Are you fighting the market, or moving with the market?


Image by: Jeffrey Smith
By Adam Hewison

Hello fellow traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Friday, the 20th of January.

Has the Euro bottomed out?
We look at what our Trade Triangles are now saying about the Euro.

We put these three stocks under the microscope today:
GOOGLE (GOOG), MICROSOFT (MSFT), and INTEL (INTC),
What do our Trade Triangles say about these stocks?

Always remember
DON’T FIGHT THE MARKET … MOVE WITH THE MARKET!!

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Now, let’s go to the charts and MarketClub’s Trade Triangle Technology.
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S&P 500 INDEX
BIG PICTURE:  Strong Trend  +100
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bullish | Short-Term = Bullish
MARKETCLUB SCORING SYSTEM: 50 – 65 Trading Range | 70 – 80 Emerging Trend | 85 – 100 Strong Trend

Our comments remain unchanged from yesterday. The upward march in this index continues, to the surprise of many bears. We now have an upside target in the next two or three months between $1380 and $1400 for this market. That is not to say it will be straight up from here, we would expect to see pullbacks and expect the $1290 to $1300 levels to now act as support.  All three of our Trade Triangles are green, signaling that 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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Suggested S&P 500 Trading Instruments:
Non Leveraged ETF’s: (Long SPY) (Short SH)
2 x Leveraged ETF’s: (Long SSO)(Short SDS)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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SILVER (SPOT)
BIG PICTURE: Emerging Trend +70
TRADE TRIANGLES: Long-Term = Bearish | Intermediate Term = Bullish | Short-Term = Bullish
MARKETCLUB SCORING SYSTEM: 50 – 65 Trading Range | 70 – 80 Emerging Trend | 85 – 100 Strong Trend

We are going to wait until all of our Trade Triangles are green to get long this market.  A Chart Analysis Score of +70 for silver indicates an emerging trend and only our long-term monthly Trade Triangle remains negative.  This particular indicator has done extremely well in the past.  Long-term term traders should be in short positions in silver with appropriate money management stops.  Intermediate term traders should be on the sidelines.
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Suggested SILVER Trading Instruments:
Non Leveraged ETF’s: (Long SLV) (Short the ETF SLV)
Leveraged ETF’s: (Long AGQ) (Short ZSL)
Futures & Options: Contracts are available to trade this market. Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.

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GOLD (SPOT)
BIG PICTURE: Emerging Trend +70
TRADE TRIANGLES: Long-Term = Bearish | Intermediate Term = Bullish | Short-Term = Bullish
MARKETCLUB SCORING SYSTEM: 50 – 65 Trading Range | 70 – 80 Emerging Trend | 85 – 100 Strong Trend

Today the PSAR indicator gave a momentum signal to the downside.  As we pointed out on Wednesday’s MarketClub TV show, a long-term downtrend line drawn from the highs of September 5, 2011 and intersecting the November 13th and December 4th highs, continues to be the overriding factor in this market. That factor along with our negative monthly Trade Triangle continues to act as an inhibitor for this market on the upside.  With a Chart Analysis Score of +70 this market is in an emerging trend.  With our monthly Trade Triangle in a negative position, we are no longer quite as bullish on this metal.  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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Suggested GOLD Trading Instruments:
Non Leveraged ETF’s: (Long GLD) (Short the ETF GLD)
Leveraged ETF’s:(Long UGL) (Short GLL)
Futures & Options: Contracts are available to trade this market. Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.

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COPPER (MARCH)
BIG PICTURE: Strong Trend +100
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bullish | Short-Term = Bullish
MARKETCLUB SCORING SYSTEM: 50 – 65 Trading Range | 70 – 80 Emerging Trend | 85 – 100 Strong Trend

All of our Trade Triangles are positive, indicating that copper has bottomed out and perhaps the economic cycle is now on an upswing.  As stated numerous times, copper generally reflects economic conditions, and as such is influenced by equity prices.  Look for support at the $3.70 level.  The market action looks as though it has created a large base to move higher in the future.  With a Score of +100, we are in a strong trend for this commodity.  Long and Intermediate term traders should now be holding long positions in this index with appropriate money management stops.
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Suggested Copper Trading Instruments:
Non Leveraged ETF’s: (Long JJC)
Futures & Options: Contracts are available to trade this market. Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.

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CRUDE OIL (MARCH)
BIG PICTURE: Trading Range +55
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bullish | Short-Term = Bearish
MARKETCLUB SCORING SYSTEM: 50 – 65 Trading Range | 70 – 80 Emerging Trend | 85 – 100 Strong Trend

The $98.90 level on the PSAR is a key element in this market.  Our comments haven’t changed since yesterday, as the consolidation in crude oil above the $98 a barrel level continues. We are longer term positive on this market, however it must move over resistance at $104 to get upside momentum into high gear. With a Chart Analysis Score of +55, this market is in a trading range.  Long and intermediate-term traders should be long this market with appropriate money management stops.
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Suggested Crude Oil Trading Instruments:
Non Leveraged ETF’s: (Long USO) (Short the ETF USO)
Leveraged ETF’s: (Long UCO) (Short DTO)
Futures & Options: Contracts are available to trade this market. Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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DOLLAR INDEX
BIG PICTURE: Trading Range +65
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bullish | Short-Term = Bearish
MARKETCLUB SCORING SYSTEM: 50 – 65 Trading Range | 70 – 80 Emerging Trend | 85 – 100 Strong Trend

The support we have been discussing all week was broken yesterday as the long-term support trend line, which began on October 26, 2011, was broken to the downside.  Another key area of support for this index that many traders will be watching today is $80.00.  Our Trade Triangle technology has been long this index for quite sometime and remains in a bullish mode.  Long and intermediate term traders should maintain long positions with the appropriate stops in place.
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Suggested DOLLAR INDEX Trading Instruments:
Non Leveraged ETF’s: (Long UUP) (Short UDN)
Leveraged ETF’s: (Long) (Short)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.

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REUTERS/JEFFERIES CRB COMMODITY INDEX
BIG PICTURE: Trading Range -55
TRADE TRIANGLES: Long-Term = Bearish | Intermediate Term = Bullish | Short-Term = Bearish
MARKETCLUB SCORING SYSTEM: 50 – 65 Trading Range | 70 – 80 Emerging Trend | 85 – 100 Strong Trend

Our comments are unchanged on this market today.  With a Chart Analysis Score of -55, this index has once again fallen into a trading range. We suspect that the $306-$307 levels are going to lend more support to this market on any further weakness.  For this market to get going on the upside it must move over the $316 level.  Our long term Trade Triangle remains negative for this index, while our intermediate signal is green and calling for higher prices. Long-term traders should hold short positions in this index with appropriate money management stops.

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Suggested REUTERS/JEFFERIES CRB COMMODITY INDEX Trading Instruments:
Non Leveraged ETF’s: (Long CRBQ) (Short the ETF CRBQ)
Leveraged ETF’s: (Long) (Short CMD)
Futures & Options: Contracts are available to trade this market. Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.

[Ed. Note: Adam Hewison is the president, chief executive officer, and a founder of INO.com, Inc. He is also the author of two highly-acclaimed guides to the forex markets: International Monetary Report and Right on the Money, the Definitive Guide to Forecasting Foreign Exchange Rates. Sign up for his FREE email Trading Course by clicking here now.]

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