{"id":9245,"date":"2011-09-09T13:40:49","date_gmt":"2011-09-09T17:40:49","guid":{"rendered":"http:\/\/club.ino.com\/trading\/?p=9245"},"modified":"2011-09-09T13:40:49","modified_gmt":"2011-09-09T17:40:49","slug":"the-markets-voted-no-confidence-in-obama","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2011\/09\/the-markets-voted-no-confidence-in-obama\/","title":{"rendered":"The Markets Voted: No Confidence In Obama"},"content":{"rendered":"

\"\"<\/a>Hello traders everywhere, Adam Hewison here co-founder of MarketClub with your 1 p.m. market update for Friday the 9th of September<\/p>\n

It would appear that President Obama's speech last night was not well received looking at the financial markets this morning.<\/p>\n

Readers of this report know that we rely on our Trade Triangle technology for trends, and not what a government official has to say and this includes the president of the United States.<\/p>\n

I learned over the years that the markets generally tell you what they're going to do. Price action alone is the greatest truth you can see in the marketplace. Price action is what determines trends, price action is what determines traders actions.<\/p>\n

Many newbie traders think there must be some mystical power that drives the markets. The truth is, the market is driven by people who believe prices are you going to go higher or go lower. It is that simple, however, most investors tend to over think the market.<\/p>\n

Now I understand that there are folks out there that would disagree with that statement and say that the fundamentals, i.e. supply and demand, earnings etc. etc. is what drives the markets. Yes, there is a certain truth to that, but the other part of the equation is the psychology of the market. Market sentiment or psyche can really play havoc on the fundamentals and that is why price action alone is the best market analyst in the world.<\/p>\n

As we go into this weekend with the 10th anniversary of 9\/11 looming over everyone's head It's important to look at how the markets are closing for the week.<\/p>\n

We consider how a market closes for the week to be very important. Did the market make or lose ground for the week? Which way is the monthly Trade Triangles? Did the market close in the direction of the major trend? All of these thoughts are reflected for the most part in the weekly closing price of any market. That's why we concentrate and bring to you our weekend updates, which allows you to see the big picture and not the minutia of every tick.<\/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 = + 60<\/p>\n

As we have illustrated before the pattern in this market is not a positive one. It would appear as of this writing that the S&P 500 index is going to close lower for the week if it closes at current levels. Last week we closed at 1173.97 and currently were trading at 1162.18. The Trade Triangles longer-term are in a negative mode and we have to believe that this market is going to resume its downward trend before to long. 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 = + 75<\/p>\n

Silver appears to be moving sideways and we are still concerned about the sharp downward move on Tuesday of this week. Technically long-term and intermediate term indicators continue to be positive. In the short term we are seeing some weakness basis our daily Trade Triangles. For the week Silver is slightly lower which is contrary to the longer-term positive trend we see. Last week spot Silver closed at 43.20 and currently were trading at 41.90. This has got to be one of the quieter weeks in the silver market. We expect this market will 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

We are still somewhat concerned about the negative engulfing line that took place on Tuesday and was confirmed on Wednesday. These type of Japanese candlesticks are pretty reliable, however they're not 100% reliable. The 3 concerns we have our a possible double top, a negative engulfing line that is being confirmed and also the fact that we were looking for a cyclic high at the end of Q3 or early Q4. For the week the Gold market is trading about $25 lower. Last Friday spot Gold closed at $1882.33 presently we are trading as of this report at $1855.13. It would appear as though Gold is going to lose ground for the week and this is contrary to the longer-term trends. The $1900 level is resistance 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 = + 60<\/p>\n

The Crude Oil market once again backed off from the $90 a barrel level which we have talked about as being resistance for this market. The Williams % R is setting up for a negative divergence to the downside. Crude Oil reversed itself from the top of its Donchian trading channel yesterday. The monthly Trade Triangle is still negative for this market. We look for Crude Oil to continue to move in a sideways pattern 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

DOLLAR 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

Yesterday, the Dollar Index closed over the resistance level we outlined in yesterday's report. That level of 7610 was reached when the market closed at 76.24. Today the Dollar Index is sharply higher and has clearly broken out to the upside. This could be the start of a major move that we have been talking about for the past several days. This index is coming from a large energy field that is capable of carrying it quite a bit higher, possibly up to the 80.00 area. 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. 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

Our suspicions that this index was not yet ready to move to new high ground were confirmed today with the sharp downward move in this index. Potentially we can see the this index slipping back to the 330 - 325 level before it finds some support. 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. Intermediate and short term traders should be out of this 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<\/span><\/strong>?<\/p>\n

