Hello MarketClub members everywhere. In today's video update, I'm going to look at some of the big trends I see in the markets and analyze the power and depth of each them.
Let's begin with the major indices - it seems like eons ago that the world was going to h*ll and a hand basket with Great Britain's vote to exit the EU or as it was popularly known a Brexit. In a little over three weeks all the major indices have recovered and are trending higher. It just proves once again that the market eventually gets it right.
DOW (INDEX:DJI): All of Trade Triangles are green with the latest trend beginning with a weekly Trade Triangle on 7/08 at 18,011.07. The DOW is up 1.98% for the week based on the market close on 7/14.
S&P 500 (CME:SP500): All Trade Triangles are green with the latest trend beginning with a weekly Trade Triangle on 7/08 at 2,113.52. The S&P 500 is up 1.59% for the week based on the market close on 7/14.
NASDAQ (NASDAQ:COMP): All Trade Triangles are green with the latest trend beginning with a monthly Trade Triangle on 7/11 at 4,980.14. The NASDAQ is up 1.62% for the week based on the market close on 7/14.
Gold (FOREX:XAUUSDO): Two out of the three Trade Triangles are green indicating and sidelines position. The latest trend began with a red daily Trade Triangle on 7/08 at $1,341.69. Gold is currently down 2.76% for the week based on the market close on 7/14.
Barrick Gold Corporation (NYSE:ABX): Two out of the three Trade Triangles are green indicating a long position. The latest trend began with a green weekly Trade Triangle on 06/08 at $19.73. ABX is down 3.90% for the week based on the market close on 7/14.
Newmont Mining Corporation (NYSE:NEM): All Trade Triangles are green indicating a long position. The latest trend began with green a weekly Trade Triangle on 06/08 at $35.75. NEM is up 1.13% for the week based on the market close on 7/14.
Crude Oil (NYMEX:CL.Q16.E): Two out of the three Trade Triangles are green indicating and sidelines position. The latest trend began with a red daily Trade Triangle on 7/12 at $45.97. Crude oil is up 0.46% for the week based on the market close on 7/14.
As I have said before, do not get married to a stock or an idea. Markets change and when they do your thinking needs to change and be flexible, MarketClub's Trade Triangles can help you do that.
Stay focused and disciplined.
Every success with MarketClub,
Adam Hewison
President, INO.com
Co-Creator, MarketClub
Hi Adam,
You had mentioned sometime back that even though the trade triangles were showing mixed to positive that you were not confident of the indices and the stock markets as its a very tired 7 year bull market which maybe coming to the end. But this video seems like you are now saying since its broken the box range that it will head much higher.
Has your opinion completely changed on the market and you see this bull markets continuing much higher? As per this video seems like 10% or more based on 200 points on 2100 S&P500.