Daily Video Update: Is QE3 the next rocket that propels the SP500 Index to $1,550?

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Friday, the 7th of September.

Back in late August, we suggested that the markets would return to a more normal state with more trading volume and activity when traders returned from their summer vacations. Well, the comment out of Europe from Mario Draghi, head of the ECB, certainly propelled the dart of September to a quick start!

Yesterday's market action was a combination of new buying, and a large part of the move higher in the equity markets was short covering, as shorts scrambled to cover positions.

Another big call out yesterday was the move in the precious metals markets. Today we are seeing follow-through buying in gold, silver, and copper. Make no mistake about it, we are in bull markets in these metals. We are looking for all these markets to be strong for the next six months.

Look for the markets to close well today, as traders will be wary of taking home any short positions over the weekend.

This maybe a perfect weekend to employ our 52-week high rule to any market that is making new 52-week highs on the close.

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

4 thoughts on “Daily Video Update: Is QE3 the next rocket that propels the SP500 Index to $1,550?”

  1. Hi MC, I've been trying to find information on the 52 wk rule that you kept talking about this past daily update, I could not find it, unless I am looking for the wrong search criteria. Can you please direct me to a video about that, if you have them? Thank you so much! This website is great!

  2. I just joined MC...great lead on gold and silver..been in for the last few weeks ...all up nicely. Now i will add my stocks for MC and trade triange annalysis...looking forward to improving my trading with your very good tools and ideas for trades... I like that they are day, wk, mo and have the % rankings...also looking forward to new 52 week high rule ideas for trades. Thanks to you and your team for all you do!! We need good coaching and training and information to empower us as consumers!!

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