Give us a call today at 877\u2013219\u20131482<\/strong><\/span> 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\/<\/p>\n

This is Adam Hewison for MarketClub, I'll see you tomorrow, right here, same time, have a great trading day.
\nAll 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 Friday the 9th of September It would appear that President Obama's speech last night was not well received looking at the financial markets this morning. Readers of this report know that we rely on our Trade Triangle technology for […]<\/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":[3917,28,1961,1067,3839,3831,147,23,2988,1695,622,307,2074,4053],"class_list":["post-9245","post","type-post","status-publish","format-standard","hentry","category-general","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","tag-government-spending","tag-obama","tag-precious-metals","tag-sp500","tag-williamr"],"yoast_head":"\nThe Markets Voted: No Confidence In Obama - 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:\/\/www.ino.com\/blog\/2011\/09\/the-markets-voted-no-confidence-in-obama\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Markets Voted: No Confidence In Obama - INO.com Trader'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 Friday the 9th of September It would appear that President Obama's speech last night was not well received looking at the financial markets this morning. Readers of this report know that we rely on our Trade Triangle technology for […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ino.com\/blog\/2011\/09\/the-markets-voted-no-confidence-in-obama\/\" \/>\n<meta property=\"og:site_name\" content=\"INO.com Trader's Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/inocom\/\" \/>\n<meta property=\"article:published_time\" content=\"2011-09-09T17:40:49+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=\"7 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\/09\/the-markets-voted-no-confidence-in-obama\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2011\/09\/the-markets-voted-no-confidence-in-obama\/\"},\"author\":{\"name\":\"The INO.com Team\",\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/person\/d86a8cce826b7bd105200d88bb28a280\"},\"headline\":\"The Markets Voted: No Confidence In Obama\",\"datePublished\":\"2011-09-09T17:40:49+00:00\",\"dateModified\":\"2011-09-09T17:40:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2011\/09\/the-markets-voted-no-confidence-in-obama\/\"},\"wordCount\":1416,\"commentCount\":22,\"publisher\":{\"@id\":\"https:\/\/www.ino.com\/blog\/#organization\"},\"keywords\":[\"CRB\",\"Crude Oil\",\"debt\",\"dollar\",\"Donchian Channel\",\"DX\",\"fibonacci resistance\",\"Gold\",\"Government\",\"government spending\",\"obama\",\"precious metals\",\"SP500\",\"William%R\"],\"articleSection\":[\"General\",\"MarketClub Techniques, Tips & Talk\",\"Trading Videos\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ino.com\/blog\/2011\/09\/the-markets-voted-no-confidence-in-obama\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ino.com\/blog\/2011\/09\/the-markets-voted-no-confidence-in-obama\/\",\"url\":\"https:\/\/www.ino.com\/blog\/2011\/09\/the-markets-voted-no-confidence-in-obama\/\",\"name\":\"The Markets Voted: No Confidence In Obama - INO.com Trader's Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.ino.com\/blog\/#website\"},\"datePublished\":\"2011-09-09T17:40:49+00:00\",\"dateModified\":\"2011-09-09T17:40:49+00:00\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ino.com\/blog\/2011\/09\/the-markets-voted-no-confidence-in-obama\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ino.com\/blog\/#website\",\"url\":\"https:\/\/www.ino.com\/blog\/\",\"name\":\"INO.com Trader's Blog\",\"description\":\"Expert Charts, Trading Tips and Technical Analysis from INO.com\",\"publisher\":{\"@id\":\"https:\/\/www.ino.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ino.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.ino.com\/blog\/#organization\",\"name\":\"INO.com Trader's Blog\",\"url\":\"https:\/\/www.ino.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2018\/12\/inologo-400.jpg\",\"contentUrl\":\"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2018\/12\/inologo-400.jpg\",\"width\":400,\"height\":472,\"caption\":\"INO.com Trader's Blog\"},\"image\":{\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/inocom\/\",\"https:\/\/www.linkedin.com\/company-beta\/1056449\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/person\/d86a8cce826b7bd105200d88bb28a280\",\"name\":\"The INO.com Team\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/cb06ce065c1db526fc31f4d08d898a30?s=96&d=identicon&r=pg\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/cb06ce065c1db526fc31f4d08d898a30?s=96&d=identicon&r=pg\",\"caption\":\"The