A Bank, a Pivot Point, and Warren Buffett

Hello fellow traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Monday, the 27th of February.

A Bank, a Pivot Point, and Warren Buffett
So far today, JP MORGAN CHASE & CO (JPM) is a winner.

Crude Oil and USO take a break
Today we share with you the support levels for crude oil and the ETF United States Oil (USO).

3 Stocks on the move today:
MICRON TECHNOLOGY INC (MU), WHIRLPOOL CORP (WHR), and MEDCO HEALTH SOLUTIONS INC (MHS).
Did MarketClub's Trade Triangle technology get it right on these three stocks?

Now, let's analyze the markets using MarketClub's Trade Triangle Technology.
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S&P 500 INDEX
BIG PICTURE:  Strong Trend  +100
TRADE TRIANGLES: Monthly = Bullish | Weekly = Bullish | Daily = Bullish

We view today's action as very positive for this index. Longer-term, we expect this market to move up to the $1550 to $1600 level by late May early, June based on our cyclic work. With all three of our Trade Triangles green, a bull market is underway.  Long and Intermediate term traders should now be holding long positions in this index with appropriate money management stops.
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See suggested S&P 500 trading instruments HERE.
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PERSONAL MARKETCLUB COACHING
Free consultation, Free call.
Give us a call at: 1-877-219-1482
International: 1-801-341-3981
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SILVER (SPOT)
BIG PICTURE: Strong Trend  +100
TRADE TRIANGLES: Monthly = Bullish | Weekly = Bullish | Daily = Bullish

A move and close over $36.00 would be a game changer for silver, as it breaks a major downtrend line. This would set up a target zone of around $44.00. We want to be patient and wait to see if this actually happens. Our long-term monthly Trade Triangle is positive on silver. This particular indicator has done extremely well in the past. Long and intermediate term traders should now 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: Trading Range  +55
TRADE TRIANGLES: Monthly = Bearish | Weekly = Bullish | Daily = Bearish

The gold market pulled back today and flashed a negative daily Trade Triangle, our very short-term daily indicator. When this indicator is red, we may see further weakness in this market. With a Score of +55, this market remains in a trading range. Gold is fast approaching a major resistance level at $1800 an ounce, and we expect that this will be a major in pediment to this market's run up. With our long-term monthly Trade Triangle still in a negative red mode, we cannot get to excited about this market at the moment. We are not bearish on this metal, we just need further confirmation with the tools we know are successful in trading gold. Long-term term traders should be in short positions in gold with appropriate money management stops. Intermediate term traders should be on the sidelines.
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See suggested GOLD trading instruments HERE.
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COPPER (MAY 2012)
BIG PICTURE: Trading Range  +75
TRADE TRIANGLES: Monthly = Bullish | Weekly = Bearish | Daily = Bullish

This is pretty much the same comments we had on Friday for this market. We would view a close today over $3.90 in the May contract as a very bullish sign for copper. With a Score of +75, the copper market is regrouping from its recent sell-off and moving into an emerging trend. We continue to view the longer-term trend in copper as positive. Look for support at the $3.77 level.  The market action looks as though it has created a large base to move higher in the future. Long term traders should now 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: Strong Trend  +90
TRADE TRIANGLES: Monthly = Bullish | Weekly = Bullish | Daily = Bullish

We are looking for the crude oil market to regroup over the $105 level and generate enough energy to push to new highs over the $110 area. See our special report on crude oil HERE (LINK TO SPECIAL REPORT). We are looking for crude oil to make its highs probably somewhere in the May period.  With a Score of +90, this market is in a strong trend to the upside. We remain longer term positive on this market. With our monthly, weekly, and daily Trade Triangles in a positive mode, we expect we will 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: Trading Range  -70
TRADE TRIANGLES: Monthly = Bullish | Weekly = Bearish | Daily = Bearish

There is a possibility we are creating a bullish divergence for this index. A 61.8% Fibonacci retracement takes this market back down to the $77.38 level. With a Score of -70, this market is once again in an emerging trend to the downside. Long term traders using our monthly 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  +100
TRADE TRIANGLES: Monthly = Bullish | Weekly = Bullish | Daily = Bullish

The close on Friday over the $325 level indicates that this market is going to move much higher. With all of our Trade Triangles green, it would appear as though this market is sending a strong signal that inflation is just around the corner. Look for this index to move steadily higher. With a Score of +100, look for any pullbacks to be met by good support.  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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PERSONAL MARKETCLUB COACHING
Free consultation, Free call.
Give us a call at: 1-877-219-1482
International: 1-801-341-3981
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This is Adam Hewison for MarketClub and I'll see you tomorrow with my mid-day update.  Have a profitable trading day.

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