A Bad Drug Report sends this stock to the cellar!

Hello fellow traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Friday the 17th of February.

The equity markets are headed higher, why? The answer is, why not.
Today we will use our Trade Triangle Technology and figure out the major equity markets.

# 1 TRADING TIP: DON'T FIGHT THE MARKET … MOVE WITH THE MARKET

A weekly closing over 103.38 in April crude oil today = $$$$
Today we will use our Trade Triangle Technology and figure out Oil's next big move.

3 Day weekend and 3 Stocks on the move today:
ZIONS BANCORP (ZION), GILEAD SCIENCE (GILD) and FREIGHTCAR AMERICA (RAIL)
Did MarketClub's Trade Triangle technology get it right on these 3 stocks?

Now,let's analyze the markets using MarketClub's Trade Triangle Technology.
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S&P 500 INDEX
BIG PICTURE:  Strong Trend  +90
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bullish | Short-Term = Bullish
MARKETCLUB SCORING: Trading Range (50 to 65) : Emerging Trend (70 to 80) : Strong Trend (85 to 100)

Barring any incredible sell off the S&P 500 index will be closing higher for the week. Today this index reached our first target zone which was $1360. However, we remain longer-term bullish on this market. Longer-term we expect this market to move up to the $1550 to $1600 level and that could happen by late May early June based on our cyclic work. With all three of our Trade Triangles green a bull market is underway.  Long and Intermediate term traders should now be holding long positions in this index with appropriate money management stops.
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Watch today’s S&P 500 Video Here.
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Suggested S&P 500 Trading Instruments:
Non Leveraged ETF’s: (Long SPY) (Short SH)
2 x Leveraged ETF’s: (Long SSO)(Short SDS)
Futures & Options are available to trade this market. Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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SILVER (SPOT)
BIG PICTURE: Emerging Trend -75
TRADE TRIANGLES: Long-Term = Bearish | Intermediate Term = Bullish | Short-Term = Bearish
MARKETCLUB SCORING: Trading Range (50 to 65) : Emerging Trend (70 to 80) : Strong Trend (85 to 100)

For the third week in a row the Silver market is scheduled to close lower for the week. The support at $33 continues to be tenuous at best and we would not be surprised to see this support level fail today. We think this market is at the top of a trading cycle but has not provided conclusive proof that the cycle has topped out a close below $33 today will in our opinion confirm a top and a possible Fibonacci retracement back to 30.00.  Our long-term monthly Trade Triangle remains negative on Silver. This particular indicator has done extremely well in the past. Long-term term traders should be in short positions in Silver with appropriate money management Intermediate term traders should be on the sidelines.
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Watch today’s Silver Video Here.
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Suggested SILVER Trading Instruments:
Non Leveraged ETF’s: (Long SLV) (Short the ETF SLV)
Leveraged ETF’s: (Long AGQ) (Short ZSL)
Futures & Options are available to trade this market. Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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GOLD (SPOT)
BIG PICTURE: Trading Range +75
TRADE TRIANGLES: Long-Term = Bearish | Intermediate Term = Bullish | Short-Term = Bearish
MARKETCLUB SCORING: Trading Range (50 to 65) : Emerging Trend (70 to 80) : Strong Trend (85 to 100)

For the week this market remains practically unchanged and we would not be surprised to see further selling pressure coming in later today. With a trading score of -75 this market is in the early stages of a Emerging Trend. The Gold markets however is getting to an oversold area that may provide further support on any future sell-offs. We would not be surprised to see Gold be moving lower and on the defensive until the middle of May. With our long-term monthly Trade Triangle still in a negative red mode we cannot get to excited about this market at the moment. That does not mean that we are super bearish on this metal it just means we need further confirmation with the tools we know are successful in trading Gold. Long-term term traders should be in short positions in Gold with appropriate money management Intermediate term traders should be on the sidelines.
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Watch today’s Gold Video Here.
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Suggested GOLD Trading Instruments:
Non Leveraged ETF’s: (Long GLD) (Short the ETF GLD)
Leveraged ETF’s:(Long UGL) (Short GLL)
Futures & Options: Are available to trade this market. Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.

