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[ Money -> Investments ]

If Slovakia votes no, stocks tank tomorrow

By Adam Hewison

This morning I was reading that there are approximately 3.2 million job openings here in the United States. With more than 14 million people out of work in this country, how can we possibly have 3.2 million job openings still not filled?

These are job openings that the private sector needs to fill. I know from our own experience here at our company, finding competent people it extremely difficult. Part of the problem, in my opinion, is that many job applicants have no skills.

The CEO of Cummings, Tim Selso said he can’t find skilled workers for his manufacturing plants. This is a common complaint that many CEOs share.

According to economists, the average worker contributes about $45,000 a year to GDP. If we could just fill 1/3 of those jobs, it would have a huge impact on the economy.

Like many traders today, we were surprised at the velocity of the rally which is based on a potential agreement coming into place in Europe. At the moment no one knows what the deal is, and nobody in a position of authority is indicating what the deal is. The vote from Slovakia has the potential to torpedo any recovery and is a big hurdle approaching tomorrow. If that tiny country votes “no” to this proposed agreement, it could send stocks, and in particular bank stocks, to the cellar!

That leaves us with just one option… What are the Trade Triangles saying?

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2 STOCKS IN THE NEWS
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NETFLIX (Symbol NFLX) - Listens to their customer base. Stock jumps, but is it over on the downside? According to our Trade Triangle technology, the answer is no.

APPLE (Symbol AAPL) – Pre-sells 1 million 1Phone 4S’s. But, remains stuck in a broad trading range.

Now let’s go to the 6 major markets we track and update every trading day and see how we can create and maintain your wealth in 2011.

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S&P 500 INDEX
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The S&P 500 Index just moved into overbought territory today with the strong rally. Even with today’s strong rally, our Trade Triangle technology continues to indicate a trading range. Certainly there is heavy resistance at the 1220 level, which in the past has turned this market to the downside. We want to see how things develop in the next 24 to 48 hours. Intermediate and Long-term traders should continue to hold short positions in this index.

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Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trends = Negative
Daily Trade Triangles for Short-Term Trends = Positive
Combined Strength of Trend Score = - 55
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Suggested S&P 500 Trading Instruments:

Non Leveraged ETF’s: (Long SPY) (Short SH)
2 x Leveraged ETF’s: (Long SSO)(Short SDS)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.

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SILVER (SPOT)
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The silver market continues to move in a sideways fashion. Resistance is evident around the $33.50 range and we expect to see more range bound trading. Our Chart Analysis Score is -75, indicating some of the downside pressure has been relieved from the market. As always we will rely on our Trade Triangle technology to keep us on the right side of the trends. Traders who are following our Trade Triangle Technology should be short this market with appropriate stops.
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Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trend = Negative
Daily Trade Triangles for Short-Term Trends = Positive

Combined Strength of Trend Score = - 75
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Suggested SILVER Trading Instruments:
Non Leveraged ETF’s: (Long SLV) (Short the ETF SLV)
Leveraged ETF’s: (Long AGQ) (Short ZSL)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker

WARNING: Liquidity is some ETFs is very thin. Contact your broker for more information.

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GOLD (SPOT)

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Not much change in the spot gold market from last week. Spot gold continues to consolidate around the $1,650 level. However, our Chart Analysis Score for this market remains at + 55, indicating that a trading range in the short term is very much intact. We would not be surprised to see this sideways action continue for another week or so. I think most traders would be better off just watching from the sidelines until the volatility subsides. Only long-term traders should maintain long positions with the appropriate money management stops in place.
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Monthly Trade Triangles for Long-Term Trends = Positive
Weekly Trade Triangles for Intermediate Term Trends = Negative
Daily Trade Triangles for Short-Term Trends = Positive
Combined Strength of Trend Score = + 55

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Suggested GOLD Trading Instruments:
Non Leveraged ETF’s: (Long GLD) (Short the ETF GLD)
Leveraged ETF’s:(Long UGL) (Short GLL)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity is some ETFs is very thin. Contact your broker for more information.

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CRUDE OIL (NOVEMBER)
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The November crude oil market has rallied back to an area that was previous support and should present some fairly serious resistance. We were somewhat surprised at today’s action however, our Trade Triangles remain in a sideways mode indicating a trading range. We are not totally convinced that this market has turned around and we expected to once again reverse and test the $80 level. As you know, this market has been closely tied in to the movements of the S&P 500. Overall we still view the trend in this market as negative. Intermediate and Long-term traders should continue to be short the crude oil market.
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Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trends = Negative
Daily Trade Triangles for Short-Term Trends = Positive

Combined Strength of Trend Score = - 55
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Suggested Trading Instruments:
Non Leveraged ETF’s: (Long USO) (Short the ETF USO)
Leveraged ETF’s: (Long UCO) (Short DTO)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker

WARNING: Liquidity is some ETFs is very thin. Contact your broker for more information.

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DOLLAR INDEX
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We were a little surprised at how far this market had pulled back from the recent highs, however it did not change the bullish scenario that we have for this index. The next 24 to 48 hours are going to be important for this market, as we believe it should begin to find some form of support around current levels. We continue to be friendly to this market and want to hold positions with money management stops. This index is coming from a large energy field that is capable of carrying it much higher. Intermediate and Long-Term traders should maintain long positions with the appropriate money management stops in place.

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Monthly Trade Triangles for Long-Term Trends = Positive
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short-Term Trends = Negative
Combined Strength of Trend Score = + 55
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Suggested DOLLAR INDEX Trading Instruments:

Non Leveraged ETF’s: (Long UUP) (Short UDN)
Leveraged ETF’s: (Long) (Short)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity is some ETFs is very thin. Contact your broker for more information.

