Hello traders and MarketClub members! It's April and this is when we're going to see just how well many of America's major corporations fared in the first quarter. At the moment, the market needs some stimulus to move higher and good earnings could provide the jolt that is needed to push it to new highs. The market appears to be trapped in a broad trading range and that is largely reflected with the Trade Triangle technology which is indicating a sidelines position at the moment in all the major indices. Today, I will be following up on my "Is This Apple's Secret Or One Amazing Coincidence?" post to see whether it is still on track. There are a couple of major dates for Apple this month, one is April 10th, when Apple begins accepting orders for its new smart watch and April 27th, when Apple announces its earnings for Q1. The general consensus is that Apple will earn $2.13 per share. A move in Apple this week over $129.25 will turn the intermediate term Trade Triangle positive, indicating a positive trend for this stock. I would not be surprised if this took place as early as this Friday or early next week. I will keep you updated with an Apple alert. Following up on my gold (FOREX:XAUUSDO) analysis, this market is now in a positive mode. I was somewhat disappointed with the pullback, but it is not anything I haven't seen before. Should spot gold close over $1220 this week, I would take that as further evidence that this market has bottomed out and is headed higher. Gold is now over the RSI 50 line, indicating the trend has turned up. That will also occur on the weekly RSI should we see a close over the $1220 level. Also in today's video, I will be looking at the major indices along with the US dollar and crude oil prices. As always I appreciate your feedback and comments on my blog posts. I really do enjoy answering any questions you might have on various markets. There's lots to follow this week and certainly Apple Inc. (NASDAQ:AAPL) is going to do everything it can to drum up as many pre-orders as it can to get as much free publicity as possible. IMPORTANT: Remember, if the same pattern holds true in Apple, we should be seeing a low on Friday or Monday and then an upward swing early next week. Be patient on this one and don't try and jump the gun. The most conservative strategy is to wait for the weekly Trade Triangle to turn green.
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