Hello traders everywhere! Jeremy Lutz here with your mid-day market update for Thursday, the 3rd 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:
TDC (Teradata), WFM (Whole Foods Market), and SNI (Scripps Networks).
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: -0.79% Top Stock BEAM +4.41%
SERVICES: -0.11% Top Stock WFM +6.96%
HEALTHCARE: -0.94% Top Stock CVD +4.67%
ENERGY: -0.70% Top Stock UPL +5.68%
TECHNOLOGY: -0.12% Top Stock TDC +8.78%
FINANCIAL: -0.17% Top Stock ALL +5.01%
INDUSTRIAL GOODS: -0.09% Top Stock TGI +5.42%
BASIC MATERIALS: -0.46% Top Stock OMG +7.06%
UTILITIES: -0.19% Top Stock GEN +3.21%
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 = Bearish
With a Score of +75, this index is in an emerging trend. 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. Long-term and intermediate-term traders are still in long positions and short-term traders are on the sidelines.
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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 -70, silver is in an emerging trend. 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 = Bearish
With a Score of -100, the gold market is in a strong downtrend. Long-term and intermediate-term traders should still be in short positions in gold with appropriate money management stops. Short-term traders could re-enter short positions on today's red daily Trade Triangle.
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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 = Bearish
With a Score of +75, this market is in an emerging trend to the upside. We continue to view the longer-term trend in copper as positive. Long-term and intermediate-term traders should be holding long positions in this metal with appropriate money management stops. Short-term traders are in a sidelines position on a new red daily Trade Triangle today.
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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 = Bearish
With a Score of +90, this market is in a strong trend. 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 May. Long-term and intermediate-term traders should remain long this market with appropriate money management stops. Short-term traders are now in sidelines positions on a new red daily 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 = Bearish
With a Score of -75, the Euro is in an emerging trend to the downside. 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 sidelines 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 = Bearish
With a Score of -75, this market is in an emerging trend to the downside. Long-term traders should hold short positions in this index with appropriate money management stops. Short-term and intermediate-term traders are in a sidelines position.
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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
