Watch this weekends video here. <\/a>
\nNow, let's go to the 6 major markets we track every day and see how we can create and maintain your wealth in 2011.
\n--------<\/p>\nS&P 500
\nMonthly Trade Triangles for Long-Term Trends = Negative
\nWeekly Trade Triangles for Intermediate Term Trends = Negative
\nDaily Trade Triangles for Short-Term Trends = Positive
\nCombined Strength of Trend Score = - 55<\/p>\n
The long term trend for the S&P 500 is still negative despite today's rally.\u00a0 This index has finally moved into an overbought condition and we would expect to see a reversal from the high that was seen on August 17th, at 1208.47.\u00a0 With a Chart Analysis Score of - 55, this market is in a trading range with a negative bias to the downside.\u00a0 We are still viewing this market in a longer-term bear trend.
\n--------
\nSILVER (SPOT)
\nMonthly Trade Triangles for Long-Term Trends = Positive
\nWeekly Trade Triangles for Intermediate Term Trend = Positive
\nDaily Trade Triangles for Short-Term Trends = Negative
\nCombined Strength of Trend Score = + 75<\/p>\n
The technical picture for silver is much the same as gold, as silver remains trapped in the middle of this range.\u00a0 Both our long-term and intermediate term trends are positive and we expect to see silver regroup above the $39 an ounce level.\u00a0 Overall to this observer, it would appear as though the silver market has for the time being, topped out.
\n-------------
\nGOLD (SPOT)
\nMonthly Trade Triangles for Long-Term Trends = Positive
\nWeekly Trade Triangles for Intermediate Term Trends = Positive
\nDaily Trade Triangles for Short-Term Trends = Negative
\nCombined Strength of Trend Score = + 75<\/p>\n
After an extremely volatile last week, the gold market should be settling down to a more normal trading style.\u00a0 At the moment this market is stuck in the middle of both its price range and the Williams % R indicator.\u00a0 The major and intermediate term trends are still positive and we would approach this market from the long side if given the right technical picture.\u00a0 If you're not in the market at the present time, we would suggest a sidelines position until we settle down to more normal trading conditions.\u00a0 Long Term and intermediate term traders should stay disciplined and hold onto long positions and of course protect profits with money management stops.\u00a0 Short-term traders should now be on the sidelines and waiting for a new long entry point.
\n-------------
\nCRUDE OIL (OCTOBER)
\nMonthly Trade Triangles for Long-Term Trends = Negative
\nWeekly Trade Triangles for Intermediate Term Trends = Negative
\nDaily Trade Triangles for Short-Term Trends = Positive
\nCombined Strength of Trend Score = - 55<\/p>\n
IMPORTANT NOTICE: Please note that our comments are based on the October contract.\u00a0 The crude oil market is putting in a positive performance so far today.\u00a0 However, it is still in the confines of a downward trend. The highs seen on August 17th, at 89.19 should hold the current rally in check.\u00a0 The market is also rapidly approaching an overbought condition which should probably thwart some of its upward momentum.\u00a0 Both monthly and weekly Trade Triangles are in a negative mode, indicating that the longer-term trend is down.
\n-------------
\nDOLLAR INDEX
\nMonthly Trade Triangles for Long-Term Trends = Positive
\nWeekly Trade Triangles for Intermediate Term Trends = Negative
\nDaily Trade Triangles for Short-Term Trends = Negative
\nCombined Strength of Trend Score = - 60<\/p>\n
The dollar index continues to find good support at the 73.50 level. Previously the dollar has rallied from this area which is now in an oversold condition.\u00a0 Our indicators show a - 60 Chart Analysis Score which indicates a trading range.\u00a0 We would not be surprised to see a bounce come into this index in the not too distant future.\u00a0 We would want to trade this market using our Donchian Trading Channels and our Williams %R indicator.\u00a0 The index remains below its 200 day moving average, while our longer-term Trade Triangle remains positive.
\n-------------
\nREUTERS\/JEFFERIES CRB COMMODITY INDEX
\nMonthly Trade Triangles for Long-Term Trends = Negative
\nWeekly Trade Triangles for Intermediate Term Trends = Positive
\nDaily Trade Triangles for Short-Term Trends = Positive
\nCombined Strength of Trend Score = + 70<\/p>\n
The CRB index has rallied quite dramatically from the lows that were seen on August 9.\u00a0 This index has now retraced back to 337.21 which is a 61.8% retracement.\u00a0 This is an important Fibonacci turning point.\u00a0\u00a0 The market is also in an overbought condition, similar to what was seen in July. We would expect that this market will once again pullback from current levels.\u00a0 Our bias is towards inflation in the future, but I'm expecting to see more of a two-way market in this index in the next week or so.\u00a0 Intermediate and short term traders should be out of the market and on the sidelines at the present time.<\/p>\n
---------------
\nAs always, we rely on our market proven Trade Triangle technology for catching the big moves.
\n---------------
\nIS PERSONAL COACHING RIGHT FOR YOU?<\/p>\n
Give us a call today at 877\u2013219\u20131482 for a free consultation and see if personal coaching is right for you.<\/p>\n
This is Adam Hewison<\/a> for MarketClub and I'll see you tomorrow, right here, at 1pm.\u00a0 Have a great trading day!<\/p>\n","protected":false},"excerpt":{"rendered":"Hello traders everywhere!\u00a0 Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Monday, the 29th of August. It is hard to believe, but I am actually sitting in a Starbucks coffee shop writing this report. Irene certainly did her damage on the East Coast, and we like millions of other folks […]<\/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":[3917,28,1961,1067,3839,3831,147,23,1695,307,2074,4053],"class_list":["post-9099","post","type-post","status-publish","format-standard","hentry","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-sp500","tag-williamr"],"yoast_head":"\n
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![\"\"](\"\/\/club.ino.com\/trading\/wp-content\/uploads\/2010\/07\/starbucksman-150x150.jpg\" "\\"starbucksman\\"")
<\/a>It is hard to believe, but I am actually sitting in a Starbucks coffee shop writing this report. Irene certainly did her damage on the East Coast, and we like millions of other folks are without power today.\u00a0 It would appear that we were lucky with the hurricane, as many other folks were affected much more than us.<\/p>\n