Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Monday, the 7th of November.
-------------
Now more than ever you may need PERSONAL MARKETCLUB COACHING!
The call is free and the consultation is free.
877–219–1482
-------------
Are Rome and Athens rearranging the deck chairs?
Changing the leadership in Europe is sort of like rearranging the deck chairs on the Titanic, as we steam forward to meet that big financial iceberg.
Talk that Berlusconi is going to resign and that the present Greek Prime Minister Papandreou is going to resign when the new coalition government is formed, is all about delaying the inevitable.
No sooner had we thought the problem with Greece was over, (who are we kidding?) when Italy pops up on the radar screen.
Italy is a much bigger problem than Greece. The amount of money they owe is staggering and Italy will be impossible to bailout. As I said earlier, they can "rearrange the deck chairs", but everyone owes too much money and we still appear to be heading for that big iceberg that is not going to melt anytime soon.
Even with new governments and new heads of governments in place, the problem remains. A gigantic amount of debt is still out there that has to be paid back, written off or disposed of.
I can't imagine Greece suddenly having all of their citizenship agree to a very austere economy. No economy ever grew when it was contracting, it's just not how economics work.
Now, let's go to the charts and the video and see how we can create and maintain your wealth in 2011.
-------------
S&P 500 INDEX
-------------
OUR VIEW: $1260 resistance - $1220 support
We would view a close today below $1237 as negative for this index. We still believe that the $1220 level holds the key for the S&P 500. With a Chart Analysis Score of +55 we are in a trading range which could be very broad at this time. Intermediate traders should be on the sidelines waiting for a new Trade Triangle short signal. Long-term traders should either be in cash or continue to hold short positions in this index.
See today's S&P 500 Video Here.
-------------
Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short-Term Trends = Negative
Combined Strength of Trend Score = + 55
-------------
Suggested S&P 500 Trading Instruments:
Non Leveraged ETF's: (Long SPY) (Short SH)
2 x Leveraged ETF's: (Long SSO)(Short SDS)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity is some ETFs is very thin. Contact your broker for more information.
-------------
ENTER HERE TO WIN A FREE 1 YR SUBSCRIPTION TO MARKETCLUB ON A WiFi TABLET
-------------
SILVER (SPOT)
-------------
OUR VIEW: Trading Range
The spot silver market remains in a broad trading range bound by $32 an ounce on the downside and $36 an ounce on the upside. With our Chart Analysis Score reading +70, we see no clear-cut direction at the moment in this metal. Generally speaking, the major trend for this metal continues to be negative while the intermediate trend is in conflict based on our Trade Triangles. Long-term traders should continue to hold short positions in silver with appropriate stops.
See today's Silver Video Here.
-------------
Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trend = Positive
Daily Trade Triangles for Short-Term Trends = Positive
Combined Strength of Trend Score = + 70
-------------
Suggested SILVER Trading Instruments:
Non Leveraged ETF's: (Long SLV) (Short the ETF SLV)
Leveraged ETF's: (Long AGQ) (Short ZSL)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity is some ETFs is very thin. Contact your broker for more information.
-------------
ENTER HERE TO WIN A FREE 1 YR SUBSCRIPTION TO MARKETCLUB ON A WiFi TABLET
-------------
GOLD (SPOT)
-------------
OUR VIEW: Resistance at $1,800 basis spot
The gold Chart Analysis Score remains at +100, indicating to us to be very concerned about what is happening in Europe and the financial markets. Long-term and intermediate term trends remain positive for this precious metal. Intermediate and long-term traders should maintain long positions with the appropriate money management stops in place.
See today's Gold Video Here.
-------------
Monthly trade triangles for Long-term trends = Positive
weekly trade triangles for intermediate term trends = Positive
daily trade triangles for short-term trends = Positive
Combined Strength of Trend Score = + 100
-------------
Suggested GOLD Trading Instruments:
Non Leveraged ETF's: (Long GLD) (Short the ETF GLD)
Leveraged ETF's:(Long UGL) (Short GLL)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity is some ETFs is very thin. Contact your broker for more information.
