This morning the gold market is pushing higher and it is within $18 of making a new high for the year. I'm sure this is not because of all the gold that has been won by the U.S. team in Rio, but rather to a global uneasiness hat has permeated the year so far.
In today's video, I will be analyzing gold (FOREX:XAUUSDO) and the gold mining stocks that I have discussed before. The stocks are Newmont Mining (NYSE:NEM) and Barrick Gold Corporation (NYSE:ABX). Both of these stocks are set to go significantly higher based on the Trade Triangles and their technical chart counts.
I will also be analyzing crude oil (NYMEX:CL.U16.E) and showing you a key level that I see that could pop crude up several dollars in a short period.
After their big push up last Friday, the equity markets have come to a somewhat stationary position. However, that has not altered the longer-term trend that I see in the indices which are currently in an uptrend. I will be examining each of these indexes individually and giving you my latest thoughts on the trends in each of these markets. Continue reading "Global Unease Pushes Gold Higher"→
Hello MarketClub members, well here we are at the beginning of a new trading week with lots going on. Somehow I don’t think we are going to be seeing the dog days of summer in 2016. Last Friday the major indices resumed their upward journey and the continuation pattern I discussed in my previous video. I continue to think that the equity markets can go higher, a lot higher based on the Trade Triangles and the technical formation on the charts.
I can see the DOW (INDEX:DJI) moving over the 20,000 mark in the next several months. The markets could get another boost today as one of the presidential hopefuls is going to propose the biggest tax cuts we have ever seen in modern times. Continue reading "The DOW Heads For 20,000"→
Hello MarketClub members everywhere. It is no secret that the energy sector has been under pressure after crude oil (NYMEX:CL.U16.E) hit a peak of around $52.00 a barrel on June 8th. Since then crude oil has steadily trended lower dipping below $40.00 just this week.
The Trade Triangles just covered the last short position from $45.64 yesterday at $41.88 for a gain of $3.76 or $3,760.00 per contract. As of today, the Trade Triangles are in a neutral position and awaiting the next signal.
All of this leads me to one energy stock that is defying the odds and is standing out like a sore thumb and begging to be purchased and that stock is Kinder Morgan Inc. (NYSE:KMI). In today's video I will walk you thru the primary reasons why I like this stock and more importantly where the exit door is if my analysis is wrong.
In addition to Kinder Morgan, I will be analyzing at gold and the major indices today.
Have a great trading day and weekend.
Stay focused and disciplined.
Every success with MarketClub, Adam Hewison