Hello MarketClub members everywhere. Like the other 84 million Americans, I watched the presidential debate and I have to say it was as boring as watching an uneventful Super Bowl. The interesting thing is the next day the stock market had a very healthy bounce. I don't think there is one particular event you can point to that caused the bounce, but nonetheless, it was a bounce. The question is, should you buy stocks now? The answer will be if you are long-term trader it may be a good time to be a buyer. On the other hand, if you're an intermediate or shorter-term trader it would be best to wait for a green weekly Trade Triangle in the Dow or the S&P 500 to be a buyer of stocks in those indices. The NASDAQ is a different kettle of fish as that is clearly in a strong upward trend. Let's begin by looking at the major indices and see what they're doing trend wise. DOW (INDEX:DJI): The monthly Trade Triangle remains green and the weekly Trade Triangle is red indicating a sidelines position. In situations like this, it is advisable to remain on the sidelines and out of harm's way until the trend of conflict is resolved one way or the other. S&P 500 (CME:SP500): Much like the DOW the S&P 500 is on the sidelines with a green monthly Trade Triangle and a red weekly Trade Triangle. Again, this calls for sidelines position until the weekly and monthly Trade Triangles are green. NASDAQ (NASDAQ:COMP): Both the weekly and monthly Trade Triangles are green indicating a strong upward trend and a long position. Crude Oil (NYMEX:CL.X16.E): The trend for crude oil is negative at the moment. However, looking at the chart, it would appear as though this market is biding its time moving sideways. This is particularly true when you look at the RSI which is dancing just below the 50 line. I would say a move and close over $46 a barrel would begin to give this market some upside momentum. For the moment I recommend watching the Trade Triangles from the sidelines. Gold (NYMEX:GC.Z16.E): The gold market continues to be on the defensive with the RSI just below the 50 line. Both the weekly and daily Trade Triangles are red indicating a short position. It's interesting to note that the pullback in found support at a Fibonacci 61.8% support area. That area is the $1,324 level. I would watch for a possible bounce from the Fibonacci support level.
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.