What's Going On With DuPont? And Other Tall Tales From Europe...

Hello traders everywhere!  Adam Hewison here, co-founder of MarketClub with your mid-day market update for Friday, the 9th of December.

Stocks in the News
DuPont Co., the most valuable US chemical maker, cut its 2011 earnings forecast by 10 cents. We analyze this stock for you today.

Euro up, Euro down
Today, we will take a close look at the euro and see if you should be long or short this currency.

Stocks on the move
We will be looking at three stocks today that are having big moves and analyze if those moves are for real.

Now, let’s go to the one truth you can count on, the charts!  Let's see how they can create, protect, and expand your wealth in the future.

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S&P 500 INDEX
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BIG PICTURE: Trading Range

The Trade Triangles are showing a Chart Analysis Score of +55, indicating we are in a trading range for the S&P 500.  Our weekly Trade Triangle turned positive last Monday, signaling that intermediate term traders should now be out of this market.  Long-term term traders should either be in cash or continue to hold short positions in this index with appropriate money management stops.

Monthly Trade Triangles for Long-Term Trends = Bearish
Weekly Trade Triangles for Intermediate Term Trends = Bullish
Daily Trade Triangles for Short-Term Trends = Bearish

Combined Strength of Trend Score = +55
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HOW TO USE THE MARKETCLUB SCORING SYSTEM:
Score: 50 – 65 Trading Range
Score: 70 – 80 Emerging Trend
Score: 85 – 100 Strong Trend
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See today’s S&P 500 Video Here.
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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 in some ETFs is very thin. Contact your broker for more information.
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SILVER (SPOT)
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BIG PICTURE: Emerging Trend

With a Chart Analysis Score of -75, silver is in the mid point of an emerging trend to the downside.  Generally speaking, the major trend for silver continues to be negative based on our monthly and weekly Trade Triangles.  Our intermediate weekly Trade Triangle turned negative on 11/17.  Long-term and intermediate term traders and short term traders should be in short positions in silver with appropriate money management stops.

Monthly Trade Triangles for Long-Term Trends = Bearish
Weekly Trade Triangles for Intermediate Term Trend = Bearish
Daily Trade Triangles for Short-Term Trends = Bullish

Combined Strength of Trend Score = -75
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HOW TO USE THE MARKETCLUB SCORING SYSTEM:
Score: 50 – 65 Trading Range
Score: 70 – 80 Emerging Trend
Score: 85 – 100 Strong Trend
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See today’s Silver Video Here.
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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 in some ETFs is very thin. Contact your broker for more information.

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GOLD (SPOT)
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BIG PICTURE: Trading Range

Gold now has a Chart Analysis Score of -55, pushing gold back into a trading range.  With our monthly Trade Triangle still in a positive position we remain longer term bullish on this metal. Intermediate term traders should be out of this market at the moment and on the sidelines waiting for a buy signal with the weekly Trade Triangle.

Monthly trade triangles for Long-term trends = Bullish
weekly trade triangles for intermediate term trends = Bearish
daily trade triangles for short-term trends = Bullish

Combined Strength of Trend Score = -55
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HOW TO USE THE MARKETCLUB SCORING SYSTEM:
Score: 50 – 65 Trading Range
Score: 70 – 80 Emerging Trend
Score: 85 – 100 Strong Trend
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See today’s Gold Video Here.
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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 in some ETFs is very thin. Contact your broker for more information.

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COPPER (MARCH)
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BIG PICTURE: Trading Range

Our comments remain the same as yesterday for this metal. Resistance comes into copper today at the top of the Donchian trading channel at $3.60.  Support comes in at $3.50.  With today’s Chart Analysis Score of +55, the market is in a trading range.  As stated before, copper generally reflects economic conditions, and as such is influenced by equity prices.  With equity prices moving higher, it is in return reflected in higher copper prices.  The major trend based on our monthly Trade Triangle continues to be negative.  Long-term traders should continue to hold short positions in copper with appropriate money management stops.  Intermediate term traders should now be on the sidelines.

