{"id":8339,"date":"2011-07-19T14:06:51","date_gmt":"2011-07-19T18:06:51","guid":{"rendered":"http:\/\/club.ino.com\/trading\/?p=8339"},"modified":"2011-07-19T14:06:51","modified_gmt":"2011-07-19T18:06:51","slug":"the-bulls-battled-back-today","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2011\/07\/the-bulls-battled-back-today\/","title":{"rendered":"The Bulls Battled Back Today!"},"content":{"rendered":"<p><a href=\"http:\/\/tv.ino.com\/free\/video.html?vidid=livestream-pla_7d1c25e3-c55b-4763-a9f6-d99e0ae89196&amp;mkt\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft\" src=\"\/img\/sites\/ino\/email\/3901.jpg\" alt=\"\" width=\"228\" height=\"152\" \/><\/a>Hello traders everywhere! Adam Hewison here, co-founder of MarketClub  with your 1 p.m. market update for Tuesday, the 19th of July.<\/p>\n<p>The Bulls battled back today and forced many of the Bears to cover their  short positions in the equity markets. However, nothing has changed,  nothing has been resolved, and we still have the same unresolved debt  problems.<\/p>\n<p>Gold and silver continue to hold well and look to be purchased on  pullbacks from current levels. Crude oil popped to the upside today and  remains in a broad trading range with no clear-cut direction.<\/p>\n<p>All in all it's been a pretty boring session so far on a Tuesday. What I  really want to see is how these markets close today, and more  importantly, how they close for the week. If we have a lower close for  the week in the equity markets we would consider that to be an early  sign of a potential bear market.<\/p>\n<p>Now,<a href=\"http:\/\/tv.ino.com\/free\/video.html?vidid=livestream-pla_7d1c25e3-c55b-4763-a9f6-d99e0ae89196&amp;mkt\" target=\"_blank\"> let's go to the markets and see how we can protect and make your  money grow in 2011<\/a>.<\/p>\n<p><!--more-->-------------<br \/>\nS&amp;P 500<br \/>\nMonthly Trade Triangles for Long-Term Trends = Positive<br \/>\nWeekly Trade Triangles for Intermediate Term Trends = Positive<br \/>\nDaily Trade Triangles for Short-Term Trends = Negative<br \/>\nCombined Strength of Trend Score = + 85<\/p>\n<p>The 1300 level on the S&amp;P index was enough support to give this market a  little bounce today. Look for resistance to come in starting at 1320 and  extending up to 1326. The 200 day moving average, which is perhaps the  most important average to follow on this index, comes in at 1278 today.  It will be important to see how this market closes for the week.<br \/>\n-------------<br \/>\nSILVER<br \/>\nMonthly Trade Triangles for Long-Term Trends = Positive<br \/>\nWeekly Trade Triangles for Intermediate Term Trends = Positive<br \/>\nDaily Trade Triangles for Short-Term Trends = Positive<br \/>\nCombined Strength of Trend Score = + 90<\/p>\n<p>Traders should be long this market as all of our Trade Triangles are in  a positive mode indicating higher prices ahead. As we have been  indicating, we are expecting this market to reach highs towards the  latter part of Q3 and early Q4. Look for support for this market at  38.00. The upside target for silver based on the Fibonacci count of  61.8% is $42.98.<br \/>\n-------------<br \/>\nGOLD<br \/>\nMonthly Trade Triangles for Long-Term Trends = Positive<br \/>\nWeekly Trade Triangles for Intermediate Term Trends = Positive<br \/>\nDaily Trade Triangles for Short-Term Trends = Positive<br \/>\nCombined Strength of Trend Score = + 90<\/p>\n<p>Gold continues to hover over the 1600 level and there appears to be  little enthusiasm as of this writing to be aggressively selling this  market short. All of our Trade Triangles are positive and we are looking  for this market to move higher. Traders who took advantage of the 52  week rule on Friday should have taken profits on this position today.  This would have produced a gain of nine dollars an ounce. We are looking  for gold to move higher until the end of Q3 and possibly into Q4.  Intermediate targets for gold are $1,640 and $1,650.<br \/>\n-------------<br \/>\nCRUDE OIL<br \/>\nMonthly Trade Triangles for Long-Term Trends = Negative<br \/>\nWeekly Trade Triangles for Intermediate Term Trends = Negative<br \/>\nDaily Trade Triangles for Short-Term Trends = Positive<br \/>\nCombined Strength of Trend Score = - 55<\/p>\n<p>The crude oil market continues to move in a sideways pattern and this is  reflected in our -55 Chart Analysis Score which indicates a trading  range is at hand. Resistance comes in as we have stated previously over  $99.00 and must be taken out if this market is to move higher. Support  is now moved to the center of the Donchian trading channel which comes  in around $94.50 today. We see nothing to do in this market until it  breaks out of the current stalemate that it is in.<br \/>\n-------------<br \/>\nDOLLAR INDEX<br \/>\nMonthly Trade Triangles for Long-Term Trends = Positive<br \/>\nWeekly Trade Triangles for Intermediate Term Trends = Positive<br \/>\nDaily Trade Triangles for Short-Term Trends = Negative<br \/>\nCombined Strength of Trend Score = + 55<\/p>\n<p>For the past two months, the Dollar Index has been trapped in a broad  trading range. The Dollar Index remains below its 200 day moving  average. The longer term trend for the Dollar Index is positive based on  our Trade Triangle technology. Resistance remains between 75.50 and  76.50. Support comes in today at 74.00.