Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Thursday, the 6th of December.
GAME OVER FOR APPLE?
Yesterday, a 6% drop in Apple came as a surprise to many traders and market analysts, but not to our Trade Triangle technology. In today's video, we examine Apple in detail and show you step-by-step every move you would've made using MarketClub's Trade Triangle approach.
IS GOLD A BUY RIGHT NOW?
There are two ways to look at the gold market right now:
(1) If you are a long-term investor, the major trend for gold continues to be positive as it has been for the past 12 years. This is confirmed with our monthly Trade Triangle, which remains in a positive mode, despite the recent sell-off.
(2) On the other side of the coin, if you are a short to intermediate-term trader, you should be on the short side of gold. This position can change very quickly based on our shorter time frame Triangles, so watch them very carefully.
So, is gold a buy right now? If you are a long-term investor the answer is yes, gold could be a buy right here based on our long-term monthly Trade Triangle. If you are a short to intermediate-term trader, the answer would be a little more patience and evidence of a base being formed is needed before jumping on the long side of this market. Gold will be one of the key markets we will be tracking in 2013.
| MARKETS WITH STRONG TRENDS: | MARKETS WITH MIXED TRENDS: |
| COPPER (Dec): Flat for the week. CLOSED LAST FRIDAY AT $3.6230 |
S&P 500: Lower for the week. CLOSED LAST FRIDAY AT $1,416.18 |
| EURO (Spot): Lower for the week. CLOSED LAST FRIDAY AT 1.2985 |
CRUDE OIL (Jan): Lower for the week. CLOSED LAST FRIDAY AT $88.94 |
| SILVER (Spot): Lower for the week. CLOSED LAST FRIDAY AT $33.36 |
GOLD (Spot): Lower for the week. CLOSED LAST FRIDAY AT $1,714.19 |
Have a great trading day,
Adam Hewison
Founder & President INO.com and co-founder of MarketClub.com.
