Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Thursday, the 30th of August.
The DOW moved to its lowest level in three weeks, creating a new red weekly Trade Triangle. MarketClub members have not been positive on this particular index, as our monthly Trade Triangle has remained staunchly in the red. Could this index be indicating something is amiss in the markets? The same time the DOW fell to a three week low, the S&P 500 moved below the psychological $1,400 support level.
Over in the commodity markets, soybeans jumped to all time highs and look to go even higher. All of this is contributing to higher costs and inflation pressures in the future. Gold continues to consolidate as we expected, but this is a market you want to be psychologically prepared to buy on any further weakness.
Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology.
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