Hello MarketClub members everywhere. There is no doubt about it Friday's move was sharp and painful for many investors. However, if you are following the Trade Triangles you were out of the market and on the sidelines based on the red weekly Trade Triangle's that were indicating potential problems for all the major indices.
Looking back, Friday's move looks very similar to the move we saw on June 24 of this year when the market dropped dramatically on a Friday only to open lower on Monday. The markets then reversed themselves and moved up and made back all their losses in just four or five days.
Hello MarketClub members everywhere. Stocks are trading sharply lower today after comments from a Federal Reserve banker suggests that a September rate hike might not be entirely off the table after all.
In a speech today Federal Reserve Bank of Boston President Eric Rosengren said that "a reasonable case can be made" for a rate hike, according to The Wall Street Journal.
Those words shook Wall Street, as traders had pretty much written off an interest rate increase at the Fed's Sept. 20-21 meeting. This feeling was based on the weaker-than-expected August jobs report released last week. Although Rosengren did not specifically mention September, his words, to some degree, leaves the door open to a rate hike, which Wall Street is not positioned for according to analysts.
Hello MarketClub members everywhere. I think we can all agree that this year's presidential election is something we have never seen before. It doesn't matter if you're a Republican, Democrat or an independent in the days leading up to the final vote, be prepared for the unexpected. That is why I say September is going to be unlike any other September.
Coming back from Labor Day the index markets bounced back and resumed their upward trend based on the long-term monthly Trade Triangles. Sometimes as traders we get caught up in the minutia of trading and fail to see the bigger picture. I'm waiting for the index markets to accelerate on the upside. This may not happen, as the weekly Trade Triangles are red indicating a sidelines position in all of the indexes. This will likely will change in the very near future. Continue reading "Why This September Could Be Unlike Any Other September"→
Hello MarketClub members everywhere. It's Friday; Labor Day weekend is on the horizon, so it is time to look back on the week. The biggest loser for the week is Crude Oil which is down from last Friday's close of $47.63 as of right now as October crude is trading around $44.39 down over $3 for the week.
Many of the other markets have seen changes in their intermediate weekly Trade Triangles and I will examine the ramifications of those moves in today's video.
Hello MarketClub members everywhere. The back and forth between the two presidential nominees is quite extraordinary, and I believe it is reflecting its uniqueness on the market itself. No one quite knows what to expect or what the outcome is going to be. Some polls show Hillary in the lead and others show Trump leading. Then we have this whole FBI and Homeland Security looking into protecting the integrity of the voting system - I never thought I'd see this in my lifetime, but we are living through an extraordinary time in history.
Having said all that, let's take a look at the markets and what they are doing.
Today is the last trading day in August. It is also "Hump Day" and the middle of the trading week. I always like to look at the end of the month as a reassessment period as to where the market is closing in reference to last month's close. I will be doing that in today's video. Continue reading "This Market Like The Election Is Flawed"→