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MarketClub's Mid-Day Update for 06/17/13
Adam Hewison - MarketClub
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Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Monday, the 17th of June. Are High Gas Prices Going To Squash The Economic Recovery? Last week, all of our Trade Triangles jumped into a positive position, indicating that crude oil prices are headed higher once again. Some of that can be attribute to the events in the Middle East, mainly in Syria. The move higher also has to do with the technical makeup of the market. This market has been moving sideways for a while and seems poised to want to break over the $100 barrel level in the not-too-distant future. This increase in gasoline prices would come at a terrible time for most Americans, as summer driving tends to drive up demand for gas. I will be covering crude oil in today's video. What Goes Up, Must Come Down... Right? The battle continues between the Bulls and the Bears as the markets continue to vacillate both on the upside and downside. Certainly, my call to be on the sidelines for intermediate-term traders has proven to be a wise one. I continue to think that the longer-term trend for the equity markets remains in a positive mode, but it's more of a sideways pattern that we are seeing in the major indices right now. Gold - The New Melting Ice Cube Gold prices continue to melt, as demand for this once precious metal just does not seem to be in the cards at the moment. With all of MarketClub's Trade Triangles in a negative mode, I continue to view this market in the confines of a major down trend. Two Early Buy Signals And Two Early Sell Signals Early in today's trading session, our Trade Triangle technology showed two buy signals and two sell signals. In today's video, I will be covering these four stocks and what they could mean to you in the future. I hope you enjoy this part of our daily update.
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