Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Tuesday, the 15th of November.
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IS PERSONAL MARKETCLUB COACHING RIGHT FOR YOU?
Free consultation. 877–219–1482
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What I love about the markets is that unlike most politicians, they don't lie.
Is reality finally beginning to settle into the markets?
Things aren't going to get better right away. The magnitude of the problem in Europe and Spain's failure today to sell €3.5 billion of notes, underscores just how fragile the Euro economic system is right now. Europe is a big market for US and Asian products. If Europe is weak, it can't help but spread to other parts of the world.
As an example, one only has to look at Citigroup (symbol C) to know that things are not good.
We do not expect things to get better any time soon. If you look at a chart of capitalism over the last 100 years, you get a sense of how these longer-term economic cycles work. It is going to take us years, not months, to get these economic problems worked out.
Every stock market in Europe is down for the year, in some cases in double digits. France is down 18% and the German DAX is down 13%. At the moment, the US indices are pretty much flat for the year with the exception of the DOW, which is up approximately 4%. With the volatility that we are seeing, this can change quite rapidly and we want to pay close attention to what our Trade Triangles are telling us.
Now, let's go to the charts and the video and see how we can create and maintain your wealth in 2011.
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S&P 500 INDEX
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OUR VIEW: Beginning to roll over?
Combined Strength of Trend Score = -55
The S&P 500 index continues to look somewhat heavy to us and we would view a close below $1240 as further evidence of weakness in this market. The key level to look for on a close-only basis is the $1218 level. With a Chart Analysis Score of -55 we continue to be stuck in a trading range. 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.
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Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short-Term Trends = Negative
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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.
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IS PERSONAL MARKETCLUB COACHING RIGHT FOR YOU?
Free consultation. 877–219–1482
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SILVER (SPOT)
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OUR VIEW: Trading Range
Combined Strength of Trend Score = -55
No change in our comments. The spot silver market continues to be trapped in limbo and seems unable to move either higher or lower. That is reflected in the current market action, which is about unchanged for the week. This market remains in a broad trading range bound by $33.50 an ounce on the downside and $35.50 an ounce on the upside. With our Chart Analysis Score reading +55, we seen no clear-cut trend at the moment for this metal. Generally speaking, the major trend for silver continues to be negative based on our monthly Trade Triangle, and the weekly Trade Triangle remains in conflict. Long-term traders should continue to hold short positions in silver with appropriate stops.
See today's Silver Video Here.
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Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trend = Positive
Daily Trade Triangles for Short-Term Trends = Negative
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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.
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IS PERSONAL MARKETCLUB COACHING RIGHT FOR YOU?
Free consultation. 877–219–1482
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GOLD (SPOT)
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OUR VIEW: Resistance at $1,800
Combined Strength of Trend Score = +85
For the past ten days, the spot gold market has been moving sideways and is trapped in a trading range. For the moment, the $1800 level is proving to be a formidable resistance area for spot gold. Our Chart Analysis Score remains intact, with a +85 reading indicating that this market is in strong hands. Gold indicates to us to be 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.
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Monthly trade triangles for Long-term trends = Positive
weekly trade triangles for intermediate term trends = Positive
daily trade triangles for short-term trends = Negative
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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.
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COPPER (DECEMBER)
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OUR VIEW: Resistance at $3.60
Combined Strength of Trend Score = -75
The weekly Trade Triangle remains positive and we expect that this indicator will turn negative again. Copper generally reflects economic conditions, and as such is influenced by equity prices. With a Chart Analysis Score of -75 this metal could be emerging from its trading range into a full blown bear market. 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.
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Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short-Term Trends = Negative
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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.
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CRUDE OIL (DECEMBER)
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OUR VIEW: Resistance at $100 a barrel
Combined Strength of Trend Score = +70
A move in the crude oil market below yesterday's low of 97.19 will give this market a little more downside momentum. For the past three days, this market has flirted with the $100 a barrel resistance area. This is a formidable psychological barrier and we expect that it might be tested again. With a Chart Analysis Score of +70 this market may be trying to move out of its broad trading range. The $100 level represents a 61.8% retracement of the entire down move starting from the highs seen earlier this year in April. Intermediate term traders should be on the sidelines. Long-term traders should continue to be short the crude oil market.
