Tag: fibonacci resistance

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.
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Daily Video Update: Super Mario to the rescue!

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Thursday, the 6th of September.

Now that Mario Draghi, the head of the ECB, has spoken we will let the market decide how it wants to interpret his language. Early indications show the market liked what it heard from "Super Mario" and the shorts are getting squeezed out of the major index markets again.

Of the three equity markets we track in this report, only the DOW has not confirmed itself to be in a bull market.

Earlier today the gold market shot over the psychological $1,700 an ounce level based on concerns that the ECB would be printing more money. That coupled with the Fed printing dollars would lead to inflation worldwide. It was exactly one year ago today that gold made its all-time high of $1,920.26 an ounce. We have been, and continue to be bullish on gold and silver.

Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology.
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Daily Video Update: You must work 6 days a week now … that's an order!

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Wednesday, the 5th of September.

In a leaked letter, the European Commission, European Central Bank, and International Monetary Fund are calling for Athens to implement a six day work week as part of a bailout agreement. Sounds great on paper, but how would you like to be the people of Greece? No country, including Greece, enjoys being dictated to by an outside power. Make no mistake about it, Greece is going to have to drop out of the Eurozone.

Tomorrow all eyes will be on the ECB chairman, Mario Draghi, as he announces the details of his bond buying program. If it is deemed not enough, the markets will tank.

More bad news for the US, the World Economic Forum (WEF) released on Wednesday that the US had slipped two spots in global competitiveness. This marks the fourth year in a row that the US has moved down. Last year, the US was ranked fifth in the world and now it is ranked seventh in terms of global competitiveness. Not good news!

Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology.
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Daily Video Update: Welcome to September -- Game on!

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Tuesday, the 4th of September.

This week should be quite a week. We have Merkle, Monti and the ECB stepping up and coming into focus this week. ECB Bank Pres. Mario Draghi is quoted as saying that he is comfortable helping to buy three-year government bonds to help struggling nations help fund themselves.

But guess what, it all gets down to market perception. Perception is something that politicians have not quite mastered. It is important to understand traders perception and what traders expect will happen in the future.

The perception in the precious metal markets is indicating that inflation is on its way and both the price of silver and gold should climb climb substantially in the weeks and months ahead. Technically that is what the markets are also telling us.

As we mentioned earlier, it all gets down to perception.

Perception is a powerful market force and is difficult to measure and track on a chart. However, it is a force that must be reckoned with by traders and politicians everywhere.

Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology.
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Daily Video Update: Bernanke speaks …Thank goodness that's over!

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 31st of August.

Well, it's the last trading day of the month and judging by the volume this month, hasn't been a particularly great month for anyone. Looks like stocks are going to close out August with a 2% gain on the S&P 500. More interestingly the gold market is up over 4% for the month!

It seems as though the markets are saying in gold we trust and not Bernanke.

When everyone returns from their Labor Day weekend, we expect the markets to have more volume and activity. At the moment, August will go in the books as one of the lowest volume months ever!

When we return in September the market will be fixated on the ECB and what Mario Draghi and Europe may or may not do.

That is what I love about the markets, they are never boring.

To all our American members and readers, enjoy a safe and happy Labor Day.

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