Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Friday, the 9th of December.
Stocks in the News
DuPont Co., the most valuable US chemical maker, cut its 2011 earnings forecast by 10 cents. We analyze this stock for you today.
Euro up, Euro down
Today, we will take a close look at the euro and see if you should be long or short this currency.
Stocks on the move
We will be looking at three stocks today that are having big moves and analyze if those moves are for real.
Now, let’s go to the one truth you can count on, the charts! Let’s see how they can create, protect, and expand your wealth in the future.
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S&P 500 INDEX
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BIG PICTURE: Trading Range
The Trade Triangles are showing a Chart Analysis Score of +55, indicating we are in a trading range for the S&P 500. Our weekly Trade Triangle turned positive last Monday, signaling that intermediate term traders should now be out of this market. Long-term term traders should either be in cash or continue to hold short positions in this index with appropriate money management stops.
Monthly Trade Triangles for Long-Term Trends = Bearish
Weekly Trade Triangles for Intermediate Term Trends = Bullish
Daily Trade Triangles for Short-Term Trends = Bearish
Combined Strength of Trend Score = +55
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HOW TO USE THE MARKETCLUB SCORING SYSTEM:
Score: 50 – 65 Trading Range
Score: 70 – 80 Emerging Trend
Score: 85 – 100 Strong Trend
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See today’s S&P 500 Video Here.
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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.
