Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Thursday, the 8th of December.
Jon Corzine is testifying on Capitol Hill today about the collapse of commodities brokerage firm, MF Global. The Corzine strategy is going to be, "I Simply Do Not Know Where The Money Is." In other words, it's not my fault!
IBM announced today that it is buying DemandTec, a price-management software company, for $440 million in cash to expand its cloud service offerings. We will be looking at both of those stocks today.
Do you want fries with that? It seems to be working as McDonald's Corp, (MCD) global same-store sales jumped a bigger-than-expected 7.4% in November. We will analyze McDonald's stock and show exactly what to look for in the future.
Tesla Motors Inc. tumbles 10% on a negative outlook for electric cars. We will also be analyzing at that stock today.
Now, let’s go to the one truth you can count on, the charts! Let's see how they can create, protect, and expand your wealth in the future.
————-
S&P 500 INDEX
————-
BIG PICTURE: Trading Range
Support continues today at $1243. The Trade Triangles are showing a Chart Analysis Score of -55, indicating we are in a trading range for the S&P 500. Our weekly Trade Triangle turned positive on Monday, signaling that intermediate term traders should now be out of this market. Long-term term traders should either be in cash or continue to hold short positions in this index with appropriate money management stops.
Monthly Trade Triangles for Long-Term Trends = Bearish
Weekly Trade Triangles for Intermediate Term Trends = Bullish
Daily Trade Triangles for Short-Term Trends = Bearish
Combined Strength of Trend Score = -55
————-
HOW TO USE THE MARKETCLUB SCORING SYSTEM:
Score: 50 – 65 Trading Range
Score: 70 – 80 Emerging Trend
Score: 85 – 100 Strong Trend
————-
See today’s S&P 500 Video Here.
————-
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.
————-
PERSONAL ONE-ON-ONE MARKETCLUB COACHING
Free call – 877–219–1482 – Free consultation.
Watch my personal one-on-one coaching right here.
————-
SILVER (SPOT)
————-
BIG PICTURE: Strong Trend Bearish
Silver dropped to a six day low today, and a close below $31.50 will represent a ten day closing low for this market. With a Chart Analysis Score of -85, silver is in a bearish trend. Generally speaking, the major trend for silver continues to be negative based on our monthly and weekly Trade Triangles. Our intermediate weekly Trade Triangle turned negative on 11/17. Long-term and intermediate term traders and short term traders should be in short positions in silver with appropriate money management stops.
Monthly Trade Triangles for Long-Term Trends = Bearish
Weekly Trade Triangles for Intermediate Term Trend = Bearish
Daily Trade Triangles for Short-Term Trends = Bullish
Combined Strength of Trend Score = -85
————-
HOW TO USE THE MARKETCLUB SCORING SYSTEM:
Score: 50 – 65 Trading Range
Score: 70 – 80 Emerging Trend
Score: 85 – 100 Strong Trend
————-
See today’s Silver Video Here.
————-
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.
————-
PERSONAL MARKETCLUB COACHING
Free consultation, Free call.
Give us a call at 877–219–1482!
————-
GOLD (SPOT)
————-
BIG PICTURE: Trading Range
Gold now has a Chart Analysis Score of -55, pushing gold back into a trading range. With our monthly Trade Triangle still in a positive position we remain longer term bullish on this 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.
Monthly trade triangles for Long-term trends = Bullish
weekly trade triangles for intermediate term trends = Bearish
daily trade triangles for short-term trends = Bullish
Combined Strength of Trend Score = -55
————-
HOW TO USE THE MARKETCLUB SCORING SYSTEM:
Score: 50 – 65 Trading Range
Score: 70 – 80 Emerging Trend
Score: 85 – 100 Strong Trend
————-
See today’s Gold Video Here.
————-
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.
————-
COPPER (MARCH)
————-
BIG PICTURE: Trading Range
Our comments remain the same as yesterday for this metal. Resistance comes into copper today at the top of the Donchian trading channel at $3.63. Support comes in at $3.50. With today’s Chart Analysis Score of -55, the market is in a trading range. As stated before, copper generally reflects economic conditions, and as such is influenced by equity prices. With equity prices moving higher, it is in return reflected in higher copper prices. The major trend based on our monthly Trade Triangle continues to be negative. Long-term traders should continue to hold short positions in copper with appropriate money management stops. Intermediate term traders should now be on the sidelines.
Monthly Trade Triangles for Long-Term Trends = Bearish
Weekly Trade Triangles for Intermediate Term Trends = Bullish
Daily Trade Triangles for Short-Term Trends = Bearish
Combined Strength of Trend Score = -55
————-
HOW TO USE THE MARKETCLUB SCORING SYSTEM:
Score: 50 – 65 Trading Range
Score: 70 – 80 Emerging Trend
Score: 85 – 100 Strong Trend
————-
See today’s Copper Video Here.
————-
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.
