Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Monday, the 20th of August.
The US equity markets have closed higher six weeks in a row. While this is not an impossible feat, it is rather unusual to see a market move higher six weeks in a row without seeing some sort of correction. We think one of the reasons the markets have moved higher is very light volume.
We still have all the problems we had before, Europe, the elections coming up in November, China slowing down, and none of this is going away anytime soon. So is this week going to end up higher, or are we going to close lower for the week? We are skeptical the market can stitch together seven weeks of higher closing in a row given the proximity of major resistance at the April highs.
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
George1,
Hope you invest better than you spell (Bye, bye, etc)
Thanks for the correction. Spelling has never been my strong suit, but my investing has been acceptable so far (knock wood).... always looking for that big one though.
I think one "stock indicator" I haven't seen mentioned seriously, is the one I jokingly mention to my friends as the 3B indicator. Humorously put, it stands for "By By 'Bama" in which the indicator is inversely proportional to Obana's chance for re-election. I myself have been nibbling since early this year because of this indicator.
I LIKE THAT BBB stock indicator ~!! Ihope its right! I cannot take another 4 yrs of uh ummm uhhh ummm uhhh .
Rich,
Looks like BBB's heading up! Good luck to your investing everyone.
Light volume suggests that there are no sellers.
And therefor the up trend seen.
This "market" is like a line of winos outside the liquor store on Monday morning waiting for the owner, Mr. Bernanke, to open shop. Things might take an ugly turn if he doesn't show up soon.
If I knew what was going to happen I would be rich. The ten grand I put into my Scottrade account is now worth $7,600.