Hello fellow traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Frida,y the 27th of January.
How to find winning trades on Friday:
Look at stocks using MarketClub's SmartScan tool and search for stocks making 52-week highs. The results are stocks that are making and are closing close to new 52-week highs. You should also filter the results by volume, avoiding low volume stocks. You can then go long 5 to 10 minutes before the close and hold the stock over the weekend. You would then exit the same stock on Tuesday morning, on the opening.
3 stocks on our radar today:
EASTMAN CHEMICAL CO (EMN), NEWELL RUBBERMAID (NWL), and DEVREY INC (DV),
MarketClub's Trade Triangle technology looks at these three stocks.
Always remember …
DON'T FIGHT THE MARKET … MOVE WITH THE MARKET
Now, let's go to the charts and MarketClub's Trade Triangle Technology.
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S&P 500 INDEX
BIG PICTURE: Strong Trend +90
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bullish | Short-Term = Bullish
MARKETCLUB SCORING SYSTEM: Trading Range 50 – 65 | Emerging Trend 70 – 80 | Strong Trend 85 – 100
It would appear we have put in an interim high in this index at the $1338 level. With a Chart Analysis Score of +90, this market remains in a strong upward trend. We now have an upside target in the next two or three months between $1370 and $1400 for this index. That is not to say it will be straight up from here, we would expect to see pullbacks and expect the $1300 level to act as support. With all of our Trade Triangles green, a bull market is underway. Long and Intermediate term traders should now be holding long positions in this index with appropriate money management stops.
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Watch 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)
BIG PICTURE: Emerging Trend +70
TRADE TRIANGLES: Long-Term = Bearish | Intermediate Term = Bullish | Short-Term = Bullish
MARKETCLUB SCORING SYSTEM: Trading Range 50 – 65 | Emerging Trend 70 – 80 | Strong Trend 85 – 100
The sharp move up did not change our long-term monthly Trade Triangle, which we consider to be the bigger trend in this market for long term traders. We think this market is at the top of a trading range cycle but has not provided conclusive proof that the cycle has indeed topped out. With our long-term monthly Trade Triangle in a red negative mode, we expect to see this market run out of steam around current levels. A Chart Analysis Score for silver of +70 indicates a possible emerging trend. This particular indicator has done extremely well in the past. Long-term term traders should be in short positions in silver with appropriate money management stops. Intermediate term traders should be on the sidelines.
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Watch 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 & 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)
BIG PICTURE: Trading Range +70
TRADE TRIANGLES: Long-Term = Bearish | Intermediate Term = Bullish | Short-Term = Bullish
MARKETCLUB SCORING SYSTEM: Trading Range 50 – 65 | Emerging Trend 70 – 80 | Strong Trend 85 – 100
Is this just a correction to the upside, or an actual turn in the market? With a Chart Analysis Score of +70, gold could be developing an emerging trend to the upside. We are reluctant to chase gold at these current levels. That factor along with our negative monthly Trade Triangle, continues to act as an inhibitor for this market on the upside. Long-term term traders should be in short positions in gold with appropriate money management stops. Intermediate term traders should be on the sidelines.
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Watch 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 & 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)
BIG PICTURE: Strong Trend +90
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bullish | Short-Term = Bullish
MARKETCLUB SCORING SYSTEM: Trading Range 50 – 65 | Emerging Trend 70 – 80 | Strong Trend 85 – 100
The trend is your friend and with all three of our Trade Triangles green, we expect to see this market continue to improve in the weeks and months ahead. As we have said in the past, copper generally reflects economic conditions, and as such is influenced by equity prices. Look for support at the $3.70 level. The market action looks as though it has created a large base to move higher in the future. Upside target zone for copper is $4.00. With a Score of +90, we are in a strong trend for this commodity. Long and Intermediate term traders should now be holding long positions in this index with appropriate money management stops.
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Watch today’s Copper Video Here.
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Suggested Copper Trading Instruments:
Non Leveraged ETF’s: (Long JJC)
Futures & 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)
BIG PICTURE: Trading Range -55
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bearish | Short-Term = Bullish
MARKETCLUB SCORING SYSTEM: Trading Range 50 – 65 | Emerging Trend 70 – 80 | Strong Trend 85 – 100
Crude oil is higher for the week, which jives very well with our long-term monthly Trade Triangle. However, the crude oil market continues to consolidate over the $98 level and with a Chart Analysis Score of -55 today, this market has moved into a trading range. We are longer term positive on this market, however it must move over resistance at $104 to get its upside momentum into high gear. With our daily and monthly Trade Triangles in positive modes, we expect we will see further market consolidation in crude oil. Long-term traders should be long this market with appropriate money management stops.
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Watch 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 & 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
BIG PICTURE: Emerging Trend -70
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bearish | Short-Term = Bearish
MARKETCLUB SCORING SYSTEM: Trading Range 50 – 65 | Emerging Trend 70 – 80 | Strong Trend 85 – 100
The negative engulfing line we discussed last week, was confirmed this week with the market closing sharply lower. Only our monthly Trade Triangle remains long this index and remains in a bullish mode. Long term traders should maintain long positions with the appropriate stops in place.
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Watch 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
BIG PICTURE: Trading Range +70
TRADE TRIANGLES: Long-Term = Bearish | Intermediate Term = Bullish | Short-Term = Bullish
MARKETCLUB SCORING SYSTEM: Trading Range 50 – 65 | Emerging Trend 70 – 80 | Strong Trend 85 – 100
As we discussed earlier in the week, the $316 level was a key inflation indicator. This market did look over that area and completed a classic head and shoulders base, which is capable of taking this market higher. We would now look for the $316 level to act as support. Our long term Trade Triangle remains negative for this index, while our intermediate signal is green and calling for higher prices. Long-term traders should hold short positions in this index with appropriate money management stops.
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Watch 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 & 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
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Give us a call at:
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International: 1-801-341-3981
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This is Adam Hewison for MarketClub and I'll be here tomorrow with my weekend update. Here's to a trading day filled with profits!
Take care everyone,
Adam Hewison
President INO.com and co-founder of MarketClub.com
Saw your banner on the Investor's Summit this March. I'm sure many of us would love to attend but won't be able to for one good reason or another, so will we have a chance to participate online?
Sir, you do a very nice job ! Thank you for all information . Keep going! +10 !!