1PM Recap

Posted on by The INO.com Team

Hello traders everywhere, Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Tuesday the 7th of June.

Here's what's happening in the major markets ...

S&P 500: -60. Only the longer-term monthly Trade Triangle remains intact at this time. Market at the lower end of the Donchian Channel. Neutral - Major Support at $1,250.

Silver: +65. This market reached the midpoint of the Donchian channel. Trading Range Major resistance at $38.80. Near term support at 36.00. Major Support at $34.00.

Gold: +90. All time frames remain positive for this market. The $1,563 is the highest close ever recorded for gold and is resistance. Possible pullback from channel. Minor support at $1,540.00. Major support at $1,500, $1,475.

Crude Oil: +55 Trading range. Long term indicator remains positive. Resistance at $102.00 and $103.00 basis July. Choppy market.Heading for the lower end of the Donchian channel.

The Dollar Index: -100. The longer term Trade Triangle remaining in a negative position. Index reversed from resistance at the $76.50 level. Resistance now at $75.00 and $76.50. Major support at $73.00.

The Thomson Reuters/Jefferies CRB Commodity Index: +60. Near-term resistance at $350.00. Major support at $335.00. Trading RAnge

Get access to all of my past updates and MarketClub TV episodes!

All the best,

Adam Hewison
President of INO.com
Co-founder of MarketClub

6 thoughts on “1PM Recap”

  1. Adam,

    Awhile back you had a "perfect portfolio" which as I recall held oil, gold, S&P, and the dollar. It was based on a stop and reverse strategy. Why is this no longer a good idea as opposed to the current strategy of being on the sidelines? Is it because of too many opportunities to be whipsawed by the recent market conditions?

    Also, what is the current annual rate of return on the Perfect R portfolio?

    Thanks for your continued efforts to help us navigate through these challenging market conditions.

  2. poor mans gold(silver)i think is going back to industrial valuation versus speculation

  3. Your 1PM comments on the markets is really great! It has become the first thing I check on in the morning when I get up (I'm in France). Thanks so much, Adam.

  5. Sir,Your 1pm is an excellent report and is a good hit with all,ha cant u provide some entry level and exit level in any one of ur favorite every day ,like in gold,silver ,oil,etc,hope u world do that some day .

    1. Manish,

      If you join MarketClub we will give you just that for for our 3 Portfolio's that include Oil and Gold. We provide you with your entry and exit points on these markets. I would urge you to give it a try by taking our 30 Day Risk Free Trial.

      http://club.ino.com/join/

      Best,
      Jeremy

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