It's day 14 of the government shutdown and it's certainly getting down to crunch time where someone is going to have to blink. I think both parties know how angry the populace is with their childish behavior. In my opinion, the National Park Service should be fired for what they did with the open air monuments. Last week's market didn't close badly with the expectation that we would have a resolution in place this past weekend. That was not to be case and the major indices are lower this morning. UPDATE: Apple (NASDAQ:AAPL) flashes a major buy signal. The stock closed last Friday at its highest level in five weeks, based on end-of-week closes. The close last Friday was over the 491.10 level that I mentioned in last week's commentary. Apple moved over its "line in the sand" today at $497 and flashed a major buy signal based on our intermediate term Trade Triangle. Upside targets on Apple remain at $550 to $560 a share. Netflix (NASDAQ:NFLX) is on a tear this morning, as it has been in talks with cable companies, including Comcast Corp and Suddenlink Communications, to make its streaming video service available through their set-top boxes. I expect Netflix to run into some form of resistance right around the $315 level, which represents a 61.8% retracement from recent highs and lows. Longer-term, I remain positive on this market. Amazon (NASDAQ:AMZN) faces the same technical resistance around the $315 level. Should this level be taken out, I would expect this market to begin to accelerate its upward momentum. At the moment, all our Trade Triangles remain positive on this stock. The question remains, are we headed for a financial Armageddon? I don't think so, sooner or later the rubber is going to meet the road and these politicians have to realize that if they don't do something, their political careers could be finished. Holding on to their jobs and their position of power is their number one priority and is a very strong incentive to get a deal done. My best guess is that there will be an 11th hour solution.
MarketClub/INO, a division of TIFIN Group LLC, is affiliated with Magnifi via common ownership. Affiliates of Magnifi will receive cash compensation for referrals of clients who open accounts with Magnifi. Due to this compensation, a conflict of interest exists since MarketClub/INO has an incentive to recommend Magnifi LLC.
Magnifi LLC does not charge advisory fees or transaction fees for non-managed accounts. Clients who elect to have Magnifi LLC manage all or a portion of their account will be charged an advisory fee. Please see Magnifi’s Form ADV for additional information about fees and charges that may apply. Magnifi LLC receives compensation from product sponsors related to recommendations. Other fees and charges may apply.
Magnifi, normally $14 per month, will be available at no additional cost to MarketClub members. Account holders must be 18 years of age and have an approved Magnifi account. Magnifi will determine qualifying account holders at its own discretion.
U.S. Government Required Disclaimer—Commodity Futures Trading Commission
Futures and Options trading has large potential rewards, but also large
potential risk. You must be aware of the risks and be willing to accept
them in order to invest in the futures and options markets. Don't trade
with money you can't afford to lose. This is neither a solicitation nor
an offer to Buy/Sell futures or options. No representation is being
made that any account will or is likely to achieve profits or losses
similar to those discussed on this web site. The past performance of
any trading system or methodology is not necessarily indicative of
future results.
CFTC RULE 4.41—HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
All trades, patterns, charts, systems, etc., discussed in this advertisement and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author and do not necessarily reflect those of the publisher or INO.com. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using the MarketClub™ methodology or system will generate profits or ensure freedom from losses. The testimonials and examples used herein are exceptional results, which do not apply to the average member, and are not intended to represent or guarantee that anyone will achieve the same or similar results. Each individual's success depends on his or her background, dedication, desire, and motivation.
You are now leaving a Magnifi Communities’ website and are going to a website that is not operated by Magnifi Communities. This website is operated by Magnifi LLC, an SEC registered investment adviser affiliated with Magnifi Communities.
Magnifi Communities does not endorse this website, its sponsor, or any of the policies, activities, products, or services offered on the site. We are not responsible for the content or availability of linked site.