Hello fellow traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Wednesday, the 18th of January.
APPLE (AAPL) … we've taken a lot of bites out of this stock.
How MarketClub's Trade Triangles locked onto Apple at $103.60!!
Head YAHOO out … what does this mean for YAHOO (YHOO) shareholders?
See how our Trade Triangles analyze this stock.
3 Stocks Moving Today
LINEAR TECH (LLTC), AMPHENOL (APH), and MICRON (MU),
We show you what our Trade Triangles are saying about these three stocks.
Don't fight the market, trade the market!
Always remember that sentiment and perception are huge components of 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 +100
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bullish | Short-Term = Bullish
MARKETCLUB SCORING SYSTEM: 50 – 65 Trading Range | 70 – 80 Emerging Trend | 85 – 100 Strong Trend
The S&P 500 Index continues to move higher and is certainly testing the $1300 level again. A strong close over this area will suggest further strength ahead for this index. All three of our Trade Triangles are now green, signaling that 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: 50 – 65 Trading Range | 70 – 80 Emerging Trend | 85 – 100 Strong Trend
Given the technical picture in silver, it is hard to get enthusiastic about the long side of this market. A Chart Analysis Score for silver of +70 indicates an emerging trend, however our long-term monthly Trade Triangle remains negative. This particular indicator has done extremely well in the past. The major trend is still to the downside in the monthly Trade Triangle. 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 +60
TRADE TRIANGLES: Long-Term = Bearish | Intermediate Term = Bearish | Short-Term = Bullish
MARKETCLUB SCORING SYSTEM: 50 – 65 Trading Range | 70 – 80 Emerging Trend | 85 – 100 Strong Trend
A long-term downtrend line drawn from the highs of September 5, 2011 and intersecting the November 13th and December 4th highs, continues to be the overriding factor in this market. That factor, along with our negative monthly Trade Triangle continues to act as an inhibitor for this market, in our opinion. With a Chart Analysis Score of +60, this market is in a trading range. With our monthly Trade Triangle in a negative position we are no longer quite as bullish on this metal. 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: Emerging Trend +70
TRADE TRIANGLES: Long-Term = Bearish | Intermediate Term = Bullish | Short-Term = Bullish
MARKETCLUB SCORING SYSTEM: 50 – 65 Trading Range | 70 – 80 Emerging Trend | 85 – 100 Strong Trend
As stated numerous times, copper generally reflects economic conditions, and as such is influenced by equity prices. With equity prices moving higher today, it is in return reflected in higher copper prices. The $3.75 level in copper appears to be offering some resistance and we would not be surprised to see a pullback from current levels. The market action looks as though it is trying to base out to go higher in the future. Only our monthly Trade Triangle is negative on this market at the moment. With a Score of +70, we are in an emerging trend for this commodity. 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.
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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: Emerging Trend +70
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bullish | Short-Term = Bullish
MARKETCLUB SCORING SYSTEM: 50 – 65 Trading Range | 70 – 80 Emerging Trend | 85 – 100 Strong Trend
The consolidation in crude oil above the $98 a barrel level continues. We are longer term positive on this market, however it must move over resistance at $104 to get upside momentum into high gear. With a Chart Analysis Score of +70, this market is in an emerging trend, however with all our Trade Triangles positive, we expect we will see this market breakout to the upside. Long and intermediate-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: Trading Range +55
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bullish | Short-Term = Bearish
MARKETCLUB SCORING SYSTEM: 50 – 65 Trading Range | 70 – 80 Emerging Trend | 85 – 100 Strong Trend
The Chart Analysis Score for the dollar index is now at +55, indicating that we are in a trading range. The $80.5 level is an important support level for this index. A move below this level would more than likely call for a test of the $79.50 area, in our opinion. For the past 11 days, the dollar index has been moving sideways, but so far remains above support at $80.5. Our Trade Triangle technology has been long this index for quite sometime and remains in a bullish mode. Long and intermediate 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 -55
TRADE TRIANGLES: Long-Term = Bearish | Intermediate Term = Bullish | Short-Term = Bearish
MARKETCLUB SCORING SYSTEM: 50 – 65 Trading Range | 70 – 80 Emerging Trend | 85 – 100 Strong Trend
This index shows a strong potential for making a right shoulder of a head and shoulders bottom, which if true and we moved over the $316 level, would indicate much higher levels of inflation. With a Chart Analysis Score of -55, this index has once again fallen into a trading range. We suspect that the $306-$307 levels are going to lend more support to this market on any further weakness. 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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This is Adam Hewison for MarketClub and I'll see you TONIGHT, at 5PM EST with MarketClub TV. Have a profitable trading day!
Take care everyone,
Adam Hewison
President INO.com and co-founder of MarketClub.com
Hi,
your trade triangle technology says +100 green daily, monthly and weekly triangle for S&P 500. If s&p 500 rises dollar index moves down as there is correlation. If dollar index going down gold should rise. But your trade triangles are bearish on gold on monthly. Could you please explain if there is contradiction here?
Sunita,
Thanks for your feedback.
We go with what the Trade Triangles are showing and try not to overthink the market.
All the best,
Adam
As best as I can tell from option open interest, the market makers will bring it back down to SP500 1280 by Friday. That way they maximize the losers on the expiring Jan options, then on Monday maybe Mother Nature can take over. But that is just my guess.