{"id":22703,"date":"2013-10-10T12:32:17","date_gmt":"2013-10-10T16:32:17","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=22703"},"modified":"2013-10-10T12:32:17","modified_gmt":"2013-10-10T16:32:17","slug":"is-the-market-correction-over","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2013\/10\/is-the-market-correction-over\/","title":{"rendered":"Is The Market Correction Over?"},"content":{"rendered":"

\"\"<\/a>Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update<\/strong><\/a> for Thursday, the 10th of October.<\/p>\n

Yes, I believe that the current correction has come to an end with yesterday's market action. Markets are heavily oversold at this point and I expect to see a relief rally starting today.<\/p>\n

Several of our MarketClub members stated that they expect to see some sort of agreement out of Washington in the next few days. I happen to agree with their thoughts and if that happens, it could instantly repair the downside pressure on the markets.<\/p>\n

Apple (NASDAQ:AAPL)<\/a> is looking more and more interesting, particularly if it closes today over the $491.10 level. Should this happen, it will have created a mini base in which to propel Apple to my \"line-in-the-sand\" level at $497. Apple could go into overdrive if this level is broken on the upside any time this week.<\/p>\n

Apple will be unveiling a new iPad on the 22nd of this month and may have a few surprises in store for the market. Apple will also introduce the final version of its new Maverick operating system.<\/p>\n

The recent downside pressure in the markets has pulled the stock of Amazon (NASDAQ:AMZN)<\/a> back 61.8% from its recent high, which represents a perfect Fibonacci retracement. The retracement also dovetails very well with our last Trade Triangle buy signal at $298.88. With our Trade Triangles remaining positive on this stock, I believe we could be at a low-risk buying point in this market.<\/p>\n

Like Amazon, Facebook (NASDAQ:FB)<\/a> has also seen a 61.8% Fibonacci retracement from its recent highs. With all of our Trade Triangles positive, I continue to like this stock from the long side.<\/p>\n

I also like the stock of Talisman Energy (NYSE:TLM)<\/a>. With all of our Trade Triangles green, combined with the fact that this market has pulled back from its recent high, I think it's a good time to be a buyer of this stock if you are not already long based on our Trade Triangle technology. Going into this winter, I believe that energy is going to be a valued commodity. With any position you take in the market, please use money management stops to protect your capital.<\/p>\n

Have a great trading day,
\nAdam Hewison<\/a>
\nPresident, INO.com
\nCo-Creator, MarketClub<\/p>\n

\"Bloomberg\"<\/a> \"BNN\"<\/a> \"CNBC\"<\/a> \"FOX\"<\/a><\/p>\n

Adam appears frequently on the following financial news channels as a guest expert. Click on any cable logo to watch Adam's latest appearance.<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Thursday, the 10th of October. Yes, I believe that the current correction has come to an end with yesterday's market action. Markets are heavily oversold at this point and I expect to see a relief rally […]<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[4071,188,5690,5538,28,3839,310,3831,1069,5591,147,23,1768,307,2074,5724,566,7947,4053],"class_list":["post-22703","post","type-post","status-publish","format-standard","hentry","category-trading-videos","tag-8-95-trial","tag-adam-hewison","tag-amazonnasdaqamzn","tag-apple-nasdaqaapl","tag-crude-oil","tag-donchian-channel","tag-dow","tag-dx","tag-euro","tag-facebook-nasdaqfb","tag-fibonacci-resistance","tag-gold","tag-marketclub-tips-talk","tag-precious-metals","tag-sp500","tag-talisman-energy-inc-nysetlm","tag-trade-triangles","tag-trading-videos","tag-williamr"],"yoast_head":"\nIs The Market Correction Over? - INO.com Trader's Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wwwtest.ino.com\/blog\/2013\/10\/is-the-market-correction-over\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is The Market Correction Over? - INO.com Trader's Blog\" \/>\n<meta property=\"og:description\" content=\"Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Thursday, the 10th of October. Yes, I believe that the current correction has come to an end with yesterday's market action. 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