Hello fellow traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Wednesday, the 15th of February.
Trading Tip: DON'T FIGHT THE MARKET … MOVE WITH THE MARKET
Today's 3 Big Movers on S&P500 INDEX:
DEAN FOODS (DF), ABERCROMBIE & FITCH CO (ANF), and JUNIPER NETWORKS (JNPR).
Did MarketClub's Trade Triangle technology put money in your pocket on these three stocks?
Today's 3 Big Movers on NASDAQ:
BIOSANTE PHARMACEUTICALS (BPAX), SEAENERGY MARITIME (SHIP), and NEWLEAD HOLDINGS LTD (NEWL).
Did MarketClub's Trade Triangle technology put money in your pocket on these three stocks?
And 3 Big Losers...
FMC TECHNOLOGIES (FTI), DEERE CO (DE), and CAMERON INTERNATIONAL (CAM).
Did MarketClub's Trade Triangle technology save your butt on these three stocks?
Now, let's analyze the markets using 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: Trading Range 50 – 65 | Emerging Trend 70 – 80 | Strong Trend 85 – 100
We are still targeting the $1360 level for this index, equivalent to the highest it was seen in May of 2011. The S&P 500 Index continues to move sideways as it regroups above the $1340 area. Longer-term we expect this market to move up to the $1550 to $1600 level and that could happen by late May, early June based on our cyclic work. With all three 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: Trading Range +60
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 it me or does it feel like dejå vu every single day with the silver market? For the past 17 days, the silver market has oscillated between support at $33 an ounce and resistance which comes in just over the $34.50 level. With a Score of +60 today this market is back in a trading range. We think this market is at the top of a trading cycle, but has not provided conclusive proof that the cycle has 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. Our long-term monthly Trade Triangle remains negative on silver. 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 +60
TRADE TRIANGLES: Long-Term = Bearish | Intermediate Term = Bullish | Short-Term = Bearish
MARKETCLUB SCORING SYSTEM: Trading Range 50 – 65 | Emerging Trend 70 – 80 | Strong Trend 85 – 100
The choppy action continues in gold. However, we did show some progress with a move to a four-day high. With a Score of +60 this market is in a trading range. The gold market is getting to an oversold area that may provide further support on any future sell-offs. We would not be surprised to see gold move lower and be on the defensive until the middle of May. With our long-term monthly Trade Triangle still in a negative red mode, we cannot get to excited about this market at the moment. We are not super bearish on this metal, we just need further confirmation with the tools we know are successful in trading gold. 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 (MAY)
BIG PICTURE: Trading Range +55
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bullish | Short-Term = Bearish
MARKETCLUB SCORING SYSTEM: Trading Range 50 – 65 | Emerging Trend 70 – 80 | Strong Trend 85 – 100
ATTENTION: We are now tracking the MAY copper contract. The copper market seems to be taking its cue from the gold and silver market and has fallen into a trading range. The expected support area at $3.80 was enough to keep the downward pressure on this market in check. We continue to view the longer-term trend in copper as positive. With a Score of +55, we are in a trading range with a bias to the upside and we continue to be positive on this market. Look for support at the $3.80 level. The market action looks as though it has created a large base to move higher in the future. 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 (APRIL)
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
ATTENTION: We are now tracking the APRIL crude oil contract. With all of our Trade Triangles now green, crude oil could move significantly higher. We are looking for crude oil to make its highs probably somewhere in the May period. We want to pay close attention to this market as we believe that the recent market action is reflecting an important cyclic low period for this market. With a Score of +90 this market is in a strong trend to the upside. We remain longer term positive on this market. With our monthly, weekly and daily Trade Triangles in a positive mode, we expect we will see further gains in crude oil. 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 +75
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
With the bullish divergence now confirmed, we now expect this index to run into selling pressure between $80 and $80.40. With a Score of +75, this market is in an emerging trend to the upside. Long term traders using our monthly Trade Triangle 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
This index is trapped in a broad trading range bound by $320 on the upside and $310 on the downside. With a Score of +70 this market has yet to establish a strong trend either way. Our longer-term Trade Triangle remains red and negative on this market. 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 tomorrow with my mid-day update. Have a profitable trading day.
Take care everyone,
Adam Hewison
President INO.com and co-founder of MarketClub.com
hi i need information gold
Hosien,
Watch the afternoon update today for info on Gold. We'll be posting is around 1:30 pm EST today.
Best,
Jeremy
Why is that there is no triangle trades for 30, 15 minute charts. I can see red line on the chart not sure if this is some kind of entry or exit signals/
Trial Member,
The Trade Triangles are only produced for the Daily, Weekly and Monthly charts. We do not offer them for the minute charts at the present time.
The red lines denote the previous days close.
Best,
Jeremy