Daily Update: U.S. housing data sparks a subdued rally

Hello traders everywhere! Jeremy Lutz here with your mid-day market update for Tuesday, the 22nd 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.

Stocks on the move: WNR ( Western Refining ) and ALXN ( Alexion Pharmaceuticals )

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: +1.67%	Top Stock TSLA +5.37%
SERVICES: +1.85%	Top Stock HTZ +2.97%
HEALTHCARE: +1.52%	Top Stock ALXN +4.98%
ENERGY: +1.68%	Top Stock HP +3.04%
TECHNOLOGY: +1.52%	Top Stock LNKD +7.88%
FINANCIAL: +1.91%	Top Stock JPM +4.55%
INDUSTRIAL GOODS: +1.98%	Top Stock NDSN +7.06%
BASIC MATERIALS: +1.37%	Top Stock TNH +6.03%
UTILITIES: +1.23%	Top Stock NKA +6.66%

 

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 = Bearish
Weekly Intermediate Term Trend = Bearish
Daily Short-Term Trend = Bullish

With a Score of -85, this index is in a strong downtrend. With our long-term monthly Trade Triangle switching to red, we are now short this market for both long-term and intermediate-term traders. Short-term traders have moved to a sidelines position on today's green daily Trade Triangle.
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See suggested S&P 500 trading instruments HERE.
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SILVER (SPOT)
Monthly Long-Term Trend = Bearish
Weekly Intermediate Term Trend = Bearish
Daily Short-Term Trend = Bullish

With a Score of -75, silver is in an emerging trend to the downside. Long-term and intermediate-term traders are still in short positions in silver with appropriate money management stops. Short-term traders are in a sidelines position.
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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 -85, the gold market is in a strong downtrend. Long-term and intermediate-term traders are still in short positions in gold with appropriate money management stops. Short-term traders are in a sidelines position.
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See suggested GOLD trading instruments HERE.
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COPPER (July 2012)
Monthly Long-Term Trend = Bearish
Weekly Intermediate Term Trend = Bearish
Daily Short-Term Trend = Bullish

With a Score of -85, this market is in a strong downtrend. Long-term and intermediate-term traders are now is short positions with appropriate money management stops. Short-term traders are now in a sidelines position.
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See suggested COPPER trading instruments HERE.
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CRUDE OIL (July 2012)
Monthly Long-Term Trend = Bearish
Weekly Intermediate Term Trend = Bearish
Daily Short-Term Trend = Bullish

With a Score of -75, this market is in an emerging trend to the downside. Long-term and intermediate-term traders are now is short positions with appropriate money management stops. Short-term traders are now in a sidelines position on today's green daily Trade Triangle.
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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 = Bearish
Daily Short-Term Trend = Bullish

With a Score of -85, the Euro is in a strong downtrend. Long-term and intermediate-term traders using our Trade Triangle Technology should maintain short Euro positions with the appropriate stops in place. Short-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 = Bearish
Daily Short-Term Trend = Bearish

With a Score of -100, this market is in a strong downtrend. Long-term and intermediate-term traders are still in short positions in this market with appropriate money management stops. Short-term traders are now in a short positions on today's red daily Trade Triangle.
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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