We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be analyzing a different chart using the Trade Triangles and his experience.
Today he is going to take a look at the technical picture of the December Natural Gas Futures (NYMEX:TT.Z13.E).
I hope you are having a GREAT week !
Cotton has made a breakout of support and there is a good chance Cotton will continue lower from here.
All three MarketClub Trade Triangles are pointing to lower prices right now, so we would want to sell Cotton on pull backs with the MarketClub system. Continue reading "Chart to Watch - Cotton"→
This morning as I was looking over the news, I read with interest that Carl Icahn had taken a 6% stake in Talisman Energy Inc (NYSE:TLM). Talisman Energy is a large Canadian energy company.
On October 1st, the Trade Triangles flashed a major buy signal for Talisman Energy at $11.95. I suspect that this was partly due to the price action that was reflected by Mr. Ichan's purchase of Talisman shares.
1.All Time High. (2) 12 Month Base. (3) +(4) Double Bottom. (5) Trade Triangle Buy at $11.95.
What is also interesting is how Mr. Icahn picks stocks like Talisman Energy. I have witnessed the same actions in play in several other stocks that Mr. Icahn has purchased in the past 12 months. Stocks like Apple, Netflix, Herbalife, and most recently, Talisman, all display similar characteristics. I suspect that the technicals play a part in his overall approach to the market. The timing of Mr. Icahn's stock purchases are amazingly close to the timing of our Trade Triangle buy signals.
Today, we are looking at a chart of Talisman Energy and the stock action looks good from a technical viewpoint, as well as from our Trade Triangles. The potential for this market to go significantly higher is there, in my opinion. Of course, I will be using our Trade Triangles for money management to exit this position, should it not work out the way I expect it to.
As always, please share your thoughts with us on this or any other market.
Adam Hewison
President, INO.com
Co-Creator, MarketClub
Yesterday, I went to the Apple(NASDAQ:AAPL) store to ask them about the new iPhone 5S and to see if they had any in stock. I was told that they no longer sold the iPhone in the store and that I had to order one online. I was somewhat taken aback by this, but then it all sort of made sense to me when I thought about it.
I think the demand for the iPhone 5S, the gold edition in particular, has been off the charts and I think we're going to see a tremendous number of iPhone sales in the fourth quarter. Having checked out the Apple store, I decided to go to Best Buy to see what they had in the iPhone 5S market. It was pretty much the same story, you have to order online and you can pick it up at the store. This makes a lot of sense because Apple can then deliver what people want based on their online orders. This allows Apple to ramp up its production to meet demand.
Technical Analysis of Apple , using Trade Triangles, Fibonacci and classic technical analysis.
CHART LEGEND
1) Double Bottom
2) Pivot Point
3) Target Zone from Pivot Point
4-5) Measurement for Fibonacci Retracement
6) 50% Fibonacci Retracement
7) Line In The Sand - $497
8) Trade Triangles
The market action recently for Apple (NASDAQ:AAPL) has been choppy, which I believe is a good thing, as Apple sets itself up to move higher. I have been looking for Apple to move to the $550-$560 area or higher. That target zone is still in effect. The battle lines are drawn and I know that if the market does not rally strongly today, the new trigger point for Apple next week is going to be the $497 level. Once over that level, this market could take off and move very quickly to higher levels.
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Doubtless, you may have heard some of the problems that have been circulating in the press about the new iPad retina displays, and that they're going to be delayed coming to market. This is likely just a technical glitch that could have been caused by one supplier. I think that demand for the smaller 7in retina iPad is going to be very big both here and overseas.
Lastly, like thousands of loyal Apple fans, I still don't have an iPhone 5S Gold, but I want one. I guess I'm going to have to break down and order online and wait for it to be delivered to the local Apple store. One thing I am really enjoying a great deal is the new iOS7 operating system. Apple has done a masterful job of changing its old and aging operating system into one that really is cutting-edge. The fact that it can run on the new 64-bit A7 chip and the old 32-bit chip is a testimonial to Apple's technical expertise.
As you can see on the chart, I have drawn a line in the sand for Apple and when this line is crossed it will turn our intermediate weekly Trade Triangle green, indicating a resumption of Apple's strong and longer-term uptrend.
If you have any comments or thoughts on Apple, I would love to hear from you!
Have a great weekend everyone and let's watch Apple closely next week, it could be a good one.
All the best,
Adam Hewison
President, INO.com
Co-Creator, MarketClub
We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be analyzing a different chart using the Trade Triangles and his experience.
Today he is going to take a look at the technical picture of the December Wheat Futures (CBOT:ZW.Z13.E).
I hope you are having a GREAT week !
This week we will take a look at the futures chart of December Wheat.
When trading futures we use the weekly MarketClub Trade Triangle to tell trend and the daily MarketClub Trade Triangle to time the entries and exits of the trades. Continue reading "Chart to Watch - December Wheat"→
Amazon(NASDAQ:AMZN), the world's largest online retailer just announced that is hiring 70,000 new employees for Q4 and I see this as a big positive for this stock. I have been positive on Amazon for some time now, but I see this fourth-quarter as being a potential (knock it out of the park) quarter for this company.
I recently purchased some bicycle parts from Amazon, and as usual Amazon delivered, as promised, on time, and the parts were perfect. I'm not sure how it is with your friends and family, but it seems that all of my family and friends order from Amazon.
Millions of people purchase from Amazon(NASDAQ:AMZN) over the course of the year, and that trend isn't likely to slow down anytime soon unless there is a major Black Swan catastrophe. Why do so many of us love doing business with Amazon? My belief is because Amazon, like Apple makes it so easy to enjoy their products and services.
Okay, now let's take a look at the chart and the technical picture for Amazon(NASDAQ:AMZN). The most important technical element is that all of the Trade Triangles are in a positive mode, indicating higher prices to come.
Now let's take a look at what has happened in the recent past. There is an old Hungarian proverb, "The past is the teacher of the future". Looking back, you can see that Amazon made an important cyclic low back in the Nov/ Dec period last year. From that cyclic low of $219, the market rallied to reach a high of $284, which represents a $65 swing from low to high (see first orange arrow on the chart). Continue reading "Amazon beefs Up For Q4, Are You Buying?"→
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