-------------
COPPER (DECEMBER)
-------------
OUR VIEW: $3.50 now key support
Copper continues to move sideways in a trading range. Copper generally reflects the economic conditions and as such is influenced by equity prices. With a Chart Analysis Score of -55, this metal is in a trading range. Should we see this market close below the $3.50 area we would view that close in a negative light, looking for more pressure for the next several weeks. Generally speaking, the major trend for this metal continue to be negative while the intermediate trend is in conflict. Long-term traders should continue to hold short positions in copper with appropriate stops.
See today's Copper Video Here.
-------------
Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short-Term Trends = Negative
Combined Strength of Trend Score = - 55
-------------
Suggested Copper Trading Instruments:
Non Leveraged ETF's: (Long JJC)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity is some ETFs is very thin. Contact your broker for more information.
-------------
CRUDE OIL (DECEMBER)
-------------
OUR VIEW: Trading Range
The crude oil market continues to inch higher, but seems to lack any strong conviction on the upside. Our short term Trade Triangle moved into a positive position, changing the Chart Analysis Score to a +70. However, the December contract for crude oil remains in a trading range bound by $90 a barrel support on the downside, and $95 a barrel resistance on the upside. With a score of +70, this market maybe trying to move out of its broad trading range. Depending what happens to equity markets and the global economy will likely be reflected in this commodity. Intermediate term traders should be on the sidelines and long-term traders should continue to be short the crude oil market.
See today's Crude Oil Video Here.
-------------
Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short-Term Trends = Positive
Combined Strength of Trend Score = + 70
-------------
Suggested Trading Instruments:
Non Leveraged ETF's: (Long USO) (Short the ETF USO)
Leveraged ETF's: (Long UCO) (Short DTO)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity is some ETFs is very thin. Contact your broker for more information.
-------------
ENTER HERE TO WIN A FREE 1 YR SUBSCRIPTION TO MARKETCLUB ON A WiFi TABLET
-------------
DOLLAR INDEX
-------------
OUR VIEW: Resistance at $77.50
This index appears to be creating a pennant formation that is capable of taking this index up to the $80.00 area. The market really needs to close over near term resistance at $77.50 to get moving on the upside again. For the past five days, we have seen this market bounce back and forth as it consolidates its recent gains. What is taking place in Europe right now is having a major impact on this particular index. While our longer-term monthly Trade Triangle remains in a positive mode, our intermediate term weekly Trade Triangle remains in conflict. Long-Term traders should maintain long positions with the appropriate stops in place.
See today's Dollar Index Video Here.
-------------
Monthly Trade Triangles for Long-Term Trends = Positive
Weekly Trade Triangles for Intermediate Term Trends = Negative
Daily Trade Triangles for Short-Term Trends = Positive
Combined Strength of Trend Score = + 75
-------------
Suggested DOLLAR INDEX Trading Instruments:
Non Leveraged ETF's: (Long UUP) (Short UDN)
Leveraged ETF's: (Long) (Short)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity is some ETFs is very thin. Contact your broker for more information.
-------------
REUTERS/JEFFERIES CRB COMMODITY INDEX
-------------
OUR VIEW: Trading Range
Like many of the other markets we're tracking right now, the CRB index is in a trading range with a Chart Analysis Score of + 60. Resistance is evident at the $325 level and support comes in around the $315 area. Look for these levels to contain the market for the next few days. Our longer-term Trade Triangles remain negative for this index. Intermediate term traders should be on the sidelines. Long-Term traders should maintain short positions with the appropriate money management stops in place.
See today's REUTERS/JEFFERIES CRB COMMODITY INDEX Video Here.
---------------
Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short-Term Trends = Negative
Combined Strength of Trend Score = + 60
---------------
Suggested REUTERS/JEFFERIES CRB COMMODITY INDEX Trading Instruments:
Non Leveraged ETF's: (Long CRBQ) (Short the ETF CRBQ)
Leveraged ETF's: (Long) (Short CMD)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity is some ETFs is very thin. Contact your broker for more information.
