Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Tuesday, the 12th of June.
DailyXchange
Post and prosper right here with other MarketClub members everyday. We welcome your thoughts and comments.
What, if anything, has changed? The European problem is still around and hasn't gone away. The US is up to its eyeballs in debt and US companies don't want to bring their money back into the US because of high taxes and political uncertainty. And if that was not enough, we have a Greek election on the 17th. What's an investor to do?
Best advice I can give is to go with the flow, don't fight the market, and follow the Trade Triangles.
TODAY'S MARKET MOVING SECTORS and STOCKS:
Percentage changes in stocks are relative to the S&P 500
| CONSUMER GOODS: -0.53% | Biggest Loser HAR -10.28% |
| SERVICES: -0.04% | Biggest Loser H -2.04% |
| HEALTHCARE: +0.21% | Biggest Winner ARNA +7.00% |
| ENERGY: +0.06% | Biggest Winner TSO +4.13% |
| TECHNOLOGY: -0.01% | Biggest Loser ZNGA -10.77% |
| FINANCIAL: +0.14% | Biggest Winner JPM +1.98% |
| INDUSTRIAL GOODS: +0.43% | Biggest Winner PPO +3.86% |
| BASIC MATERIALS: +0.02% | Biggest Winner HL +2.72% |
| UTILITIES: -0.53% | Biggest Loser NKA -3.63% |
Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology. Click Here to view today's video
Well so far on the S&P I can see a left shoulder, a head and maybe a right shoulder in process. Support should hold the right shoulder around 1,295.22. Time will tell.