In Common

Posted on by The INO.com Team

Hello MarketClub members everywhere. Well, here we are at the end of one extraordinary week for the equity markets. I don’t remember a week where we watched the major market indices rally so dramatically from a bearish position in just three days.

In today's post, I'm going to be looking at the big 3 A's, Alphabet, Amazon and Apple. What these three stocks have in common is that they are all in downtrends and they all formed a negative (bearish) engulfing line yesterday. Should any of these three stocks close lower today, they will confirm that the high on Thursday will be a formidable resistance area for these stocks to overcome in the future.

Alphabet Inc.(NASDAQ:GOOG)

Trade Triangles: Weekly red, Monthly red, overall trend is bearish, trend strength -85.

Daily Chart of Alphabet Inc.(NASDAQ:GOOG)

Alphabet has a negative trend at the moment even though it has been extraordinarily strong in the past several years. It's not to say that it's going to hell in a hand basket, but rather it will begin to reflect a slowing economy that is evident in both the retail and dining sector. I would view a close below $697.34 as a confirming signal that it has put in an interim top and is going to retest its recent lows. Continue reading "Alphabet, Amazon and Apple All Have Something In Common" →

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Posted on by admin

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Gold/Silver Ratio: Gold Loses Its Shine

Posted on by Aibek Burabayev

Aibek Burabayev - INO.com Contributor - Metals


Back in August, I updated my gold/silver ratio chart with conservative bullish targets. Today I would like to share my growing concerns about the ratio's dynamics as fresh highs haven't appeared since my first post. As I've said many times before, let us not to be biased. Change the charting when the chart changes!

Chart 1. Gold/Silver Monthly: Tarnished Diamond

Monthly Chart of Gold/Silver
Chart courtesy of tradingview.com

Above is the reconstruction of the chart from the previous post about the ratio. I added several remarks in red the call-outs and also put the middle of the green channel in a dashed line. But the most important addition is the simple, classic Momentum indicator below the chart with remarks. Continue reading "Gold/Silver Ratio: Gold Loses Its Shine" →

Bull Market Or Bear Market, Which Is It?

Posted on by The INO.com Team

There's no doubt that the dramatic 800 point rally we have seen the past three days is practically unprecedented, but did it change the major trend of the market?

The simple answer is no, the longer-term trend for the equity markets at the moment remains negative. But please don't misunderstand what I'm saying, I was as surprised as anybody at the velocity of the rally which exceeded the Fibonacci retracement levels I discussed recently.

Today should be an interesting day to say the least, and I doubt seriously that the market can close higher and would expect to see some sort of pullback from the current levels. There is also what I would consider to be a major resistance based on the highs that were hit on Feb. 1st at the 1939 level on the S&P 500. Providing that level holds, we are still basically in a downward trending market, albeit a choppy one.

Gold

The pullback in gold (FOREX:XAUUSDO) appears to be consolidating, which is good given its rapid move to the upside. In an ideal world, I would like to see gold continue to consolidate around the $1200 level before once again moving higher. I still believe that gold has broken the back of its four-year bear trend and has now embarked on a long-term bullish trend that could take it to the year 2020. Be sure to watch the Trade Triangles for signals that gold has once again embarked on an upward move. Continue reading "Bull Market Or Bear Market, Which Is It?" →