{"id":8137,"date":"2011-07-11T14:12:41","date_gmt":"2011-07-11T18:12:41","guid":{"rendered":"http:\/\/club.ino.com\/trading\/?p=8137"},"modified":"2011-07-11T14:12:41","modified_gmt":"2011-07-11T18:12:41","slug":"kicking-the-can-down-the-road","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2011\/07\/kicking-the-can-down-the-road\/","title":{"rendered":"Kicking The Can Down The Road"},"content":{"rendered":"

\"\"<\/a>Hello traders everywhere!\u00a0 Adam Hewison here, co-founder of MarketClub with your market update for Monday, the 11th of July.<\/p>\n

Last week, the standout story was the disastrous jobs report.\u00a0 As this week unfolds, we are faced with more problems such as the debt ceiling and the total lack of cooperation between the Democrats and the Republicans.\u00a0 It seems as though both parties are firmly entrenched in their own party lines and are failing to see just what it's doing to the country.<\/p>\n

We have talked about this before, and the fact that the politicians both in Europe and here in the United States really don't want to face the truth has created the current mess over the last 20-30 years. It is always same old story of \"kick the can down the road\" and let somebody else take care of it.<\/p>\n

Well, it's showtime or should I say it's a showdown now!\u00a0 We need to get serious about getting this right in this country.\u00a0 I believe that we got into this together and now we should get out of it together.<\/p>\n

Now let's see how we can protect and make your money grow.<\/a><\/p>\n

S&P 500: +75.\u00a0 The resistance level we discussed all last week was enough to turn this market back down.\u00a0 The symmetry of the S&P is striking and should not be ignored as we could be making a right shoulder of a much larger head and shoulders formation.\u00a0 However, it should not be ignored that the Trade Triangles remain in a positive mode.\u00a0 Look for support to come into this market around the 1300 level.<\/p>\n

Silver: +90.\u00a0 Silver reversed course and hit the top of the Donchian trading channel and also moved out of an overbought territory.\u00a0 Our Trade Triangle technology is longer-term trend positive. Intermediate term traders should now be long this market.\u00a0 We still believe that silver is building in major energy base to go higher.<\/p>\n

Gold: +65.\u00a0 Like silver, gold is at the top of its Donchian trading channel and this was enough to bring pressure on this market.\u00a0 We continue to believe that gold is building a long term energy field to go much higher later in the year.\u00a0 Long-term trends with the Trade Triangles are positive, while intermediate term trends are neutral.<\/p>\n

Crude Oil: -80.\u00a0 Profit-taking and liquidation in the crude oil market is making this market pullback into what could be a very interesting area.\u00a0 A 61.8% Fibonacci retracement brings crude oil to $93.30 for the August contract.\u00a0 We expect that this level should offer sufficient support for this market.\u00a0 Overall the Trade Triangles continue to reflect a negative trend.<\/p>\n

The Dollar Index: +70.\u00a0 This index rallied just enough to trigger our intermediate term Trade Triangles, which in turn put us in the neutral camp for this market.\u00a0 The longer term trend for the dollar index is still negative based on our Trade Triangle technology.\u00a0 Resistance remains between 76.35 and support at 74.00.<\/p>\n

Reuters\/Jefferies CRB Commodity Index: -80.\u00a0 This index is back to the midpoint of the Donchian trade channel and has just moved out of an overbought situation.\u00a0 We expect that we will see more backing and filling in this market before it starts to move higher.\u00a0 Look for support at 335 and again at 330.\u00a0 Resistance starts at 345 up to 347.<\/p>\n

Missed an update?\u00a0 Previous 1pm updates can be found by searching this blog.<\/p>\n

We want you to be part of the MarketClub TV show this Wednesday and here's an easy way to do that.\u00a0 Now you can call 410-867-2100 extension 129 and (1) leave a message, (2) tell us how you use MarketClub, (3) ask a question about the market or (4) comment on anything to do with the markets.\u00a0 When you call you will be automatically entered to win a one-year membership to MarketClub.\u00a0 So don't miss out-to be a part of the show that everyone is talking about, plus get a chance to win a free membership.<\/p>\n

As always, we rely on our market proven Trade Triangle technology for catching the big moves!<\/p>\n","protected":false},"excerpt":{"rendered":"

Hello traders everywhere!\u00a0 Adam Hewison here, co-founder of MarketClub with your market update for Monday, the 11th of July. Last week, the standout story was the disastrous jobs report.\u00a0 As this week unfolds, we are faced with more problems such as the debt ceiling and the total lack of cooperation between the Democrats and the […]<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,4,10],"tags":[3963,3973,3917,28,1067,3972,23,3971,294,1497,2074],"class_list":["post-8137","post","type-post","status-publish","format-standard","hentry","category-general","category-trading-tips","category-trading-videos","tag-52-week-high","tag-52-week-low","tag-crb","tag-crude-oil","tag-dollar","tag-employment","tag-gold","tag-jobs","tag-silver","tag-smart-scan","tag-sp500"],"yoast_head":"\nKicking The Can Down The Road - 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\/2011\/07\/kicking-the-can-down-the-road\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kicking The Can Down The Road - INO.com Trader's Blog\" \/>\n<meta property=\"og:description\" content=\"Hello traders everywhere!\u00a0 Adam Hewison here, co-founder of MarketClub with your market update for Monday, the 11th of July. 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