Tag: SP500

Hello fellow traders everywhere. Adam Hewison here co-founder of MarketClub with your weekend update for the trading week ending on 9/02/11.

Last week we saw the markets revert back to their major trends, with the reversal in the S&P 500 pushing this market down .4% from major resistance at 1230.

Gold and silver on the other hand moved higher with gold moving up over 3% for the week, and silver following suit with a gain of 4.5%. The closes this week on Friday, for both gold and silver, are all time high, week ending closes, and are very bullish.

Last week, we referred to the fact that Warren Buffett invested $5 billion into Bank of America, symbol BA. This week we saw the true colors of the banks and the fact that they are in deep trouble. For the week, Bank of America lost 6.3% and still has more to go according to our Trade Triangle Technology.

In today's weekend wrap, we are going to do something very special, and that is apply a long-term projection for the S&P 500. We will show you where we think it is headed, how long it's going to take, and where the ultimate target zone is.

Now please remember, these are projections and are based on classical technical analysis. Obviously if our Trade Triangle technology indicates otherwise we will respect that indicator as it is reflective of market conditions. We all know events can and do change and we are cognizant of that fact. I will be doing this analysis at the end of the video so please be patient.

Now  let's go to the weekly charts and see what happened last week in the major markets according to our Trade Triangle technology. Continue reading "Weekend Update ... not a great week for the equity bulls" →

Hello traders everywhere!  Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Monday, the 29th of August.

It is hard to believe, but I am actually sitting in a Starbucks coffee shop writing this report. Irene certainly did her damage on the East Coast, and we like millions of other folks are without power today.  It would appear that we were lucky with the hurricane, as many other folks were affected much more than us.

We are running on generator power at our headquarters in Maryland, however many of our staff on working from home today because of Irene.
Watch this weekends video here.
So let's look at the markets, and see what's going on.  The equity markets are now approaching the highs that they put in about a week ago and are quickly reaching an overbought condition. Continue reading "Here's your daily update direct from Starbucks, thanks to Irene" →

Hello fellow traders everywhere. Adam Hewison here co-founder of MarketClub with your weekend update for the trading week ending on 8/26/11.

The major spin last week was the fact that Warren Buffett lent Bank of America $5 billion. But Warren is no fool,  who wouldn't want to get 11% on their investment guaranteed. Well, that's pretty much what Warren got with Bank of America.

So what does that tell us, (1) that Warren is a very shrewd and hard nosed investor, and (2) Bank of America is in serious trouble, and is willing to pay that kind of interest for new funds. Just think about it, you only get 2% on a 10 year treasury.

It remains to be seen whether or not Bank of America is a good stock.  Right now our Trade Triangle technology still indicates that the trend is down and has been for quite some time. If you are a member of MarketClub you can clearly see this on the charts where our Trade Triangles indicate exits or short sales. Sorry Warren, as we do not yet have 5 billion dollars to invest, we are sticking with our tried and true Trade Triangle approach to the markets

So let's look at the markets and see what happened last week: Continue reading "Weekend Update for 8/26 - Don't Worry Warren Buffett will lend you money at 11%" →