Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Wednesday, the 30th of November.
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PERSONAL ONE-ON-ONE MARKETCLUB COACHING
The call and the consultation are FREE. 877–219–1482
MarketClub TV Tonight! Call 410-867-2100 ext. 129 or email
ma**********@in*.com
and leave a question for the show.
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Central Banks to the Rescue ...
For the first time in three years, China eases reserve agreements by .50 points!
The Fed, the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank and the Swiss National Bank all agreed to lower the pricing on the existing temporary U.S. dollar liquidity swap arrangements by .50 basis points.
According to a Federal Reserve statement today, "The purpose of these actions is to ease strains in financial markets and thereby mitigate the effects of such strains on the supply of credit to households and businesses and to help foster economic activity."
Say hello to inflation.
Now, let's go to the charts and the video and see how we can create and protect your wealth for the balance of 2011.
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S&P 500 INDEX
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BIG PICTURE: Bearish
Combined Strength of Trend Score = -55
Monthly Trade Triangles for Long-Term Trends = Bearish
Weekly Trade Triangles for Intermediate Term Trends = Bearish
Daily Trade Triangles for Short-Term Trends = Bullish
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See today's S&P 500 Video Here.
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The S&P 500 index moved into a -55 Chart Analysis Score, indicating that we have now entered a trading range. There's no doubt that these markets have been extremely volatile and the swings have been extreme. The cyclicality of the S&P 500 has not been lost on us, and we suspect that we may see this index move higher for the balance of December. Long-term and Intermediate term traders should either be in cash or continue to hold short positions in this index with appropriate money management stops.
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Suggested S&P 500 Trading Instruments:
Non Leveraged ETF's: (Long SPY) (Short SH)
2 x Leveraged ETF's: (Long SSO)(Short SDS)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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PERSONAL ONE-ON-ONE MARKETCLUB COACHING
Free call - 877–219–1482 - Free consultation.
Watch my personal one-on-one coaching right here.
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SILVER (SPOT)
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BIG PICTURE: Bearish
Combined Strength of Trend Score = -75
Monthly Trade Triangles for Long-Term Trends = Bearish
Weekly Trade Triangles for Intermediate Term Trend = Bearish
Daily Trade Triangles for Short-Term Trends = Bullish
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See today's Silver Video Here.
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The spot silver market finally shook off some of the lethargy that has been in this market for the past 10 or 12 days and moved to its best levels in 6 days. This market is still not out of the woods yet as it has resistance at the top of the Donchian trading channel at $33.00 today. Generally speaking, the major trend for silver continues to be negative based on our monthly Trade Triangle. Our intermediate weekly Trade Triangle turned negative on 11/17. Long-term and intermediate term traders should continue to hold short positions in silver with appropriate money management stops.
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Suggested SILVER Trading Instruments:
Non Leveraged ETF's: (Long SLV) (Short the ETF SLV)
Leveraged ETF's: (Long AGQ) (Short ZSL)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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IS PERSONAL MARKETCLUB COACHING RIGHT FOR YOU?
Free call - 877–219–1482 - Free consultation.
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GOLD (SPOT)
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BIG PICTURE: Trading Range
Combined Strength of Trend Score = +65
Monthly trade triangles for Long-term trends = Bullish
weekly trade triangles for intermediate term trends = Bearish
daily trade triangles for short-term trends = Bullish
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See today's Gold Video Here.
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Despite the sharp move up in gold to its best levels in 11 days, it did not change the status of our weekly Trade Triangle. We remain positive on this market and expect we will see it move much higher in 2012 as inflation kicks in around the world. Long-term traders should remain positive for this precious metal. Intermediate term traders should be out of this market at the moment and on the sidelines waiting for a buy signal with the weekly Trade Triangle.
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Suggested GOLD Trading Instruments:
Non Leveraged ETF's: (Long GLD) (Short the ETF GLD)
Leveraged ETF's:(Long UGL) (Short GLL)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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COPPER (MARCH)
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BIG PICTURE: Trading Range
Combined Strength of Trend Score = -55
Monthly Trade Triangles for Long-Term Trends = Bearish
Weekly Trade Triangles for Intermediate Term Trends = Bearish
Daily Trade Triangles for Short-Term Trends = Bearish
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See today's Copper Video Here.
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The copper market moved into a -55 Chart Analysis Score today, reflecting a trading range. Generally speaking, the major trend for this metal continues to be negative. As stated before, copper generally reflects economic conditions, and as such is influenced by equity prices. Long-term traders should continue to hold short positions in copper with appropriate money management stops.
