Hello fellow traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Friday, the 6th of January.
Is the next target for APPLE (AAPL), TARGET (TGT)?
We look at what our Trade Triangles have to say about Apple and Target.
3 stocks on the move today
APOLLO GROUP INC (APOL), DEVRY INC (DV) and FAMILY DOLLAR STORES (FDO). Here's how our Trade Triangles analyze these stocks.
Look at the market later for a possible 52 week rule trade
Technicals and the Trade Triangles are all aligned for this market!
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
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
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.
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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: Trading Range -55
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
Silver remains mired in a silly season trading range and will probably stay that way for the week. It would appear as though silver has put in an interim top at the $29.70 level. A close over $30 would put in an interim bottom. With a +55 Chart Analysis Score we are in the middle of a trading range that has yet to be resolved. 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.
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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 -65
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
We suspect that today's action, and not yesterdays market action, has put in an interim top in the gold market. We would not be surprised to see a pullback to the $1560 level. With a Chart Analysis Score of -65 we expect this market to continue to be choppy. 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.
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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: 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
A trend line from the lows seen on December 15th is now supporting this market. Resistance comes in around the $3.50 to $3.55 levels. With a score of +55 we believe we are reemerging back to the downside. If that is the case it probably does not auger too well for the equity market's. 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.
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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: Strong Trend +90
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 Chart Analysis Score of +90 this market remains very much in a strong upward trend, despite today's pullback. We are however a little concerned that this market has made a three day low and this fact should be watched closely. 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.
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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: 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
Our Trade Triangle technology, which has been long this index for quite sometime, is working out really well. 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.
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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 is practically unchanged from the opening bid on Tuesday, when we began trading in 2012. If this is indeed the case, this will create a weekly Doji candlestick, which is often seen as a reversal. As we stated yesterday we continue to believe the trend is down in this index. The action seen on Wednesday confirms that we now have a top in place at $314. With a Chart Analysis Score of +55, this index is in a trading range. Our long term Trade Triangles remain negative for this index. 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 877–219–1482!
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This is Adam Hewison for MarketClub and I'll see you later today with the weekend update, right here on our MarketClub TV channel.
Take care everyone,
Adam Hewison
President INO.com and co-founder of MarketClub.com
