{"id":2073,"date":"2010-06-11T14:54:01","date_gmt":"2010-06-11T18:54:01","guid":{"rendered":"http:\/\/club.ino.com:80\/trading\/?p=2073"},"modified":"2010-06-11T14:55:42","modified_gmt":"2010-06-11T18:55:42","slug":"its-friday-are-you-in-or-out","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2010\/06\/its-friday-are-you-in-or-out\/","title":{"rendered":"It's Friday... Are you in or out?"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright\" style=\"float: right;\" src=\"\/img\/sites\/ino\/email\/2827.jpg\" alt=\"\" width=\"177\" height=\"234\" \/>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? There are some strategies hinged on this  notion, one of which we discussed in a <a href=\"http:\/\/broadcast.ino.com\/education\/52weekhighfriday_dest\/\" target=\"_blank\">very popular earlier video  which you can click here to watch<\/a>.<\/p>\n<p>During the week you continually have rumors, reports, and market action  as well as a host of other things that affect the market. 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.<\/p>\n<p>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&amp;P 500, Dow, NASDAQ, gold  and crude oil.<\/p>\n<p>Last week the closing numbers on Friday, June 4th were as follows:<!--more--><\/p>\n<p>S&amp;P 500 -- 1064.88 (-100)<br \/>\nDOW -- 9931.97 (-100)<br \/>\nNASDAQ -- 2216.30 (-70)<br \/>\nGold -- 1219.40 (+85)<br \/>\nCrude oil -- 75.45<\/p>\n<p>If a major trend is in place, but the market on Friday is moving in the  opposite direction, there could potentially be a reversal in the works  for the coming week.<\/p>\n<p>If one looks at our \"Trade Triangle\" scorecard, you will see that for  the equity markets we are still showing a -85 for the S&amp;P 500 as well as  the Dow. The NASDAQ on the other hand is registering a -75.<\/p>\n<p>As of right now the only negative index compared to last week is the  NASDAQ. Crude oil is also down for the week and gold appears to be  higher than last Friday's close in the spot market.<\/p>\n<p>Gold, which at the time of this writing, is the same for the week at  +85. Crude oil is lower for the week at +60. A +60 reading indicates  that the market is in a trading range, lacking any strong direction.<\/p>\n<p>I hope this helps you understand how the markets work and how important  it is to watch how the markets close on Friday.<\/p>\n<p>Have great weekend.<\/p>\n<p>All the best,<br \/>\n<a href=\"http:\/\/club.ino.com\/trading\/about-adam-hewison\/\" target=\"_blank\">Adam Hewison<\/a><br \/>\nPresident, INO.com<br \/>\nCo-creator, MarketClub<\/p>\n<p><em>*This post reflects market conditions as of noon EDT on Friday, June 11th, 2010<\/em><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>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? There are some strategies hinged on this notion, one of which we discussed in a very popular earlier video which you can click here to [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[3327,3329,28,310,3330,23,619,3331,3328],"class_list":["post-2073","post","type-post","status-publish","format-standard","hentry","category-general","tag-52-week-high-on-friday-rule","tag-comparing-friday-closes","tag-crude-oil","tag-dow","tag-friday-close","tag-gold","tag-nasdaq","tag-predicting-a-reversal","tag-should-you-exit-on-friday"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v23.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>It&#039;s Friday... 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