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Suggested Copper Trading Instruments:
Non Leveraged ETF's: (Long JJC)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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CRUDE OIL (JANUARY)
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BIG PICTURE: Bullish
Combined Strength of Trend Score = +90
Monthly Trade Triangles for Long-Term Trends = Bullish
Weekly Trade Triangles for Intermediate Term Trends = Bullish
Daily Trade Triangles for Short-Term Trends = Bullish
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See today's Crude Oil Video Here.
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With all of our Trade Triangles green and giving us a +90 Chart Analysis Score, it would appear as though we are in a strong bullish trend. All our Trade Triangles remain in a positive mode which is the direction of the major long term trend. Major resistance remains between the $103 and $105 levels. Long-term, and intermediate term traders should be long this market with appropriate money management stops.
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Suggested Trading Instruments:
Non Leveraged ETF's: (Long USO) (Short the ETF USO)
Leveraged ETF's: (Long UCO) (Short DTO)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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IS PERSONAL MARKETCLUB COACHING RIGHT FOR YOU?
Free call - 877–219–1482 - Free consultation.
Watch my personal one-on-one coaching right here.
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DOLLAR INDEX
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BIG PICTURE: Bullish
Combined Strength of Trend Score = +85
Monthly Trade Triangles for Long-Term Trends = Bullish
Weekly Trade Triangles for Intermediate Term Trends = Bullish
Daily Trade Triangles for Short-Term Trends = Bearish
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See today's Dollar Index Video Here.
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Today's pullback in the dollar index brings this market back to an area of support at the lower levels of the Donchian trading channel. Our daily Trade Triangle moved into a bearish position on Monday, which was a tip-off for the market's two day pullback. However, with our weekly and monthly Trade Triangles in a positive mode, we have to believe that after this period of consolidation is over, we will see the dollar index resume its bullish trend and move higher. Two of our three Trade Triangles are in positive mode indicating that this market remains in a bull market. Long-Term and intermediate term traders should maintain long positions with the appropriate stops in place.
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Suggested DOLLAR INDEX Trading Instruments:
Non Leveraged ETF's: (Long UUP) (Short UDN)
Leveraged ETF's: (Long) (Short)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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REUTERS/JEFFERIES CRB COMMODITY INDEX
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BIG PICTURE: Bearish
Combined Strength of Trend Score = -85
Monthly Trade Triangles for Long-Term Trends = Bearish
Weekly Trade Triangles for Intermediate Term Trends = Bearish
Daily Trade Triangles for Short-Term Trends = Bullish
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See today's REUTERS/JEFFERIES CRB COMMODITY INDEX Video Here.
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If you are concerned about inflation, this is the market to watch. At the moment we are not in a bullish configuration based on our Trade Triangle technology. However, based on the action of the central banks today, we may well be entering into a period of inflationary pressures. We will wait and watch this indicator and our Trade Triangles looking for a sign that the inflation bull is upon us. Resistance is evident at the $315-$320 levels, with support coming in between $300 and $305. Our long and intermediate term Trade Triangles remain negative for this index. Long-term and intermediate term traders should continue to hold short positions in silver with appropriate money management stops.
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Suggested REUTERS/JEFFERIES CRB COMMODITY INDEX Trading Instruments:
Non Leveraged ETF's: (Long CRBQ) (Short the ETF CRBQ)
Leveraged ETF's: (Long) (Short CMD)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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IS PERSONAL MARKETCLUB COACHING RIGHT FOR YOU?
Free call - 877–219–1482 - Free consultation.
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HOW TO USE THE MARKETCLUB SCORING SYSTEM:
Chart Analysis Score: 50 - 65 Trading Range
Chart Analysis Score: 70 - 80 Emerging Trend
Chart Analysis Score: 85 - 100 Strong Trend
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This is Adam Hewison for MarketClub and I'll see you tonight at 5 pm EST, right here on MarketClub TV. Have a great trading day.
All the best,
Adam Hewison
President INO.com and co-founder of MarketClub.com
Greg Peel says yesterdays action is merely a currency swap
http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=F665C546-0C1B-BB77-17D413B86E531A83
Did Cramer say which bank ?
Cramer thinks this is a sign that a major bank was going to implode today... your thoughts? Time to throw money to people, not institutions.
Global Quantitative Easing has arrived in force and is now official. What comes after a trillion?
we all become millionaires . . . .
Adam, you said that "the Market could move higher the balance of December". Then why would you recommend that intermediate traders be in cash of hold short positions?
YEA,rejoice!! Central Banks to the Rescue OF THEMSELVES
Fake markets, FAKE Economy, HIGHER taxes and inflation for all, Save the banker pigs and FU to the rest of us,
what a joke
Do not short the S&P 500 market!
Shorting the market is pure gambling.