China misses, riding a HOG, and now Libor is under investigation, and it's only Monday?!

Hello fellow traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Monday, the 12th of March.

SECTORS Losing and Gaining Today:
CONSUMER GOODS:  +0.18%
SERVICES:  -0.26%
HEALTHCARE:  -0.37%
ENERGY:  -1.12%
TECHNOLOGY:  -0.46%
FINANCIAL:  -0.34%
INDUSTRIAL GOODS:  -0.28%
MATERIALS:  -0.48%
UTILITIES:  +0.36%

3 Stocks on the move today:
Equifax Inc (EFX), Harley-Davidson Inc (HOG), and First Solar Inc (FSLR).
Did MarketClub's Trade Triangle technology get it right on these three stocks?

Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology.
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S&P 500 INDEX
BIG PICTURE:  Trading Range  +65
TRADE TRIANGLES: Monthly = Bullish | Weekly = Bearish | Daily = Bullish

A move and close today below the $1,365 level will put in another interim top in this market around the $1,375 level. Should this happen today, we would expect to see another retest of the $1,340 area. With a Score of +65, this index is in a trading range. We still want to maintain our slightly neutral position for intermediate term traders. Long-term term traders should remain positive on this index. This week, look for excellent support to come in around $1,340 area, which I think will be enough to support this market. Longer-term we expect this market to move up to the $1,550 to $1,600 level by late May, early June based on our cyclic work. With two of our Trade Triangles green, a caution is warranted in the near term.  Long term traders should remain long in this index with appropriate money management stops.
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See suggested S&P 500 trading instruments HERE.
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SILVER (SPOT)
BIG PICTURE: Trading Range  -55
TRADE TRIANGLES: Monthly = Bullish | Weekly = Bearish | Daily = Bullish

Today the silver market is on the defense and we would view a close below $33.50 as a negative sign for this market. A 61.8% correction takes this market back down to the $30.40 area on the spot market. We continue to think this market can and will move lower until the end of the month. With a Score of -55, the silver market is in a broad trading range. Our long-term monthly Trade Triangle remains positive on silver. This particular indicator has done extremely well in the past. Long term traders should be holding long positions in silver with appropriate money management stops.
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See suggested SILVER trading instruments HERE.
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GOLD (SPOT)
BIG PICTURE: Emerging Trend  -75
TRADE TRIANGLES: Monthly = Bearish | Weekly = Bearish | Daily = Bullish

With a Score of -75, this market continues to be on the defensive. This market seems destined to move down to test the $1,620 area, which is close to the Fibonacci retracement level of $1,617.34. We are expecting gold to be on defensive for the balance of March. Presently we are negative on gold and we expect it to trade down to much lower levels. We would not rule out a pullback in gold to the $1,650 level, which represents a 50% Fibonacci retracement. With two of our Trade Triangles negative, we expect this market to move lower. Long-term and intermediate term traders should be in short positions in gold with appropriate money management.
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See suggested GOLD trading instruments HERE.
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COPPER (MAY 2012)
BIG PICTURE: Trading Range  +55
TRADE TRIANGLES: Monthly = Bullish | Weekly = Bearish | Daily = Bullish

The key areas to watch this week will be the $3.70 to $3.75 levels. A move below these two areas will cause serious damage to this market which will take a long time to repair. With a Score of +55, copper is in a trading range. We continue to view the longer-term trend in copper as positive. The market action looks as though it has created a large base to move higher in the future. Long term traders should be holding long positions in this index with appropriate money management stops.
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See suggested COPPER trading instruments HERE.
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CRUDE OIL (APRIL 2012)
BIG PICTURE: Trading Range  +65
TRADE TRIANGLES: Monthly = Bullish | Weekly = Bullish | Daily = Bearish

While today's market action is somewhat defensive, the crude oil market continues to regroup and gather strength to move higher. We continue to be bullish on this market. This market has a strong support area around the $104-$105 level. We continue to favor the long side of this market and expect it will improve into early April. See our special report on crude oil HERE . We are looking for crude oil to make its highs probably somewhere in the April, May period.  With a Score of +65, we believe this market is regrouping to move higher later in the month. With our monthly and weekly Trade Triangles in a positive mode, we expect to see further gains in crude oil. All traders should be long this market with appropriate money management stops.
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See suggested CRUDE OIL trading instruments HERE.
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DOLLAR INDEX
BIG PICTURE: Strong Trend  +90
TRADE TRIANGLES: Monthly = Bullish | Weekly = Bullish | Daily = Bullish

With a Score of +90, this market acts in a very positive fashion and we expect to see it move higher in the future. Long term and intermediate term traders using our Trade Triangles should maintain long positions with the appropriate stops in place.
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See suggested DOLLAR INDEX trading instruments HERE.
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REUTERS/JEFFERIES CRB COMMODITY INDEX
BIG PICTURE: Emerging Trend  +80
TRADE TRIANGLES: Monthly = Bullish | Weekly = Bullish | Daily = Bullish

As we mentioned last week, the $314-$315 area is probably a buy at this point in time. Look for pullbacks to be met by good support at that level. Long-term and intermediate term traders should hold long positions in this index with appropriate money management stops.
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See suggested REUTERS/JEFFERIES CRB COMMODITY INDEX trading instruments HERE.
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This is Adam Hewison for MarketClub and don't miss tomorrow's update! Have a profitable trading day.

Take care,
Adam Hewison
President INO.com and co-founder of MarketClub.com