See today's Crude Oil Video Here.
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Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short-Term Trends = Positive
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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.
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IS PERSONAL MARKETCLUB COACHING RIGHT FOR YOU?
Free consultation. 877–219–1482
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DOLLAR INDEX
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OUR VIEW: Near-term resistance at $78.50
Combined Strength of Trend Score = +90
We would view a close today over the $78 level as a positive for this index. With a +90 Chart Analysis Score, the dollar index is in a strong upward trend. We believe the $76.5 level will act as good support for this index. We are looking for a test of the $79.50 - $80.00 levels. Our longer-term monthly Trade Triangle remains in a positive mode and our intermediate term weekly Trade Triangle turned positive last week. Long-term and intermediate term traders should maintain long positions with the appropriate stops in place.
See today's Dollar Index Video Here.
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Monthly Trade Triangles for Long-Term Trends = Positive
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short-Term Trends = Positive
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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.
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REUTERS/JEFFERIES CRB COMMODITY INDEX
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OUR VIEW: Trading Range
Combined Strength of Trend Score = +70
In the very near term, this index has resistance starting at the $320 level and extending to $321. Like many of the other markets we are tracking, the CRB index is in a trading range with a Chart Analysis Score of +70. 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 balance of the week. Our longer-term Trade Triangle remains 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.
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Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short-Term Trends = Positive
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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.
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IS PERSONAL MARKETCLUB COACHING RIGHT FOR YOU?
Free consultation. 877–219–1482
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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
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This is Adam Hewison for MarketClub and I'll see you tomorrow, right here with my mid-day update. Have a great trading day.
All the best,
Adam Hewison
President INO.com and co-founder of MarketClub.com
thank you for information.i will try to fallow
SLV is setting up for a potehtially great straddle. What say you?
that's one of the problems, though. Spain can't print more pesetas---yet.
Steve, a sort of Salvador Dali Rally of sur-real proportions, that's what Spain needs!
So Spain couldn't sell its €3.5 billion of notes? Hey, no problem, just do what we do . . .buy them back with your own money you manufacture out of thin air! It works great.
Another solution, they could get one or more of their banks to create trillions of dollars worth of derivatives, interest rate swaps with 20:1 leverage (like Morgan Stanley did the first quarter of this year, with $7 trillion of interest rate swaps, that create a huge demand for notes/bonds/sovereign bonds. Man, you will have a Spanish note RALLY. At least for a while . . .
There is an excellent interview with Stan Weinstein over at Financial Sense Online, he is a media shy legend of Technical Analysis...his newsletter is 40,000 dollars a year....if you have read his classic book Secrets of Profiting in Bull and Bear Markets, you may want to hear him speak:
http://www.financialsense.com/financial-sense-newshour/big-picture/2011/11/12/01/ryan-puplava-stan-weinstein/markets-still-in-neutral-territory
Jeremy, great to see ASX off the Beta warning! MHM.ax, first trade using smart scan a few days back...13% in a day...up 2% today...but I sold out on 13% rise...very volatile stock...Thanks 🙂
Adam, you have a wonderful team! I love those videos, so concise and quick with all the right info...you can just forget everything else in the media. regards, s
I'm sorry but this is a good example of why I am getting nothing out of the Market Club, was there anything in this Blog about Forex Trading??
John T
tomorrow looks like the day we will know if a sell off occurs based on JW Jones comments under the crude oil trader blog written 11/13/11 with the S&P sitting on the 1257 pivot and the KBW sitting below its pivot at 40. However, the banks are oversold and this divergence could resolve bullishly depending on tomorrow's price action. the Eurodollar chart shows a possible double bottom, but the OBV has broken down suggesting the Euro may well extend its down-leg and the dollar, its up-leg. we'll see. I would be happy to give Christmas to the bulls, if they will give me Thanksgiving.
No you don't have to sign up everytime you watch the video.
In the top right hand corner select "Members Login" and away you go. !
I'd love to see the video. Unfortunately every time I click for one, I am forced to sign up for INO YET AGAIN.
Many thanks, for your market insights, as a part time trader, it often happens to me I do not have too much time to follow all the headlines happening, your daily comments are often valuable piece of information I am looking for, particularly when it comes to trends. Keep up all your good work and wish you my very best.
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