<br \/>\n-------------<br \/>\nREUTERS\/JEFFERIES CRB COMMODITY INDEX<br \/>\nMonthly Trade Triangles for Long-Term Trends = Negative<br \/>\nWeekly Trade Triangles for Intermediate Term Trends = Positive<br \/>\nDaily Trade Triangles for Short-Term Trends = Negative<br \/>\nCombined Strength of Trend Score = + 55<\/p>\n<p>The upward pop in crude oil today was enough to push the CRB Index to  the upside. The +55 score indicates that this market remains in a  trading range in the near term. At the present time, our Trade Triangle  technology is mixed. Resistance is now at 350 and support looks to be at  340.<\/p>\n<p>---------------<br \/>\nIf you haven't watched our earlier 1 PM updates, check them out on this  blog.<\/p>\n<p>Don't forget to tune in every Wednesday at 5 PM Eastern time for the  <a href=\"http:\/\/club.ino.com\/trading\/marketclub-tv\/?MCTV0720\" target=\"_blank\">MarketClub TV show<\/a>. You will not believe some of the phone calls we have  had so far, simply amazing.<\/p>\n<p>Now it's your turn. We want you to be part of the MarketClub TV show  this Wednesday and there is an easy way for you to do that. Simply call  <strong><span style=\"color: #ff0000;\">410-867-2100<\/span><\/strong> extension <strong><span style=\"color: #ff0000;\">129<\/span><\/strong> 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. When you call you will be automatically  entered to win a one-year membership to MarketClub. So don\u2019t miss out!  Be a part of the show that everyone is talking about, plus get a chance  to win a free membership.<\/p>\n<p>As always, we rely on our market proven Trade Triangle technology for  catching the big moves.<\/p>\n<p>Every success,<br \/>\nAdam Hewison<br \/>\nPresident of INO.com<br \/>\nCo-founder of MarketClub<\/p>\n<p>&nbsp;<\/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>Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Tuesday, the 19th of July. The Bulls battled back today and forced many of the Bears to cover their short positions in the equity markets. However, nothing has changed, nothing has been resolved, and we still have the same [&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":[4,10],"tags":[3917,28,1067,3839,3831,147,23,3265,307,294,2074],"class_list":["post-8339","post","type-post","status-publish","format-standard","hentry","category-trading-tips","category-trading-videos","tag-crb","tag-crude-oil","tag-dollar","tag-donchian-channel","tag-dx","tag-fibonacci-resistance","tag-gold","tag-greece-debt","tag-precious-metals","tag-silver","tag-sp500"],"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>The Bulls Battled Back Today! - INO.com Trader&#039;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:\/\/www.ino.com\/blog\/2011\/07\/the-bulls-battled-back-today\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Bulls Battled Back Today! - INO.com Trader&#039;s Blog\" \/>\n<meta property=\"og:description\" content=\"Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Tuesday, the 19th of July. The Bulls battled back today and forced many of the Bears to cover their short positions in the equity markets. However, nothing has changed, nothing has been resolved, and we still have the same [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ino.com\/blog\/2011\/07\/the-bulls-battled-back-today\/\" \/>\n<meta property=\"og:site_name\" content=\"INO.com Trader&#039;s Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/inocom\/\" \/>\n<meta property=\"article:published_time\" content=\"2011-07-19T18:06:51+00:00\" \/>\n<meta name=\"author\" content=\"The INO.com Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The INO.com Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ino.com\/blog\/2011\/07\/the-bulls-battled-back-today\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2011\/07\/the-bulls-battled-back-today\/\"},\"author\":{\"name\":\"The INO.com Team\",\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/person\/d86a8cce826b7bd105200d88bb28a280\"},\"headline\":\"The Bulls Battled Back Today!\",\"datePublished\":\"2011-07-19T18:06:51+00:00\",\"dateModified\":\"2011-07-19T18:06:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2011\/07\/the-bulls-battled-back-today\/\"},\"wordCount\":943,\"commentCount\":9,\"publisher\":{\"@id\":\"https:\/\/www.ino.com\/blog\/#organization\"},\"keywords\":[\"CRB\",\"Crude Oil\",\"dollar\",\"Donchian Channel\",\"DX\",\"fibonacci resistance\",\"Gold\",\"greece debt\",\"precious metals\",\"silver\",\"SP500\"],\"articleSection\":[\"MarketClub Techniques, Tips &amp; Talk\",\"Trading Videos\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ino.com\/blog\/2011\/07\/the-bulls-battled-back-today\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ino.com\/blog\/2011\/07\/the-bulls-battled-back-today\/\",\"url\":\"https:\/\/www.ino.com\/blog\/2011\/07\/the-bulls-battled-back-today\/\",\"name\":\"The Bulls Battled Back Today! 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