Tag: trade triangles

It’s Friday* and a day when many traders are considering how to deal with their positions over the weekend. How comfortable or uncomfortable are you going home with a position this weekend?

I consider the close on Friday to be the most important close of the week. It provides invaluable insight into what is going on in the markets as well as an easy way to analyze the market.

This is what I do, I write down the previous Friday’s close in the markets that I am interested in. For illustration purposes today I’m just going to include five markets. They are: S&P 500, Dow, NASDAQ, gold and crude oil.
Continue reading "It's Friday... Are you in or out?" →

The sharp upward rally in the S&P 500 surprised many people, myself included. However, the rally did not change the "Death Cross" which we pointed out as being a negative and significant market event that does not occur very often.

This market's rally also did not change our weekly and monthly "Trade Triangles" which are still red and indicating that the trend is headed lower.

In this short two minute video, I show you some other aspects of the S&P 500 that I think you should be watching.

As always our videos are free to watch and there are no registration requirements.

I would love to hear your comments on our blog about this or any of our other market videos.

All the best,
Adam Hewison
President of INO.com
Co-founder of MarketClub

The sharp rally in the equity markets this past week pushes the S&P 500 back into a zone that should present problems. I've included below, three important factors you should be considering in this market:

Strike one is that we've already reached a 50% Fibonacci retracement from the high seen at 1116.59 and the low of 1022.40. This area indicates increasing resistance on the upside for the S&P 500

The second strike against the S&P 500 is the downward trend line from the mid-April high that intersects the market around the 1080 level. This technical force should also act as a resistance level.

The third strike is our monthly "Trade Triangle" which remains in a negative position. The monthly "Trade Triangle" is also confirmed by the weekly "Trade Triangle" which remains in a negative position. The -75 score indicates that the downtrend, while not as strong as before, remains intact.

Based on these three strikes, we expect the market to move first into a trading range and then to resume its downward path.

All the best,
Adam Hewison
President of INO.com
Co-founder of MarketClub