{"id":36938,"date":"2016-01-06T13:00:38","date_gmt":"2016-01-06T18:00:38","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=36938"},"modified":"2016-01-06T11:58:51","modified_gmt":"2016-01-06T16:58:51","slug":"is-apple-about-to-break-100","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2016\/01\/is-apple-about-to-break-100\/","title":{"rendered":"Is Apple About To Break $100?"},"content":{"rendered":"

Hello MarketClub members everywhere! I've just returned from a short mini break over Christmas and New Year's to see the market crashing down this morning. This should come as no surprise to anyone as I have been talking about the negative chart implications that we were seeing in the major indices last year.<\/p>\n

Indices<\/h2>\n

As far back as November 16th<\/a> I warned that a weekly Trade Triangle had given a signal to move to the sidelines in the DOW index. That same Trade Triangle signal was followed a short while later in both the S&P 500 and the NASDAQ. The rocky start to the New Year should have come as no surprise to MarketClub members.<\/p>\n

\"\"<\/a><\/p>\n

Gold<\/h2>\n

Concern over China along with a weak equity market here in the US was enough to push Gold (FOREX:XAUUSDO)<\/a> to its best levels in some time and in doing so gave an important Trade Triangle buy signal. The Trade Triangle buy signal occurred on Tuesday, January 5th at $1,081.55. This is the first buy signal in gold in approximately three months and I believe it is one you should pay close attention to. My upside target for gold is the $1,130 to $1,140 area.<\/p>\n

Crude Oil<\/h2>\n

Just as gold was making new highs, Crude Oil (NYMEX:CL.G16.E)<\/a> was making 11-year lows, breaking below the $35 a barrel level this morning. With all the continued unrest in the Middle East and the friction between Saudi Arabia and Iran, it is just a matter of time before this whole area spins into economic chaos which could eventually be the driving force to lift the price of crude. However, that is a ways off at the moment and I still have a downside target of $28-$30 for a barrel of crude oil.<\/p>\n

Apple<\/h2>\n

As I write this commentary before the market has opened, Apple Inc. (NASDAQ:AAPL)<\/a> is flirting with breaking below the $100 a share level. Way back on the 16th of November the Trade Triangle technology gave a signal to be on the sidelines, the price then was $112.27, over 10% ago. <\/p>\n

I stated then that I thought the smartphone market was saturated - now Apple has cut back 30% on its iPhone 6 and 6s factory orders. While the smartphone market may be saturated, the Apple watch market may be growing to the detriment of FitBit Inc. (NYSE:FIT)<\/a> which was down 18% yesterday. Once again the Trade Triangle technology indicated that FitBit was in a downward trend before yesterday's 18% drop.<\/p>\n

In today's video, I will be examining all the major indices, several stocks and of course the gold market that looks to be heating up right now.<\/p>\n

It is good to be back from the holidays and we have a really exciting quarter ahead of us, full of opportunities.<\/p>\n

Stay focused and disciplined.<\/p>\n

Every success with MarketClub,
\nAdam Hewison<\/a>
\nPresident, INO.com
\nCo-Creator, MarketClub<\/p>\n","protected":false},"excerpt":{"rendered":"

Hello MarketClub members everywhere! I've just returned from a short mini break over Christmas and New Year's to see the market crashing down this morning. This should come as no surprise to anyone as I have been talking about the negative chart implications that we were seeing in the major indices last year. 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