logo
  Join        Login             Stock Quote

A Bank, A Pivot Point, And Warren Buffett

 February 28, 2012 11:48 AM
 


Hello fellow traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Monday, the 27th of February.

A Bank, a Pivot Point, and Warren Buffett
So far today, JP MORGAN CHASE & CO (JPM) is a winner.

Crude Oil and USO take a break
Today we share with you the support levels for crude oil and the ETF United States Oil (USO).

3 Stocks on the move today:
MICRON TECHNOLOGY INC (MU), WHIRLPOOL CORP (WHR), and MEDCO HEALTH SOLUTIONS INC (MHS).
Did MarketClub's Trade Triangle technology get it right on these three stocks?

[Related -Bank Stocks: The Misbegottenness of the Volcker Rule Truly Knows No Bounds]

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

We view today's action as very positive for this index. 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 -Gold hasn’t lost its allure in my portfolio]

SILVER (SPOT)
BIG PICTURE: Strong Trend  +100
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 is positive on silver. This particular indicator has done extremely well in the past.


Next Page >>12
iOnTheMarket Premium
Advertisement

Advertisement


Comments Closed


rss feed

Latest Stories

article imageXerox Corp. (XRX): An Insider’s $500,000 Insider Buy

Last week was a healthy week of insider buying as 194 companies reported purchase records. The number read on...

article imageQihoo 360 Technology Co Ltd. (QIHU) Q2 Earnings Preview: A Green Monday

Qihoo 360 Technology Co Ltd. (NYSE:QIHU) will report its second quarter 2014 financial results on Monday, read on...

article imageSix Stocks that Could Outperform in the next 90 days

Earlier today, Goldman Sachs put out its list of the 50 stocks that Matter Most. It’s a list of the 50 read on...

article imageFoot Locker, Inc. (FL) Q2 Earnings Preview: Running Past the Street View

Foot Locker, Inc. (NYSE:FL) plans to report financial results for its second quarter ended August 2, 2014 read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



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.