Monthly Trade Triangles for Long-Term Trends = Bearish
Weekly Trade Triangles for Intermediate Term Trends = Bullish
Daily Trade Triangles for Short-Term Trends = Bearish

Combined Strength of Trend Score = +55
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HOW TO USE THE MARKETCLUB SCORING SYSTEM:
Score: 50 – 65 Trading Range
Score: 70 – 80 Emerging Trend
Score: 85 – 100 Strong Trend
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See today’s Copper Video Here.
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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 in some ETFs is very thin. Contact your broker for more information.

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CRUDE OIL (JANUARY)
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BIG PICTURE: Trading Range

It looks like the $101.75 area basis the January contract appears to be offering stiff resistance for this commodity at the present time. The 61.8% Fibonacci retracement level of $97.84 outlined in yesterdays report, was enough to reverse this market today to the upside.  With two of our Trade Triangles green, giving us a +65 Chart Analysis Score, it still appears as though the under lying elements of this market remain bullish.  Long-term, and intermediate term traders should be long this market with appropriate money management stops.

Monthly Trade Triangles for Long-Term Trends = Bullish
Weekly Trade Triangles for Intermediate Term Trends = Bullish
Daily Trade Triangles for Short-Term Trends = Bearish

Combined Strength of Trend Score = +65
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HOW TO USE THE MARKETCLUB SCORING SYSTEM:
Score: 50 – 65 Trading Range
Score: 70 – 80 Emerging Trend
Score: 85 – 100 Strong Trend
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See today’s Crude Oil Video Here.
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Suggested Crude Oil 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 in some ETFs is very thin. Contact your broker for more information.

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DOLLAR INDEX
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BIG PICTURE: Strong Trend Bullish

The $79.00 level was enough to stop this index in its tracks today.  The $78.00 area is now seen as an important level of support for this market.  Resistance kicks in today at $79.50.  The possibility of a major double top in this index is something every trader should be aware of.  With all of our Trade Triangles in a positive mode, we remain bullish on the market.  Long-Term and intermediate term traders should maintain long positions with the appropriate stops in place.

Monthly Trade Triangles for Long-Term Trends = Bullish
Weekly Trade Triangles for Intermediate Term Trends = Bullish
Daily Trade Triangles for Short-Term Trends = Bullish

Combined Strength of Trend Score = +70
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HOW TO USE THE MARKETCLUB SCORING SYSTEM:
Score: 50 – 65 Trading Range
Score: 70 – 80 Emerging Trend
Score: 85 – 100 Strong Trend
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See today’s Dollar Index Video Here.
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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 in some ETFs is very thin. Contact your broker for more information.

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REUTERS/JEFFERIES CRB COMMODITY INDEX
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BIG PICTURE: Strong Trend Bearish

Based on our Trade Triangle technology, this index is in a bearish trend.  Support should be seen at the $305 area for the balance of the week.  With all three of our Trade Triangle indicators red we remain firmly in the bearish camp for this market.  Our long and intermediate term Trade Triangles remain negative for this index. Long-term and intermediate term traders should continue to hold short positions in silver with appropriate money management stops.

Monthly Trade Triangles for Long-Term Trends = Bearish
Weekly Trade Triangles for Intermediate Term Trends = Bearish
Daily Trade Triangles for Short-Term Trends = Bearish

Combined Strength of Trend Score = -100
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HOW TO USE THE MARKETCLUB SCORING SYSTEM:
Score: 50 – 65 Trading Range
Score: 70 – 80 Emerging Trend
Score: 85 – 100 Strong Trend
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See today’s REUTERS/JEFFERIES CRB COMMODITY INDEX Video Here.
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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 in some ETFs is very thin. Contact your broker for more information.

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This is Adam Hewison for MarketClub and I’ll see you tomorrow, right here with my weekend update.  Have a great trading day.

All the best,
Adam Hewison
President INO.com and co-founder of MarketClub.com