Hello traders everywhere! Jeremy Lutz here with your mid-day market update for Tuesday, the 1st of May.
While Adam is away we will be providing the daily update in written form each day with videos on Monday, Wednesday and Friday each week.
DailyXchange
Post and prosper with other MarketClub members everyday.
3 Stocks on the move today:
SHLD (Sears Holdings), ADM (Archer-Daniels Midland), and USO (United States Oil).
DON'T FIGHT THE MARKET … MOVE WITH THE MARKET!
TODAY'S MARKET MOVING SECTORS:
Percentage changes in stocks are relative to the S&P 500
CONSUMER GOODS: +0.67% Top Stock ADM +6.03%
SERVICES: +1.13% Top Stock SHLD +12.86%
HEALTHCARE: +0.79% Top Stock CYH +3.86%
ENERGY: +0.91% Top Stock CHK +7.81%
TECHNOLOGY: +0.93% Top Stock AKAM +3.56%
FINANCIAL: +1.16% Top Stock CBG +1.79%
INDUSTRIAL GOODS: +1.08% Top Stock AGCO +7.25%
BASIC MATERIALS: +1.08% Top Stock HUN +7.98%
UTILITIES: +0.57% Top Stock GRH +6.31%
Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology.
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S&P 500 INDEX
Monthly Long-Term Trend = Bullish
Weekly Intermediate Term Trend = Bullish
Daily Short-Term Trend = Bullish
With a Score of +100, this index is in a strong uptrend. Longer-term we expect this market to move up to the $1,550 to $1,600 level by late May. With our long-term monthly Trade Triangle green, we remain longer term positive on this market. Intermediate-term and short-term traders are now in long positions as well on a new weekly green Trade Triangle today.
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See suggested S&P 500 trading instruments HERE.
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SILVER (SPOT)
Monthly Long-Term Trend = Bullish
Weekly Intermediate Term Trend = Bearish
Daily Short-Term Trend = Bearish
With a Score of -60, silver is in a trading range. Long-term traders should be holding long positions in silver with appropriate money management stops. Intermediate-term and short-term traders are in a short position with appropriate money management stops .
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See suggested SILVER trading instruments HERE.
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GOLD (SPOT)
Monthly Long-Term Trend = Bearish
Weekly Intermediate Term Trend = Bearish
Daily Short-Term Trend = Bullish
With a Score of -65, the gold market has moved into a trading range. Long-term and intermediate-term traders should still be in short positions in gold with appropriate money management stops. Short-term traders are now on the sidelines.
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See suggested GOLD trading instruments HERE.
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COPPER (July 2012)
Monthly Long-Term Trend = Bullish
Weekly Intermediate Term Trend = Bullish
Daily Short-Term Trend = Bullish
With a Score of +100, this market is in a strong trend to the upside. We continue to view the longer-term trend in copper as positive. Long-term traders should be holding long positions in this metal with appropriate money management stops. Intermediate and short-term traders are also in a long position.
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See suggested COPPER trading instruments HERE.
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CRUDE OIL (June 2012)
Monthly Long-Term Trend = Bullish
Weekly Intermediate Term Trend = Bullish
Daily Short-Term Trend = Bullish
With a Score of +100, this market is in a strong trend to the upside. Longer-term we remain positive, given the fact that our monthly Trade Triangle is still green. We are looking for crude oil to make its highs probably somewhere in the late April-May period. Long-term traders should remain long this market with appropriate money management stops. Intermediate and short-term traders are now in long positions on a new weekly green Trade Triangle today.
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See suggested CRUDE OIL trading instruments HERE.
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EURO vs USD (SPOT)
Monthly Long-Term Trend = Bearish
Weekly Intermediate Term Trend = Bullish
Daily Short-Term Trend = Bullish
With a Score of +60, the Euro is in a trading range. Long-term traders using our Trade Triangle Technology should maintain short Euro positions with the appropriate stops in place. Short-term and intermediate-term traders are in a long position.
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See suggested EURUSD trading instruments HERE.
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REUTERS/JEFFERIES CRB COMMODITY INDEX
Monthly Long-Term Trend = Bearish
Weekly Intermediate Term Trend = Bullish
Daily Short-Term Trend = Bullish
With a Score of +70, this market is in an emerging trend. Long-term traders should hold short positions in this index with appropriate money management stops.
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See suggested REUTERS/JEFFERIES CRB COMMODITY INDEX trading instruments HERE.
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This is Jeremy Lutz for MarketClub, wishing you every success in trading. Be sure to post on the "DailyXchange" on your new Members Blog.
Jeremy Lutz
MarketClub.com
