Hello fellow traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Thursday, the 5th of January.
A sad picture for Kodak (EK)
We show you how our Trade Triangles would have saved you a fortune in this once iconic American company.
3 stocks on the move today
WESTERN DIGITAL (NYSE:WDC), ROSS STORES (NASDAQ:ROST) and METROPCS COMMUNICATIONS (NYSE:PCS) See what our Trade Triangle technology thinks about them.
Is the Euro in a free-fall?
Tensions, technicals and Triangles propel the Euro lower!
Now, let’s go to the one truth we count on everyday here at MarketClub, our Trade Triangle Technology!
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S&P 500 INDEX
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BIG PICTURE: Trading Range
Strength of Trend Score = +60
It looks like déjà vu again for the S&P 500 index, as it has once again slipped into a trading range. Possible negative divergence. This market remains mired in a Silly Season trading range and will probably stay that way unless it closes over $1,300. With two of our three Trade Triangles now green, it is signaling that intermediate term traders should now be out of this market. Long-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 = Bullish
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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: Trading Range
Strength of Trend Score = -55
It would appear as though silver has put in an interim top at the $29.70 level. Silver remains mired in a silly season trading range and will probably stay that way for the week. A close over $30 would put in an interim bottom. The major trend is to the downside in both the weekly and monthly Trade Triangles. Only the daily Triangle is in a positive mode. 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
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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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PERSONAL MARKETCLUB COACHING
Free consultation, Free call.
Give us a call at 877–219–1482!
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GOLD (SPOT)
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BIG PICTURE: Trading Range
Strength of Trend Score = -55
We suspect that today's action put in a top in the gold market for the moment. We would not be surprised to see a pullback to the $1560 level. With a Chart Analysis Score of -55, we expect this market to continue to be choppy but would not rule out a test of the $1620 level. With our monthly Trade Triangle now in a negative position we are no longer bullish on this metal. Intermediate term traders should be short this market at the moment waiting for the next signal with the weekly Trade Triangle.
Monthly trade triangles for Long-term trends = Bearish
weekly trade triangles for intermediate term trends = Bearish
daily trade triangles for short-term trends = Bullish
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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: Emerging Down Trend
Strength of Trend Score = -75
The copper market reversed to around the $3.50 to $3.55 levels and looks to be very much on the defensive today. With a score of -75 we believe we are reemerging back to the downside. If that is the case it probably does not auger too well for the equity markets. 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
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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 (MARCH)
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BIG PICTURE: Strong Trend
Strength of Trend Score = +90
With a Chart Analysis Score of +90 this market remains very much in a strong upward trend, despite today's pullback. The crude oil market has resistance starting at $104 up to the $105 level. Long 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 = Bullish
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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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PERSONAL MARKETCLUB COACHING
Free consultation, Free call.
Give us a call at 877–219–1482!
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DOLLAR INDEX
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BIG PICTURE: Strong Trend
Strength of Trend Score = +100
We are now looking for the dollar index to trade up to the $81.50 to $82 levels. With all three of our three Trade Triangles in a green positive mode, this index is in strong hands. Long 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
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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: Trading Range
Strength of Trend Score = +60
As we stated yesterday, we continue to believe the trend is down in this index. Today's action confirms that we have a top in the $314 area. With a Chart Analysis Score of +60, this market has moved into a trading range. Our long term Trade Triangle remains negative for this index. Long-term traders should 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 = Bullish
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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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PERSONAL MARKETCLUB COACHING
Free consultation, Free call.
Give us a call at 877–219–1482!
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This is Adam Hewison for MarketClub, I'll see you tomorrow, right here with my mid-day update. Have a successful trading day.
Take care everyone,
Adam Hewison
President INO.com and co-founder of MarketClub.com
Gold is not a commodity because it's manipulated by countries and central banks for political purposes. So any speculation about the short and intermediate terms, no matter how logically it is based, is just that, speculation. As for long term, the historical fact is that all paper currencies have eventually disappeared so people hoard gold in times of financial instability because it cannot be artificially produced. Saying that it will go down in the long term implies that financial stability of our systems is increasing, but the evidence for that is a bit slim.
Possible: Trading bounces in coffee, cocoa, sugar.
It´s the silly season and the federal deficit is escalating very rapidly. Since the end of July (remember the debt ceiling hand-wringing) the headline debt has increased by a whopping 900 billion dollars, from 14.3 to 15.2 trillion. So, the deficit this current fiscal year will most likely be 2 trillion. That´s receipts 2.5 trillion, outlays 4.5 trillion. Pretty amazing but of course exponential j-curves rise the fastest right before they crash.
I am short gold at 1580 and am worried that it takes off to the upside tomorrow after the jobs data. Would You advise closing the position?