1PM Update

Hi, Adam Hewison here for MarketClub. Did you miss your LIVE 1 p.m. market update for Friday the 27th of May? Watch it now!

Here's what's happening right now in the major markets ...

Hi, Adam Hewison here co-founder of MarketClub with your 1 p.m. market update for Friday the 27th of May.

Here's what's happening right now in the major markets ...

S&P 500: +55. Only the longer-term monthly Trade Triangle remains intact at this time and it is bullish. Market has recovered from the lower end of the Donchian Channel. Neutral - Major Support at 1,295-1,300. Resistance at 1,340-1,350

Silver: +65. This market reached the midpoint of the Donchian channel. The bullish divergence on the Williams %R indicator is now confirmed. Major resistance at $39.50. Rally potential up to 42.00. Near term support at 36.00. Major Support at $34.00.

Gold: +100. Longer term trend remains positive. New recovery highs in the market today. Possible second highest weekly close possible. Minor support $1,520 and $1,514.00. Major support at $1,500, $1,475.

Crude Oil: +90 Trading range. Long term indicator remains positive. Resistance at 102.00 basis July. Choppy market. Bullish divergence confirmed on the Williams %R indicator.A close over $101.90 basis July is needed to drive prices higher this could happen today.

The Dollar Index: -75. The longer term Trade Triangle has remained in a negative position. "Dark Cloud Cover" formed and confirmed a negative candle pattern. Negative divergence on the Williams%R indicator. look for further weakness to the mid point of the channel.

The Thomson Reuters/Jefferies CRB Commodity Index: -55. Highest level for this index in 12 days. A fibonacci 50% retracement = 351 and 62% = 356. Bullish divergence confirmed on the Williams %R indicator.

I hope you all enjoy the upcoming long weekend. The work never stops at MarketClub though, so be sure to check out the blog tomorrow afternoon for your weekend update!

All the best,

Adam Hewison
President of INO.com
Co-founder of MarketClub