INO.com Team\"},\"url\":\"https:\/\/wwwtest.ino.com\/blog\/author\/the-ino-com-team\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"The Markets Voted: No Confidence In Obama - INO.com Trader's Blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ino.com\/blog\/2011\/09\/the-markets-voted-no-confidence-in-obama\/","og_locale":"en_US","og_type":"article","og_title":"The Markets Voted: No Confidence In Obama - INO.com Trader's Blog","og_description":"Hello traders everywhere, Adam Hewison here co-founder of MarketClub with your 1 p.m. market update for Friday the 9th of September It would appear that President Obama's speech last night was not well received looking at the financial markets this morning. Readers of this report know that we rely on our Trade Triangle technology for […]","og_url":"https:\/\/www.ino.com\/blog\/2011\/09\/the-markets-voted-no-confidence-in-obama\/","og_site_name":"INO.com Trader's Blog","article_publisher":"https:\/\/www.facebook.com\/inocom\/","article_published_time":"2011-09-09T17:40:49+00:00","author":"The INO.com Team","twitter_card":"summary_large_image","twitter_misc":{"Written by":"The INO.com Team","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ino.com\/blog\/2011\/09\/the-markets-voted-no-confidence-in-obama\/#article","isPartOf":{"@id":"https:\/\/www.ino.com\/blog\/2011\/09\/the-markets-voted-no-confidence-in-obama\/"},"author":{"name":"The INO.com Team","@id":"https:\/\/www.ino.com\/blog\/#\/schema\/person\/d86a8cce826b7bd105200d88bb28a280"},"headline":"The Markets Voted: No Confidence In Obama","datePublished":"2011-09-09T17:40:49+00:00","dateModified":"2011-09-09T17:40:49+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ino.com\/blog\/2011\/09\/the-markets-voted-no-confidence-in-obama\/"},"wordCount":1416,"commentCount":22,"publisher":{"@id":"https:\/\/www.ino.com\/blog\/#organization"},"keywords":["CRB","Crude Oil","debt","dollar","Donchian Channel","DX","fibonacci resistance","Gold","Government","government spending","obama","precious metals","SP500","William%R"],"articleSection":["General","MarketClub Techniques, Tips & Talk","Trading Videos"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ino.com\/blog\/2011\/09\/the-markets-voted-no-confidence-in-obama\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ino.com\/blog\/2011\/09\/the-markets-voted-no-confidence-in-obama\/","url":"https:\/\/www.ino.com\/blog\/2011\/09\/the-markets-voted-no-confidence-in-obama\/","name":"The Markets Voted: No Confidence In Obama - INO.com Trader's Blog","isPartOf":{"@id":"https:\/\/www.ino.com\/blog\/#website"},"datePublished":"2011-09-09T17:40:49+00:00","dateModified":"2011-09-09T17:40:49+00:00","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ino.com\/blog\/2011\/09\/the-markets-voted-no-confidence-in-obama\/"]}]},{"@type":"WebSite","@id":"https:\/\/www.ino.com\/blog\/#website","url":"https:\/\/www.ino.com\/blog\/","name":"INO.com Trader's Blog","description":"Expert Charts, Trading Tips and Technical Analysis from INO.com","publisher":{"@id":"https:\/\/www.ino.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ino.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.ino.com\/blog\/#organization","name":"INO.com Trader's Blog","url":"https:\/\/www.ino.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ino.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2018\/12\/inologo-400.jpg","contentUrl":"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2018\/12\/inologo-400.jpg","width":400,"height":472,"caption":"INO.com Trader's Blog"},"image":{"@id":"https:\/\/www.ino.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/inocom\/","https:\/\/www.linkedin.com\/company-beta\/1056449\/"]},{"@type":"Person","@id":"https:\/\/www.ino.com\/blog\/#\/schema\/person\/d86a8cce826b7bd105200d88bb28a280","name":"The INO.com Team","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ino.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/cb06ce065c1db526fc31f4d08d898a30?s=96&d=identicon&r=pg","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/cb06ce065c1db526fc31f4d08d898a30?s=96&d=identicon&r=pg","caption":"The INO.com Team"},"url":"https:\/\/wwwtest.ino.com\/blog\/author\/the-ino-com-team\/"}]}},"_links":{"self":[{"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/posts\/9245"}],"collection":[{"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/comments?post=9245"}],"version-history":[{"count":0,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/posts\/9245\/revisions"}],"wp:attachment":[{"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/media?parent=9245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/categories?post=9245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/tags?post=9245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}