{"id":9232,"date":"2011-09-08T13:44:39","date_gmt":"2011-09-08T17:44:39","guid":{"rendered":"http:\/\/club.ino.com\/trading\/?p=9232"},"modified":"2011-09-08T13:44:39","modified_gmt":"2011-09-08T17:44:39","slug":"president-obamas-job-is-on-the-line","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2011\/09\/president-obamas-job-is-on-the-line\/","title":{"rendered":"President Obama's Job Is On The Line"},"content":{"rendered":"

\"\"<\/a>Hello traders everywhere, Adam Hewison here co-founder of MarketClub with your 1 p.m. market update for Thursday the 8th of September.<\/p>\n

It's showtime.<\/p>\n

Tonight at 7 PM (EST), all eyes will be focused on President Obama and his speech on creating new jobs in America. This is probably one of the most important speeches he will ever give and could mean the difference between keeping or losing his job in November.<\/p>\n

So what will this mean to the markets?<\/p>\n

So far, President Obama's words have not helped the markets in the past. It remains to be seen what is going to happen to gold, the equity and futures markets after the president's speech.<\/p>\n

We will get an early indication as to how the markets interpret President Obama's make or break speech during after hours trading and in the futures markets.<\/p>\n

As always, we will rely on our Trade Triangle technology.<\/p>\n

Now, let's go to the 6 major markets we track every day <\/a>and see how we can create and maintain your wealth in 2011. <\/p>\n

 <\/p>\n

S&P 500
\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

We are going to stick with our remarks from yesterday for the S&P 500 index. Of course no one knows for sure what the president is going to say tonight which could have a major impact when trading resumes tomorrow. The pattern in this market is not a positive one. The Trade Triangles are in a\u00a0 longer-term negative mode. We believe that this market is going to resume its downward trend. Long-term traders should continue to maintain short positions or be out of the market completely and in a cash position. Intermediate term traders should be on the sidelines waiting for either a buy or sell signal based on our Trade Triangle technology.<\/p>\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 = + 85<\/p>\n

Silver, so far is putting in a very good performance for the day. It would appear that Silver is being looked at as a precious metal again. As we mentioned before Silver has a Jekyll and Hyde personality based on if traders are thinking that Silver is (1) a precious metal, or (2) is it an industrial metal? The Ying and Yang character of this market is sometimes confusing to many novice traders. We expect this market to encounter resistance around $43.20 an ounce. Intermediate and longer term traders should maintain long positions in this market with appropriate stops.<\/p>\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 = + 85<\/p>\n

The lack of any further downside pressure today in this bull market has kept the bulls hopes alive for an eventual move to $2,000. Of concern to us is the negative engulfing line for gold which we discussed and was confirmed yesterday. With our long-term and intermediate term trade triangles the uptrend is still intact and should head higher. Certainly $1900 is the resistance level for gold at the moment. Support comes in around the $1800 area and extends all the way down to $1750. Looking at the market visually it would appear as though we have possibly put in a double top. This will only be confirmed with a close below the $1750 level. Intermediate and long-term traders should maintain long positions with the appropriate money management stops in place.<\/p>\n

-------------
\nCRUDE OIL (OCTOBER)
\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

So far today the $90 a barrel has proven to be resistance on the upside in the October Crude Oil contract. What is also disturbing is the fact that the Williams % R\u00a0 is setting up for a negative divergence to the downside, but it's to early to tell. We will need to have more data to confirm this move. A negative divergence on the Williams % R indicator is as follows: the market makes a new rally high, yet the Williams % R\u00a0 does not follow. This technical situation is also exacerbated by the fact that crude oil is at the top of its Donchian trading channel. Our Trade Triangles are for the moment mixed, indicating a lack of any serious long-term trend. With our monthly Trade Triangle still in a negative mode, we expect that crude oil will continue to move in a sideways manner much like it did for most of August. The longer-term monthly Trade Triangle must be given more weight than either the daily or weekly Trade Triangles.<\/p>\n

-------------
\nDOLLAR INDEX
\nMonthly Trade Triangles for Long-Term Trends = Positive
\nWeekly Trade Triangles for Intermediate Term Trends = Positive
\nDaily Trade Triangles for Short-Term Trends = Positive
\nCombined Strength of Trend Score = + 100<\/p>\n

Today, we want to watch and see how this index closes. We would view a close over the 76.10 level as a positive indication that this market wants to go higher. All of our Trade Triangles are in a positive mode and we expect that this market will continue to build strength to go higher from current levels. The index is heavily overbought on the Williams %R indicator, however that does not mean it cannot go higher. As we have mentioned before the monthly Trade Triangles are perhaps the most powerful for setting the longer-term trends.
\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 = Negative
\nCombined Strength of Trend Score = + 70<\/p>\n

We are still not convinced that this index is ready to move higher. We would view a lower close for the day as a potential negative, indicating that this market can pull back even further. Certainly there is good resistance in this index around the 343 level. We would not be surprised to see this market pullback to the 325\/326 area in the near-term. With a score of + 60 we recommend trading this market using the Williams % R indicator, and the Donchian Trading Channels. Our bias is towards inflation in the future, but we will rely on our market proven Trade Triangle technology to point the way when the time is right. We are expecting to see more of a two-way market in this index in the next several days. Intermediate and short term traders should be out of the market and on the sidelines at the present time.
\n---------------
\nAs always, we rely on our market proven Trade Triangle technology for catching the big moves.
\n---------------
\nIS PERSONAL COACHING RIGHT FOR YOU<\/strong><\/span>?<\/p>\n

Give us a call today at 877\u2013219\u20131482<\/span><\/strong> for a free consultation and see if personal coaching is right for you. The number again is 877\u2013219\u20131482<\/span><\/strong>.<\/p>\n

But first, watch my personal message to you about one-on-one coaching:<\/p>\n

http:\/\/www.marketclubcoaching.com\/now\/<\/a><\/p>\n

This is\u00a0 Adam Hewison for MarketClub, I'll see you tomorrow, right here, same time, have a great trading day.<\/p>\n

All the best,
\nAdam Hewison<\/a>
\nPresident, INO.com
\nCo-creator, MarketClub<\/p>\n","protected":false},"excerpt":{"rendered":"

Hello traders everywhere, Adam Hewison here co-founder of MarketClub with your 1 p.m. market update for Thursday the 8th of September. It's showtime. Tonight at 7 PM (EST), all eyes will be focused on President Obama and his speech on creating new jobs in America. 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