{"id":8526,"date":"2011-08-02T15:00:09","date_gmt":"2011-08-02T19:00:09","guid":{"rendered":"http:\/\/club.ino.com\/trading\/?p=8526"},"modified":"2011-08-03T10:40:42","modified_gmt":"2011-08-03T14:40:42","slug":"will-the-sp-500-close-lower-for-the-7th-day-in-a-row","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2011\/08\/will-the-sp-500-close-lower-for-the-7th-day-in-a-row\/","title":{"rendered":"Will The S&#038;P 500 Close Lower For The 7th Day In A Row?"},"content":{"rendered":"<p><a href=\"http:\/\/tv.ino.com\/free\/video.html?vidid=livestream-pla_08130ac0-06d8-414a-a0ba-4bbff1545dbf&amp;mkt=blog1pm82\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft\" src=\"\/img\/sites\/ino\/email\/3911.jpg\" alt=\"\" width=\"343\" height=\"214\" \/><\/a>Hello traders everywhere! Adam Hewison here, co-founder of MarketClub  with your 1 p.m. market update for Tuesday, the 2nd of August.<\/p>\n<p>A lower close in the S&amp;P 500 today would mark the 7th day in a row that  this index has closed lower. This would be very unusual and probably set  the market up for a rally or a dead cat bounce in the next day or two.  This market is now trading well below its 200 day moving average.  However, the same cannot be said for the Dow Jones index which is just  above its 200 day moving average.<\/p>\n<p>Gold moved to new highs today, and it is in an area that we feel is an  intermediate target zone between $1,640 and $1,650. We would recommend  taking partial profits on long positions, but not getting out of all  positions.<\/p>\n<p>Crude oil and the CRB index continue to move back and forth without any  real direction at this time.<\/p>\n<p>Now,<a href=\"http:\/\/tv.ino.com\/free\/video.html?vidid=livestream-pla_08130ac0-06d8-414a-a0ba-4bbff1545dbf&amp;mkt=blog1pm82\" target=\"_blank\"> let's go to the markets and see how we can protect and grow your  money in 2011.<br \/>\n<\/a><!--more-->S&amp;P 500<br \/>\nMonthly Trade Triangles for Long-Term Trends = Positive<br \/>\nWeekly Trade Triangles for Intermediate Term Trends = Negative<br \/>\nDaily Trade Triangles for Short-Term Trends = Negative<br \/>\nCombined Strength of Trend Score = - 70<\/p>\n<p>The S&amp;P 500 index is heavily oversold and we would not rule out a dead  cat bounce from current levels. Support comes in to this index at 1265  and again at 1250. That is the last vestiges of support for this index.  Should these levels give way you will see a mass exodus out of all stocks.<br \/>\n--------<br \/>\nSILVER (SPOT)<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>While gold has soared to new highs and is now in an area that we expect  to see some profit taking, silver has not been quite as fortunate. We  are still bullish on the market, but somewhat disappointed that it has  not moved to new highs along with gold. We are expecting this market to  reach its highs towards the latter part of Q3 and early Q4. The  intermediate target for silver based on the Fibonacci count of 61.8% is  $42.98.<br \/>\n-------------<br \/>\nGOLD (SPOT)<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 = + 100<\/p>\n<p>Gold pushed to new highs on continued worldwide demand which has created  higher prices. The gold market is now in the area that we have targeted  as an intermediate target zone. The 1642 and 1650 levels should present  some resistance for this precious metal. All of our indicators remain  positive and we would not recommend totally getting out of positions at  this time. We would however recommend taking partial profits around  current levels of 1645. We continue to like this market from the long  side. 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 (SEPTEMBER)<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 = - 85<\/p>\n<p>Crude oil September contract is now trading at the lower range of the  Donchian trading channels. The market is heavily oversold and we would  not rule out a balance from current levels. The Williams % R indicator  is currently in an oversold condition and we are getting close to  touching the lower part of the Donchian trading channel. Both of these  indicators may represent some support around the $94 level.<br \/>\n-------------<br \/>\nDOLLAR INDEX<br \/>\nMonthly Trade Triangles for Long-Term Trends = Positive<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>We are hard pressed to get too excited about the current dead cat bounce  in the dollar index. It has rallied from the lower levels of being  oversold on the Williams% R indicator and the lower levels of the  Donchian trading channel. The long-term 200 day moving average remains  negative for this index. Resistance remains at 75.00 and 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 = - 75<\/p>\n<p>The Reuters\/Jefferies CRB commodity index dipped into an oversold  condition, but continues to move sideways and remains trapped in a broad  trading range. We feel that this index is close to making a low for a  potential reversal back to the upside. We would not get excited about  being long this index until we see the 352 level broken to the upside.  At the present time, our Trade Triangle technology is mixed. Resistance  is between 349 and 350. Support comes in at 338.50.<\/p>\n<p>---------------<br \/>\nDon't forget to watch our <a href=\"http:\/\/club.ino.com\/trading\/2011\/07\/marketclub-tv\/?MCTV0803\" target=\"_blank\">MarketClub TV<\/a> show this Wednesday, at 5 PM.  Many of the questions you posted on our hotline will be answered.