---------------
Market proven, Trade Triangles catch the big moves.
--------------
Ask yourself this question, IS PERSONAL COACHING RIGHT FOR ME?
Call today: 877–219–1482 the call is free and the consultation is free.
Watch my personal invitation to you about MarketClub coaching right here.
--------------
HOW TO USE THE MARKETCLUB SCORING SYSTEM:
Chart Analysis Score: 50 - 65 Trading Range
Chart Analysis Score: 70 - 80 Emerging Trend
Chart Analysis Score: 85 - 100 Strong Trend
This is Adam Hewison for MarketClub and I'll see you tomorrow, right here with my mid-day update. Have a profitable trading day.
All the best,
Adam Hewison
President INO.com and co-founder of MarketClub.com
DeeA, The current downturn has lasted 3 months so a reversal will be at least 3 months. However when bulls get running it is always magnified by at least 1.5 to 2 because of herd chasing.
Tradegram: trading program.
No guarantees in life, especially in the market.
2 x Leveraged ETF’s: (Long SSO)(Short SDS)! I love it!
CWH comment: "Current grind could last 3-6 months." I like what you said about the "sucked in shorts" AND "nail biting, bail-at-a-blip longs", but wonder how you arrive at the 3-6 month time frame. What is a tradegram?
yes i was very disappointed with the personal coaching at the beginning. they were 45 minutes late on the very first call and they completely missed (forgot) the second call. to top it off their international phone number did not work from canada, so there was no way to get a hold of them. forget about support from marketclub. even though they actively promote it, they do not provide any support for it - i still haven't received a response from MC to my email, that was 3 weeks ago!!!!! my sessions are now on track and the phone numbers sorted out, and the sessions are actually very good, but i expected a lot more from marketclub.
The market has entered what I call the "tick you off" zone. It will continue to grind higher although the whole time it looks like it is going to roll over.
Shorts get sucked in and squeezed out, and longs may gain but bite their nails the whole way causing the weak of stomach to bail at a blip. Which keeps the market looking like a roll over.
The bull trend won't be caught by tradegrams until a much higher leg blows through a significant technical level.
This current grind could last 3-6 months.
Ginny
Do should not short the S&P500 at all.
Doing so is considered pure gamble.
Its better to put your money in casino...
Buy good companies that make money. Go long on them.
Shorting is not considered an investment run away from it.
CORRECTION TO ABOVE "I WAS VERY DISAPPOINTED WITH THE LACK OF ANALYSIS OF THE S&P TODAY." THE INDEXES HAVE RED MONTHLY TRADE TRIANGLES INDICATING NEGATIVE LONG TERM TRENDS. NOW THE SHORT ETFS I OWN, TZA AND DXD ARE -100. HOW DO YOU FOLLOW BOTH?
I SAW NO ANALYSIS ON THE S&P TODAY. THAT IS ONE OF THE USUAL AND VERY IMPORTANT MARKETS THAT WE COVER IN MARKET CLUB. tI WAS VERY DISAPPOINTED. ALL OF SUDDEN THE NASDAQ BECAME MORE IMPORTANT. I HAVE BEEN FOLLOWING THE MONTHLY TRIANGLES IN THE INDEXES GOING SHORT AS THE GREEN MONTHLY TRIANGLES WOULD INDICATE. NOW THE SHORT ETFS I OWN, TZA AND ARE -100. HOW DO YOU FOLLOW BOTH? I AM QUITE FRUSTRATED AT THIS POINT. OF LATE, WE HAVE MISSED TWO OF OUR PERSONAL COACHING SESSIONS DUE TO COACHES VACATION AND A TOTALLY MISSED SESSION WITH NO NOTIFICATION TO US AT ALL. I AM NOT AT ALL SATISFIED WITH THE SERVICE AT THIS TIME.
OH YES!!! And to say nothing of the teensy weensy Good Ole' U. S. of A. American debt of $14,749,855,984,418 @15:45 Hrs. on 11/07/11 Heeyyy? [Re: http://zfacts.com/p/461.html ]