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COPPER (MAY CONTRACT)
BIG PICTURE: Trading Range +55
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bearish | Short-Term = Bearish
MARKETCLUB SCORING: Trading Range (50 to 65) : Emerging Trend (70 to 80) : Strong Trend (85 to 100)

The Copper market has pulled back to a $38.2 Fibonacci retracement where we expect it will find good support. For the week the Copper market is sharply lower and we expect that this market will begin to regroup around current levels. We continue to view the longer-term trend in Copper as positive. With a score of +55 we are in a trading range with a bias to the upside and we continue to be positive on this market. Look for support at the $3.71.  The market action looks as though it has created a large base to move higher in the future. Long term traders should now be holding long positions in this index with appropriate money management stops.
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Watch today’s Copper Video Here.
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Suggested Copper Trading Instruments:
Non Leveraged ETF’s: (Long JJC)
Futures & Options are available to trade this market. Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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CRUDE OIL (APRIL CONTRACT)
BIG PICTURE: Strong Trend +100
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bullish | Short-Term = Bullish
MARKETCLUB SCORING: Trading Range (50 to 65) : Emerging Trend (70 to 80) : Strong Trend (85 to 100)

See our special report on Crude Oil just below this posting. We are looking for Crude Oil to make its highs probably somewhere in the May period. We want to pay close attention today as a close in the April contract over $103.38 should be viewed as extremely bullish. With a trading score of +100 this market is in a strong upward trend to the upside. We remain longer term positive on this market. With our monthly, weekly and daily Trade Triangles are in a positive mode and we expect we will see further gains in Crude Oil. Traders should be long this market with appropriate money management stops.
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Watch today’s Crude Oil Video Here.
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Suggested Crude Oil Trading Instruments:
Non Leveraged ETF’s: (Long USO) (Short the ETF USO)
Leveraged ETF’s: (Long UCO) (Short DTO)
Futures & Options are available to trade this market. Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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DOLLAR INDEX
BIG PICTURE: Trading Range  +60
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bearish | Short-Term = Bearish
MARKETCLUB SCORING SYSTEM: Trading Range (50 to 65) : Emerging Trend (70 to 80) : Strong Trend (85 to 100)

With a trade score rating of +60 this market is once again in a trading range. Long term traders using our monthly Trade Triangles should maintain long positions with the appropriate stops in place.

How to use "Trade Triangles" in futures and Forex.
In the futures and Forex markets we use the weekly "Trade Triangles" for trend and the daily "Trade Triangles" for timing. Let me give you an example of how that works. If a green weekly "Trade Triangle" is in place it indicates that the trend is positive for that market. Initial entry point would be on the weekly green "Trade Triangle" and then you would use a red daily "Trade Triangle" as a stop. For example if the trend was up on the weekly you would exit a position on a red daily triangle. This is not to go short but only to exit the position and wait for the trend to reestablish itself on the upside. In the event the trend that does not reestablish itself and reverses with a weekly red "Trade Triangle" you would go short on the weekly "Trade Triangle" and use the daily "Trade Triangle"for money management and reentry points.
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Watch today’s Dollar Index Video Here.
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Suggested DOLLAR INDEX Trading Instruments:
Non Leveraged ETF’s: (Long UUP) (Short UDN)
Leveraged ETF’s: (Long) (Short)
Futures & Options are available to trade this market. Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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REUTERS/JEFFERIES CRB COMMODITY INDEX
BIG PICTURE: Emerging Trend  +60
TRADE TRIANGLES: Long-Term = Bearish | Intermediate Term = Bullish | Short-Term = Bullish
MARKETCLUB SCORING: Trading Range (50 to 65) : Emerging Trend (70 to 80) : Strong Trend (85 to 100)

A close today in this index over $317.55 will represent a new high weekly close in the index. That close would represent the highest weekly close in over 13 weeks and would strongly indicate that this market is on the move to the upside. Presently, this index is trapped in a broad trading range bounded by $320 on the upside and $310 on the downside. With a trading score of +60 this market could still go either way as remains in a trading range. Our longer-term Trade Triangle remains red and negative on this market. Long-term traders should hold short positions in this index with appropriate money management stops.
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Watch today’s REUTERS/JEFFERIES CRB COMMODITY INDEX Video Here.
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Suggested REUTERS/JEFFERIES CRB COMMODITY INDEX Trading Instruments:
Non Leveraged ETF’s: (Long CRBQ) (Short the ETF CRBQ)
Leveraged ETF’s: (Long) (Short CMD)
Futures & Options are available to trade this market. Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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This is Adam Hewison for MarketClub, I'll see you tomorrow with my weekend wrap, have a profitable trading day.

Take care everyone.
Adam Hewison
President INO.com and co-founder of MarketClub.com