skip to page content

Haven't We Seen All Of This Before?

Adam Hewison - MarketClub

Loading the player...

Hello MarketClub members everywhere. There is no doubt about it Friday's move was sharp and painful for many investors. However, if you are following the Trade Triangles you were out of the market and on the sidelines based on the red weekly Trade Triangle's that were indicating potential problems for all the major indices. 

Looking back, Friday's move looks very similar to the move we saw on June 24 of this year when the market dropped dramatically on a Friday only to open lower on Monday. The markets then reversed themselves and moved up and made back all their losses in just four or five days.

The big question is, is this going to be a repeat of last June?

While it's still too early to tell, the long-term trend for all the indices continues to be in a positive mode. It is only the intermediate-term trend that is in question at the moment. This week could be a key week for markets. We also have the Fibonacci retracement levels to look at and will do so in today's video.

The gold (FOREX:XAUUSDO) market has remained remarkably quiet given the volatility in the equity markets. I still believe that we will see gold once again coming to the forefront of investors minds as they clamor for security. While gold does not pay any interest, it certainly has historically proven to be a store of value. I think there are still many unanswered questions about banks and countries that are in trouble. This is especially true in several of the EU countries. We will have to be patient to see how that troubled area plays out.

Looking at crude oil (NYMEX:CL.V16.E), this market continues to remain in a trading range with today's latest daily Trade Triangle indicating a sidelines position at the moment. The intermediate-term weekly Trade Triangle is still in a positive mode indicating the potential for a resumption of the uptrend.

Last week I mentioned Apple Inc. (NASDAQ:APPLE) and the new iPhone seven. It would appear as though the market, in general, looked upon this event as more or less a non-event as Apple stock has in fact fallen and given a red weekly Trade Triangle exit signal. Not many people know I am a huge Apple fan or have been in the past. However,  Apple needs to continue to innovate, and that is tough to do on a continuing basis. Many of Apple's competitors have now caught up with Apple particularly in the smartphone category which is Apple's biggest profit center. At the moment I prefer to be on the sidelines and see Apple in a trading range.

Back to videos

Get Started With Your 30-Day MarketClub Trial Right Now

Get Started

© Copyright MarketClub™ All rights reserved | User Agreement | Do Not Sell My Personal Information

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.

×

It’s not goodbye, it’s hello Magnifi!

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.

Take Me To Magnifi