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REUTERS/JEFFERIES CRB COMMODITY INDEX
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The REUTERS/JEFFERIES CRB COMMODITY INDEX had its last major low around the 316 area on August 8th. We expect this previous support area to now act as resistance. We have seen this happen time and time again in the markets. The 316 level also coincides with the midpoint of the Donchian trading channel. Intermediate and Long-Term traders should maintain short positions with the appropriate money management stops in place.
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Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trends = Negative
Daily Trade Triangles for Short-Term Trends = Negative
Combined Strength of Trend Score = - 75
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Suggested REUTERS/JEFFERIES CRB COMMODITY INDEX Trading Instruments:

Non Leveraged ETF’s: (Long CRBQ) (Short the ETF CRBQ)
Leveraged ETF’s: (Long) (Short CMD)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity is some ETFs is very thin. Contact your broker for more information.

[Ed. Note: Adam Hewison is the president, chief executive officer, and a founder of INO.com, Inc. He is also the author of two highly-acclaimed guides to the forex markets: International Monetary Report and Right on the Money, the Definitive Guide to Forecasting Foreign Exchange Rates. Sign up for his FREE email Trading Course by clicking here now..]

Hello traders everywhere!

I think that many of the markets have reached an inflection point. The equity markets appear to have put in an interim low that was seen last Tuesday. Crude oil and the Reuters/Jefferies CRB index also appear to be following that trend.

Gold has more than likely put in a top when it traded over $1800. We don’t believe this is the final top, but just in interim top, as a lot of traders got into this market very late. Silver on the other hand continues to be lackluster compared to gold, and remains on the defensive. Intermediate term traders should be out of silver and on the sidelines.

So let’s go to the 6 major markets we track every day and see how we can create and maintain your wealth in 2011.

S&P 500
Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trends = Negative

Daily Trade Triangles for Short-Term Trends = Negative
Combined Strength of Trend Score = – 90

Chances are we have reached an interim low that was put in this market on Tuesday. The Fibonacci retracement zone has been satisfied and this market remains in a heavily oversold condition. We continue to see choppy action overall for this index. Please remember that the major trend is down for the equity markets and that strong rallies represent shorting opportunities with tight money management stops.

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SILVER (SPOT)
Monthly Trade Triangles for Long-Term Trends = Positive
Weekly Trade Triangles for Intermediate Term Trends = Negative
Daily Trade Triangles for Short-Term Trends = Negative

Combined Strength of Trend Score = – 70

Intermediate term traders should be on the sidelines and out of silver at the present time. Our – 70 Chart Analysis Score indicates more two-way market and a trading range. Do not fall into the trap of thinking that silver is comparatively cheap and feel like you want to buy on that one fact alone. If the market is any good, it will again resume its upward trend. Let us be patient and wait for our Trade Triangles to kick in and give us buy signals.
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GOLD (SPOT)
Monthly Trade Triangles for Long-Term Trends = Positive
Weekly Trade Triangles for Intermediate Term Trends = Positive

Daily Trade Triangles for Short-Term Trends = Positive
Combined Strength of Trend Score = + 90

The $1800 level we mentioned in yesterday’s post was breached in this market before a dramatic pullback. Gold had traded as high as $1814.40 in the cash market before pulling back over $60. The gold market has a tendency to move in swings both on the upside and the downside. We have been indicating that we felt gold was going to make its high in the 3rd quarter of this year, and we may have seen the high for the time being. Both intermediate and short term traders should protect profits with tight money management stops. Support for gold comes in today at $1710 an ounce.
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CRUDE OIL (SEPTEMBER)
Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trends = Negative
Daily Trade Triangles for Short-Term Trends = Negative

Combined Strength of Trend Score = – 100

The low around 76 that was seen in crude oil on Tuesday, in the September contract, we feel is an interim low. This market has now moved back into the Donchian trading channel and we would not be surprised to see a little further upside action here. We would not rule out a rally to 88.00 dollars a barrel based on the September contract.

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DOLLAR INDEX
Monthly Trade Triangles for Long-Term Trends = Positive
Weekly Trade Triangles for Intermediate Term Trends = Negative
Daily Trade Triangles for Short-Term Trends = Positive

Combined Strength of Trend Score = + 65

The dollar index continues to remain in a broad trading range. The index remains below its 200 day moving average while our longer-term Trade Triangles remains positive.

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REUTERS/JEFFERIES CRB COMMODITY INDEX
Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trends = Negative
Daily Trade Triangles for Short-Term Trends = Negative
Combined Strength of Trend Score = -90

It would appear that this index has put in an interim low when it traded down to 315 on Tuesday. As mentioned in yesterday’s reports, we want to pay particular attention to this index and the ETF, DBC, as we feel it could be some good plays on the upside in this market. We want to be patient and let our Trade Triangles do the heavy lifting and wait for a signal from that front. We want to watch this index very closely in the next 2 weeks, as we feel we’re very close to making a major cycle low in commodity prices.

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As always, we rely on our market proven Trade Triangle technology for catching the big moves.

[Ed. Note: Adam Hewison is the president, chief executive officer, and a founder of INO.com, Inc. He is also the author of two highly-acclaimed guides to the forex markets: International Monetary Report and Right on the Money, the Definitive Guide to Forecasting Foreign Exchange Rates. Sign up for his FREE email Trading Course by clicking here now..]