Today's Video Update: Is The Market Running Out Of Gas?

Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Friday, the 10th of May.

Running Out Of Gas Or Is Complacency Setting In?
The market has two enemies, gravity and complacency. It would appear as though complacency in this market is becoming more and more of the norm, which is a definite danger and warning sign. The type of complacent attitude we are seeing tends to give birth to the market's second enemy, gravity. Earlier this week, we produced a short video explaining how a simple technical formation known as a "parallel channel" may be indicating that we are close to an interim top for this market.

Is Gold Headed For $1,200?
I am not sure who coined the phrase, "the trend is your friend," but it has certainly proven to be true in the gold market. After recovering from a dramatic fall, the gold market has once again resumed its downward path. With all of our Trade Triangles red, I see nothing but further downside pressure for this market. Technically, we could see a retest of the $1,300 level.

Watch Today's Video Update Here

A Pullback In Crude Today - Time To Buy?
The June crude oil contract pulled back from the highs seen six days ago around $97.00 and now appears set to fall back into a 50% Fibonacci retracement of $93.61, from the recent low seen just nine days ago at $90 a barrel. At the moment, our technical signals are mixed, but I do expect to see this market find support between $93.00 and $93.50 basis the June contract.

The Aussie Dollar Joins The Race To The Bottom
Yesterday we produced an educational trading video on the Aussie dollar, showing where I expect this currency to go in the coming months. I also explain why it could be one of the best trades of 2013.

Watch Today's Video Update Here

On Investor's Minds:
UNITED STATES - Nothing but complacency
MIDDLE EAST - Potential for a major Mideast conflict
EUROPE - All quiet for the moment
THE FED - Reality distortion
OTHER - May 19th, debt ceiling suspension expires

Have a great trading day,
Adam Hewison
President, INO.com
Co-Creator, MarketClub

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Adam appears frequently on the following financial news channels as a guest expert. Click on any cable logo to watch Adam's latest appearance.

2 thoughts on “Today's Video Update: Is The Market Running Out Of Gas?

  1. Great technical analyses and great to see you address the live data.
    thanks Adam,

    GaZZA

  2. Hi Adam,
    I watched your video on the Australian dollar yesterday, and I think you are absolutely correct. How are you going to play it? I searched quite a bit and only found CROC. a 2X bear. There was another ETN on the London exchange too, but I think my broker Scottrade doesn't provide LSE trading ability. Oh, by the way, I belong to Market Club. Many thanks for all your great trading ideas.
    Best wishes. Brian

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