————-
CRUDE OIL (JANUARY)
————-
BIG PICTURE: Trading Range
As we outlined earlier in the week, this market was beginning to look toppy and today's market action confirms our belief that this market has put in an interim top. Right now this market needs to regroup and consolidate if it is going to move higher. The $101.75 area basis the January contract appears to be offering stiff resistance for this commodity at the present time. Look for support to come into this markets at $97.84 which represents a 61.8% Fibonacci retracement. With two of our Trade Triangles green, giving us a +55 Chart Analysis Score, it still appears as though the under lying elements of this market remain bullish. Long-term, and intermediate term traders should be long this market with appropriate money management stops.
Monthly Trade Triangles for Long-Term Trends = Bullish
Weekly Trade Triangles for Intermediate Term Trends = Bullish
Daily Trade Triangles for Short-Term Trends = Bearish
Combined Strength of Trend Score = +55
————-
HOW TO USE THE MARKETCLUB SCORING SYSTEM:
Score: 50 – 65 Trading Range
Score: 70 – 80 Emerging Trend
Score: 85 – 100 Strong Trend
————-
See today’s Crude Oil Video Here.
————-
Suggested Crude Oil 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.
————-
PERSONAL MARKETCLUB COACHING
Free consultation, Free call.
Give us a call at 877–219–1482!
————-
DOLLAR INDEX
————-
BIG PICTURE: Strong Trend Bullish
The dollar index rallied strongly today and once again moved into full bullish mode. The $78.00 area is now seen as an important level of support for this market. Resistance kicks in today at $79.50. The possibility of a major double top in this index is something every trader should be aware of. With all of our Trade Triangles in a positive mode we remain bullish on the market. Long-Term and intermediate term traders should maintain long positions with the appropriate stops in place.
Monthly Trade Triangles for Long-Term Trends = Bullish
Weekly Trade Triangles for Intermediate Term Trends = Bullish
Daily Trade Triangles for Short-Term Trends = Bearish
Combined Strength of Trend Score = +100
————-
HOW TO USE THE MARKETCLUB SCORING SYSTEM:
Score: 50 – 65 Trading Range
Score: 70 – 80 Emerging Trend
Score: 85 – 100 Strong Trend
————-
See today’s Dollar Index Video Here.
————-
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.
————-
REUTERS/JEFFERIES CRB COMMODITY INDEX
————-
BIG PICTURE: Strong Trend Bearish
Based on our Trade Triangle technology, this index is in a bearish trend. Support should be seen at the $305 area for the balance of the week. With all three of our Trade Triangle indicators red we remain firmly in the bearish camp for this market. 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.
Monthly Trade Triangles for Long-Term Trends = Bearish
Weekly Trade Triangles for Intermediate Term Trends = Bearish
Daily Trade Triangles for Short-Term Trends = Bearish
Combined Strength of Trend Score = -100
————-
HOW TO USE THE MARKETCLUB SCORING SYSTEM:
Score: 50 – 65 Trading Range
Score: 70 – 80 Emerging Trend
Score: 85 – 100 Strong Trend
—————
See today’s REUTERS/JEFFERIES CRB COMMODITY INDEX Video Here.
—————
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.
————–
PERSONAL MARKETCLUB COACHING
Free consultation, Free call.
Give us a call at 877–219–1482!
————–
This is Adam Hewison for MarketClub and I’ll see you right here on MarketClub TV at 1pm tomorrow. Have a great trading day.
All the best,
Adam Hewison
President INO.com and co-founder of MarketClub.com
If Corzine doesn't go to jail for this, it will just be another shining example of how our system of justice is broken. Just saw that poor John isn't going to get his golden parachute. Gee, too bad (sarcasm intended).
IBM and MCD are two great stories... if we get some weakness for a few weeks with the markets, I'd look at buying into these names again. I just sold my MCD... great profits in 2 weeks! FAST FOOD = HEALTHY PROFITS at least in the case of MCD.
Dunno about Tesla, though I admire Elon - but I've been the owner of a Chevy Volt for about three weeks now, and the thing truly rocks! Yeah, they made one catch on fire, three weeks after deliberately totaling it in a crash that got it a 5 star safety rating...I hope I wouldn't still be inside any car after it was towed to the junkyard!
Too much fun to describe here. GM's selling these at a loss, so you really do get the goodies at a discount.
Gate Keeper
I cannot get access to the videos today,even after I log in to INO TV, and oddly, I get a message from LiveStream that says Market Club videos have been made private and so are not available. Since I am a MarketClub member, this is a bit frustrating! Hopefully, you know this problem exists and are working on it.
TraderP,
As a MarketClub member the videos are loaded on your MC Homepage. On the right hand side of your Homepage under the chart is a section labeled Member Tutorial & Video Tools. You will see 4 images of the latest videos, all you have to do is click on the image and the video will start playing for you. You do not have to go to INOTV to watch them.
Cheers,
Jeremy