Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Monday, the 8th of April.
The Amazing Iron Lady
As a former citizen of England, I was saddened to read news that Margaret Thatcher, one of the great leaders of the world, died today. The "Iron Lady," as she was nicknamed, really did change the world and the economy of Great Britain. The world needs more leaders like the late Maggie Thatcher, instead of the poll-driven, politically-correct-don't-offend-anyone types whose only mission is to stay in office at all costs! Margaret Thatcher was one-of-a-kind and you don't see that coming along every day in this leaderless world.
The S&P 500 and Nasdaq Are Not Acting Well
Despite the news announcement from the Bank of Japan last week, the S&P 500 and the NASDAQ did not close out the week on a positive note. In fact, both of these indices closed at their lowest Friday closings in four and five weeks, respectively.
Earnings Are Scheduled To Come In Lower
Alcoa kicks off the earnings season and talk on the street is that earnings are going to start coming in lower and weaker than expectations. If that is the case, we are likely to see downside pressure on the markets. We are relying on our technical indicators to give us a heads up when this happens.
Watch Today's Video Update Here
Japan - The Gift That Keeps On Giving
Last week, I appeared on CNBC Asia and talked about the USD/JPY cross. This is one market that has closed out the week on strong note in favor of the US dollar. We continue to remain bullish on this currency pair.
All Is Not Well With The World
For the coming days and weeks, there are several concerns:
•North Korea
•Europe and the fact that it does not have a government
•The Fed and its bullheaded idea to keep printing money to artificially inflate the economy. You can put Japan into that camp also.
Any or all of these events could torpedo the economy and the markets and send both lower in the future.
Watch Today's Video Update Here
Potential Chaos Ahead
May 19th – Debt ceiling suspension expire
Europe - slow evaporation - economic risk
North Korea - unknown risk evaluation
The FED - finally throws in the towel
Have a great trading day,
Adam Hewison
President, INO.com
Co-Creator, MarketClub
Adam appears frequently on the following financial news channels as a guest expert. Click on any cable logo to watch Adam's latest appearance.
