Hello fellow traders everywhere. Adam Hewison here co-founder of MarketClub with your weekend trading update for the week ending on 7/22/11.
Out of the six markets we track every trading day, five markets were in positive territory for the week. The only market that did not end up in the plus column was the dollar index which fell 1.19%.
The percentage winner for the week was crude oil which moved up 2.32% and is on the verge of breaking out on the upside. The markets continue to wait and wonder as to what is going to happen with the debt ceiling talks.
It would seem like neither the democrats or the republicans give a hoot about the country, all they seem to be interested in is political gamesmanship and preserving their own power. We are as of today's taping no closer to getting a debt ceiling deal in place than we were a week ago. UGH!!!
Europe is still in a quandary even though the politicians are trying to save face and save the no win situation in Greece. Imagine the first bailout to Greece didn't work, so now we are going to loan Greece even more money to pay back. Does that make any sense to anyone?
Its like Greece belongs to this exclusive country club and can't afford to pay it's monthly tab or membership fees. Well, guess what, in the real world, i.e. the private sector, Greece would be kicked out of the club, end of story. However, in the world of political make-believe and Kabuki theater, we'll just loan you more of the tax payers money to pay for your dues. Sorry, I forgot it's Europe's turn to "Kick The Can Down The Road".
Let's take a look at the charts, because unlike politicians, they tell you what is really going on in the world.
So here's what happened last week in the major markets….
S&P500 move for the week: +2.19%
Monthly Trade Triangles for Long-Term Trends = Positive
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short-Term Trends = Positive
Combined Strength of Trend Score = + 90
Silver move for the week: +2.00%
Monthly Trade Triangles for Long-Term Trends = Positive
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short-Term Trends = Positive
Combined Strength of Trend Score = + 100
Gold move for the week: +.47%
Monthly Trade Triangles for Long-Term Trends = Positive
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short-Term Trends = Positive
Combined Strength of Trend Score = + 90
Oil move for the week: +2.32%
Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short-Term Trends = Positive
Combined Strength of Trend Score = + 60
$ Index move for the week: -1.19%
Monthly Trade Triangles for Long-Term Trends = Positive
Weekly Trade Triangles for Intermediate Term Trends = Negative
Daily Trade Triangles for Short-Term Trends = Negative
Combined Strength of Trend Score = + 75
CRB Index move for the week: +.43%
Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short-Term Trends = Negative
Combined Strength of Trend Score = + 60
If you haven't watched our earlier 1 PM updates, check them out on this blog
Just in case you missed this week's MarketClub TV show it is available on the blog right now to watch. It was a fun show with lots of participation from you, thank you so much for all the questions you sent in.
Be part of our show next show by calling 410-867-2100 extension 129 and (1)leave us a message, (2) tell us how you use MarketClub, (3) asked a question about the market or (4) anything to do with the markets.
Call today and be automatically entered to win a one-year membership to MarketClub. The winner will be announced on this week's coming show.
As always, we rely on our market proven Trade Triangle technology for catching the big moves.
As always, we rely on our market proven Trade Triangle technology for catching the big moves.
Dear Adam & Co,
Here you go again making nonsensical remarks about the geopolitical factors that influence the markets. In short, most of your subscriber base is not interested in your political take. Stick to professing the market's next move with your trade triangle technology.
And while you're at read Val's comments...I'm a quite infuriated too and I'm not a dues paying member.
If you continue down this path Adam your blog will become irrelevant and your little website will go the way of the dodo...if you catch my drift.
Thank you.
Eric (too many credentials to list)
Hi Adam,
I am a paid up member of your service and I love the Trade Triangles and love the weekly updates and Videos but I wonder why you are making it so difficult for us paid up members to access anything lately ?
When I joined first it was a delight to use your website - now its becoming a real "pain in the butt" and I mean this seriously and its time you started to sit up an smell the coffee before you lose a lot of subscribers !
For example, why do I have to go to the trouble of signing in all the time to see anything ? I thought this was one of the advantages of being a member ?
I have seen other people commenting on this problem also. Have you thought about the damage that you might suffer if a Twitter campaign started ? Mr. Murdoch is a good example.
Somebody needs to have a serious look at your website and I don`t meant next year!!
KIND REGARDS,
VAL
Val,
All of Adam's videos are available to MarketClub Members on their Homepage. Are you not seeing them on your Homepage?
Best,
Jeremy
Your comments about the Congress and the debt ceiling indicate that your thinking is juvenile and your knowledge of what is really happening is very limited. Sober up.
Who writes this drivel?