Hello fellow traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Thursday the 15th of March.
The U.S. and the U.K. are considering a release of strategic oil reserves. Oh, come on, like that's really going to help. In the U.S. there is no long term energy plan that changes the energy game. Last time we released strategic reserves the market dip lasted 3 days.
Today's Winning and Losing SECTORS
CONSUMER GOODS: -0.00% <<<<br />
ENERGY: -0.36% <<<<br />
INDUSTRIAL GOODS: +0.46%
UTILITIES: -0.47% <<<
3 Stocks on the move today
CSX Corp (CSX), Coffee Holding Co Inc (JVA) and Advanced Micro Devices Inc (AMD" title="AMD : Stock Quote, News and Research" class="showrtquote">AMD)
Did MarketClub's Trade Triangle technology get it right on these 3 stocks?
Now,let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology.
S&P 500 INDEX
BIG PICTURE: Strong Trend +100
TRADE TRIANGLES: Monthly = Bullish| Weekly = Bullish| Daily = Bullish
As we mentioned yesterday, this market is going to close higher for the week, unless there is a disaster on Friday. With a trading score of +100 this index is in a strong upward trend. Long-term and intermediate term traders should remain positive on this index. Longer-term we expect this market to move up to the 1550 to 1600 level and that could happen by late May early June based on our cyclic work.