The Great Cryptocurrency Conspiracy of 2018....The truth, the whole truth, and nothing but the truth about cryptocurrencies—and how Wall Street and Washington are covering it up....Register Here for this FREE Event

Wednesday, September 7, 2011

Adam Hewison: What A Difference A Day Makes

The song goes like this; “What a difference a day makes....” Gold, sharply lower on heavy profit taking and liquidation. Equities, sharply higher as all the problems in the world are solved. The U.S. dollar has a hiccup. Crude oil up on new demand? All this while the world waits for President Obama’s speech tomorrow evening. Here’s a rhetorical question for you, how many cans can you kick down the road at the same time? Well, if you’re a politician you become pretty adept at kicking as many cans as you want down the road.

The S&P 500 continues to claw its way back from the lows yesterday around the 1140 area. However, the pattern in this market is not a positive one in my estimation. The Trade Triangles are in a longer term negative mode. We have to believe that this market is going to resume its downward trend. Today’s reading of +55 indicate a sideways trading range.

We would use the Williams %R indicator to establish new short positions. Long term traders should continue to maintain short positions or be out of the market completely in a cash position. Intermediate term traders should be on the sidelines waiting for either a buy, or sell signal based on our Trade Triangle technology.

Monthly Trade Triangles for Long Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short Term Trends = Negative
Combined Strength of Trend Score = +55

Unlimited access to this and other trading videos FREE! Click Here!

No comments: