Does Bernanke know best?

Hello traders everywhere.  Adam Hewison here, co-founder of MarketClub, with your 1 p.m. market update for Wednesday the 22nd of June.

Yesterday it was Greece, today it's Ben Bernanke and the FED. What is really going on with the equity market is that no one has strong feelings either on the upside or downside . This neutrality is reflected in our +55 reading indicating that the market remains in a trading range. Today we want to do something a little bit different, I am going to go through each of the markets quickly, and  then zoom in and focus on two markets crude oil and silver. I think you'll find our analysis quite interesting and informative.

Now let's take a look at what's happening in the markets... Continue reading "Does Bernanke know best?"

All Eyes Are On Greece

Hello traders everywhere, Adam Hewison here co-founder of MarketClub with your 1 p.m. market update for Tuesday the 21st of June.

All eyes are on Greece as the vote will be taken this afternoon at five o'clock Eastern standard Time. That is a vote of confidence on the last 30 measures and also on the government. As you know, the market has been in an oversold condition and I think today's rally was reflective of that move from an oversold condition. Crucial 5 PM Vote comes in when the markets are closed. If there is a vote that is negative then these markets will come crashing down tomorrow. This is just like gambling in that no one knows what's going to happen with the Greek government. My own view is if they do agree on what they're doing it will just be kicking the can down the road.

Now let's take a look at the markets.... Continue reading "All Eyes Are On Greece"

Which is more exciting: the market of late or a game of Pong? You choose.

Hello traders everywhere, Adam Hewison here co-founder of MarketClub with your 1 p.m. market update for Friday the 17th of June.

I guess the most common expression I'm hearing is "kick the can down the road.". It would seem as though politicians the world over are pretty much the same. None of them wants to face the truth that there is no more money. So what do they do they, "kick the can down the road."

And once again the taxpayers have to come up with the money. Lending more money to Greece is the height of insanity in my opinion simply because how can they possibly pay back the first tranches of money that was already lent to them? But that's what's happened today; Merkle and Sarkozy  made concessions and basically declared that "happy days are here again," but are they really? I was talking to a good friend of mine this morning who is one of the smartest people I know and I asked him point-blank, what do you think of the global and US economy? Here is what he said to me, "It is a time to be cautious and guarded." Those were his exact words. I'll let you think about that.

So okay enough of what my smart friends think, let's look and see what the market thinks about everything.

Here's what's happening in the major markets right now ... Continue reading "Which is more exciting: the market of late or a game of Pong? You choose."

Bouncing back? See which markets may be headed back up.

Hello traders everywhere, Adam Hewison here co-founder of MarketClub with your 1 p.m. market update for Thursday the 16th of June.

I ask myself this question this morning, what is going to put this market higher? The market action itself is not positive and the confidence level to drive the markets higher doesn't appear to be there in any large measure. The markets are rapidly drawing a line in the sand and when that line is broken and if you watch this show, I will tell you when. It's going to be every man and woman for himself. Get prepared for some extraordinary trading opportunities in the not to distant future.

Okay, now here's what's happening right now in the major markets ... Continue reading "Bouncing back? See which markets may be headed back up."

More of the same, but are we starting to tip down?

Hello traders everywhere, Adam Hewison here co-founder of MarketClub with your 1 p.m. market update for Wednesday the 15th of June.

Okay, now here's what's happening right now in the major markets (click to watch the video)...

SP 500: -70. The market action today can only be described as negative. A score is now -70 and our downside target for this market is 1250. Major downside support is at 1250.

Silver: -70. I would watch this market very carefully today as I feel that it is probably at the lower end of its range. We would use the Donchian Channels along with the fact that this market is oversold and expect to see a bounce from current levels. Major Support at 34.00.

Gold: +70. Gold is currently oversold and we expect to see this market balance sometime in the near future. We would not be surprised to see further sideways action but we want to be long this market as the Donchian channel comes in at 1503. Major support at 1,500. Continue reading "More of the same, but are we starting to tip down?"