logo
  Join        Login             Stock Quote

It’s Friday, Do You Know Which Markets Are Headed Higher?

 February 24, 2012 02:48 PM


Hello fellow traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Friday, the 24th of February.

A bull market that is surprising everyone
Today we will figure out why the equity markets are going higher.

Where is the next stop for crude oil?
We share with you with the next major level for crude oil.

3 Stocks on the move today:
SALESFORCE.COM INC (CRM), INTERPUBLIC GROUP OF COMPANIES (IPG), and GAP (GPS).
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.
—————————————————————————————–

S&P 500 INDEX

BIG PICTURE:  Strong Trend  +100
TRADE TRIANGLES: Monthly = Bullish| Weekly = Bullish| Daily = Bullish I think the action in the equity markets is starting to surprise a lot of people. I would say if we see a close over $1367 today, it will be bullish for the weekend. 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.

[Related -SP500 Completing the Arc into Target Levels]

[Related -Global Risk-off Means More Downside For stocks]

SILVER (SPOT)
BIG PICTURE: Strong Trend  +90
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 turned positive yesterday. This particular indicator has done extremely well in the past.


Next Page >>123
Advertisement

Advertisement


Comments Closed


rss feed

Latest Stories

article imageHas Warren Buffett Found The Best Investment In Oil?

Shares of oil stocks plunged again as the price of West Texas Intermediate wiped out nearly half of its read on...

article imageDemand For Safe-Haven Bonds Surged Last Week

The crowd piled into investment-grade bonds last week as economic worries triggered an exodus out of risky read on...

article imageThoughts on MetLife and AIG

In some ways, this is a boring time in insurance investing.  A lot of companies seem cheap on a book and/or read on...

article imageA 2016 Recession Would Be Different

If the US or the Eurozone entered a recession this year, a few macroeconomic variables would look very read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

How Overextended is the SP500 Right Now in June?
More Articles on: Finance



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.