<\/p>\n<p>More good news that you can benefit from: MarketClub has teamed up with  PMI, one of largest education forces in the world, to offer personal  coaching for MarketClub! It offers you an opportunity to learn many of  the secrets about how the markets really work and how you can make it in  current market conditions.<\/p>\n<p>To learn more about our personal coaching and to help improve your  trading give us a call at <strong><span style=\"color: #ff0000;\">877\u2013219\u20131482<\/span><\/strong>.<\/p>\n<p>This is Adam Hewison for MarketClub and I'll see you tomorrow same  place, same time, have a great day trading!<\/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 \/>\n<a href=\"..\/2011\/08\/2011\/07\/2011\/07\/2011\/07\/about-adam-hewison\/\">Adam Hewison<\/a><br \/>\nPresident of INO.com<br \/>\nCo-founder of MarketClub.com<\/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 2nd of August. A lower close in the S&amp;P 500 today would mark the 7th day in a row that this index has closed lower. This would be very unusual and probably set the market up for [&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":[3917,28,1961,1067,3839,3831,147,23,1695,307,294,2074],"class_list":["post-8526","post","type-post","status-publish","format-standard","hentry","category-trading-tips","category-trading-videos","tag-crb","tag-crude-oil","tag-debt","tag-dollar","tag-donchian-channel","tag-dx","tag-fibonacci-resistance","tag-gold","tag-government-spending","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>Will The S&amp;P 500 Close Lower For The 7th Day In A Row? - 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\/08\/will-the-sp-500-close-lower-for-the-7th-day-in-a-row\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Will The S&amp;P 500 Close Lower For The 7th Day In A Row? - 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 2nd of August. A lower close in the S&amp;P 500 today would mark the 7th day in a row that this index has closed lower. This would be very unusual and probably set the market up for [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ino.com\/blog\/2011\/08\/will-the-sp-500-close-lower-for-the-7th-day-in-a-row\/\" \/>\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=\"2011-08-02T19:00:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2011-08-03T14:40:42+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\/08\/will-the-sp-500-close-lower-for-the-7th-day-in-a-row\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2011\/08\/will-the-sp-500-close-lower-for-the-7th-day-in-a-row\/\"},\"author\":{\"name\":\"The INO.com Team\",\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/person\/d86a8cce826b7bd105200d88bb28a280\"},\"headline\":\"Will The S&#038;P 500 Close Lower For The 7th Day In A Row?\",\"datePublished\":\"2011-08-02T19:00:09+00:00\",\"dateModified\":\"2011-08-03T14:40:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2011\/08\/will-the-sp-500-close-lower-for-the-7th-day-in-a-row\/\"},\"wordCount\":968,\"commentCount\":3,\"publisher\":{\"@id\":\"https:\/\/www.ino.com\/blog\/#organization\"},\"keywords\":[\"CRB\",\"Crude Oil\",\"debt\",\"dollar\",\"Donchian Channel\",\"DX\",\"fibonacci resistance\",\"Gold\",\"government spending\",\"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\/08\/will-the-sp-500-close-lower-for-the-7th-day-in-a-row\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ino.com\/blog\/2011\/08\/will-the-sp-500-close-lower-for-the-7th-day-in-a-row\/\",\"url\":\"https:\/\/www.ino.com\/blog\/2011\/08\/will-the-sp-500-close-lower-for-the-7th-day-in-a-row\/\",\"name\":\"Will The S&P 500 Close Lower For The 7th Day In A Row? 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Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Tuesday, the 2nd of August. A lower close in the S&amp;P 500 today would mark the 7th day in a row that this index has closed lower. This would be very unusual and probably set the market up for [&hellip;]","og_url":"https:\/\/www.ino.com\/blog\/2011\/08\/will-the-sp-500-close-lower-for-the-7th-day-in-a-row\/","og_site_name":"INO.com Trader&#039;s Blog","article_publisher":"https:\/\/www.facebook.com\/inocom\/","article_published_time":"2011-08-02T19:00:09+00:00","article_modified_time":"2011-08-03T14:40:42+00:00","author":"The INO.com Team","twitter_card":"summary_large_image","twitter_misc":{"Written by":"The INO.com Team","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ino.com\/blog\/2011\/08\/will-the-sp-500-close-lower-for-the-7th-day-in-a-row\/#article","isPartOf":{"@id":"https:\/\/www.ino.com\/blog\/2011\/08\/will-the-sp-500-close-lower-for-the-7th-day-in-a-row\/"},"author":{"name":"The INO.com Team","@id":"https:\/\/www.ino.com\/blog\/#\/schema\/person\/d86a8cce826b7bd105200d88bb28a280"},"headline":"Will The S&#038;P 500 Close Lower For The 7th Day In A Row?","datePublished":"2011-08-02T19:00:09+00:00","dateModified":"2011-08-03T14:40:42+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ino.com\/blog\/2011\/08\/will-the-sp-500-close-lower-for-the-7th-day-in-a-row\/"},"wordCount":968,"commentCount":3,"publisher":{"@id":"https:\/\/www.ino.com\/blog\/#organization"},"keywords":["CRB","Crude Oil","debt","dollar","Donchian Channel","DX","fibonacci resistance","Gold","government spending","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\/08\/will-the-sp-500-close-lower-for-the-7th-day-in-a-row\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ino.com\/blog\/2011\/08\/will-the-sp-500-close-lower-for-the-7th-day-in-a-row\/","url":"https:\/\/www.ino.com\/blog\/2011\/08\/will-the-sp-500-close-lower-for-the-7th-day-in-a-row\/","name":"Will The S&P 500 Close Lower For The 7th Day In A Row? 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