Carnival Sinks, and Citi and Wells Fargo live in two different worlds

By Adam Hewison

Hello fellow traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Tuesday, the 17th of January.

Citi and Wells Fargo… a tale of two banks.
How MarketClub’s Trade Triangles locked and loaded on these two stocks.
Citi (C): Profit down 11% . Wells Fargo (WFC): Income up 20%.

Carnival Corp sinks.
Carnival Corp. (CCL), RR Donnelley and Sons Co. (RRD), and Sears Holdings (SHLD),
See how our Trade Triangles analyze these stocks.

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Trader’s perception “put Europe on the back burner.”
Europe gets downgraded over the weekend, including the ECB rescue package, and the markets move higher.  So what is happening? The markets have already discounted all the bad news. We believe today’s market action teaches an important trading lesson.  Market perception trumps everything!

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

We’re getting serious with the move over $1300 today, this market is in a clear uptrend. It would appear that perception is trumping reality at the moment in this market. All three of our Trade Triangles are now 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: Trading Range +60
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

The market action today shows that the $30.50 level is going to curtail any further short term strength.  On Jan. 10th, the silver market popped over the upper level of its Donchian Channel and promptly fell back into the channel. We suspect that this area will be an area of future resistance for silver.  With a +60 Score we remain in a trading range. The major trend is to the downside in the monthly Trade Triangle. 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: Trading Range +60
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 suspect that the gold market reached a high today and would expect to see a pullback from current levels.  On Jan. 10th, the gold market popped over the upper levels of its Donchian Channel and met with resistance. We suspect the top of the Donchian Channel to now act as resistance for gold.  With a Chart Analysis Score of +60, this market is in a trading range. 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: 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

The $3.75 level in copper appears to be a resistance area and we expect to see a pullback from current levels.  However, the market action looks as though it is trying to base out to go higher in the future. Only our monthly Trade Triangle is negative on this market at the moment. With a Score of +70, we are in an emerging trend for this commodity. Long-term traders should continue to hold short positions in copper with appropriate money management stops. Intermediate term traders should now be on the sidelines.
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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: Emerging Trend  +80
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

The March contract continues to consolidate above the $98 a barrel level. We are longer term positive on this market, however it must move over resistance to get any upside momentum going. The crude oil market has major resistance at $104 and support at $97. 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: 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

For the past 10 days, the dollar index has been moving sideways and consolidating. However, this index remains above the $80.5 level, which we consider to be an important support zone. This index is in a strong upward trend, but it must be remembered that trends do change and one should be aware of making those changes when they happen. Our Trade Triangle technology has been long this index for quite some time 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

This index reversed from the top of its Donchian Channel, which is now acting as resistance. With a Chart Analysis Score of +55, this index has once again fallen into a trading range. We suspect that the $305 level is going to lend more support to this market on any further weakness. 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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