Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Tuesday, the 7th of August.
Despite all the problems in Europe, the US stock market seems to be going it alone, at least for the moment. Readers of this blog know that we have not been excited about the broad US equity markets, as our long-term indicator continues to remain in a negative mode. On the other hand, individual stocks are a different matter, as they can rally for technical and fundamental reasons.
Members only have to look at the Trade Triangles to see which stocks are trending higher and which stocks are headed for the basement. The S&P 500 is based on 500 individual stocks, and our Trade Triangle technology remains negative on that index. Eventually this impasse will be resolved one way or another and a strong trend, either on the upside or the downside, will ensue. Only time will resolve deadlock for this market. Till then, we remain stuck in a broad trading range.
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
The daily video is not updated, it is keeps an old recording on predicted highs and lows