Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Wednesday, the 18th of July.
Depending on who you speak to, the stock market is either going to fall off a fiscal cliff or the stock market is going to make new highs.
The truth lies somewhere in between. Right now, the markets are in very broad trading range without any clear-cut trend. The intermediate-term trend is positive, however that trend is tempered by the longer term trend that we follow. The long-term trend indicates that the stock market remains in a bear market and that the current rally is just a counter-trend rally in a bear market.
So who is right? Well, the one thing I can guarantee is that the market is always right eventually.
As for MarketClub, we will let the markets and our Trade Triangles do the talking. We will leave all the philosophical discussions and economics to other folks because we rely on the market itself to show us the way.
TODAY'S MARKET MOVING SECTORS and STOCKS:
Percentage changes in stocks are relative to the S&P 500
| CONSUMER GOODS: +0.14% | Biggest Winner COH +2.72% |
| SERVICES: +0.06% | Biggest Winner GWW +8.93% |
| HEALTHCARE: +0.10% | Biggest Winner VVUS +16.05% |
| ENERGY: +0.27% | Biggest Winner MPC +2.48% |
| TECHNOLOGY: +1.87% | Biggest Winner VMW +11.04% |
| FINANCIAL: -0.99% | Biggest Loser BAC -3.03% |
| INDUSTRIAL GOODS: +1.10% | Biggest Winner HON +5.88% |
| BASIC MATERIALS: +0.13% | Biggest Winner ACI +4.94% |
| UTILITIES: -0.47% | Biggest Loser CPN -1.15% |
Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology. Click Here to view today's video
I don't know yet but I am troubled to hear so many of the so-called financial experts talking doom and collapse. This is a area of our lives that can easily be influenced by emotional factors. Such talks of doom can be self-fulfilling prophecy. We need to fight this talk of total collapse and strive to overcome it.