Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Friday, the 27th of July.
At the moment there are lots of conflicting economic signals coming from Europe, the United States, and China. So, what's an investor to do and believe in? We have always found that the answer for us rests in our Trade Triangle technology. Not only will the Trade Triangles keep you out of non-trending markets, i.e. the current stock market, but they'll also get you in when the trend becomes strong. That's when you want to be in that market and that's the time to make money. So don't worry about what the rest of the world is doing or not doing, trust in MarketClub's non-emotional Trade Triangles.
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Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology. Click Here to view today's video
Things can change very quickly in this market. It may continue to blow off with the hype next week, but there is also the employment report on Friday. Charles Biderman at Trim Tabs reports his jobs data based on real time data on Thursday, but I think it is best to wait for the BLS data reported on Friday for trading though it is based on a survey rather than real time data and is subject to a plus or minus 100,000 reporting error, and that is the number everyone trades from even though it may not be correct.
I can't help but think the market is discounting anything the FED does, and since these central bankers talk to each other, I am thinking Mr Draghi and our FED have cooked something up. Bad economic data is bad data irregardless of FED stimulation, and I don't think anyone knows for sure how the market is going to react to all the stuff next week. The last swing low was near the lower B-Band, and if one goes or stays long here the risk is all the way back to SPY 133 for someone like me who plays the SPY index, too much to play the long side unless we get a break low on a pullback to calculate risk. If Monday is an up day, it will be the first up Monday in a while.
It all smells a bit fishy, but that is just me.
Jul 16, 2012
Short sales on the New York Stock Exchange have climbed above last September’s peak, a level that preceded a five-month rally
Very likely most of next week's market will be to the downside.
You made your video too early. The market's have broken out and are now unlikely to drop again until sometime next year.
I don't even expect 13400 DOW or 1400 s&p will give a blip of resistance. Everyone will rush into these markets now.
CWH,
Timing is everything.
Thanks for your feedback. Yes, I don't disagree with you the market did rally after we made the today's video. However, it isn't over until it's over. We will have to see how the markets play out next week. I'm going to to stick with our trade triangles until we see something we can get excited about.
All the best,
Adam