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Market Update for July 1, 2018



1) U.S. equities closed mostly higher on Friday but posted losses for the week as trade War fears linger. The Dow Jones Industrial Average gained 55.36 points, the S&P 500 added 2.06 points while the Nasdaq 100 closed higher by 6.62 points and the Russell 2000 finished lower by 1.95 points.

2) Crude Oil Futures rose a little over 1% to close above $74 for the first time since November of 2014 while Gold Futures finished the day higher by $3.20 due mostly to weakness in the U.S. dollar. The Bond market closed slightly lower on Friday and the yield on the 10-year treasury note closed at 2.860.

Apple Is Poised to Move Even Higher After Reporting 3Q Earnings

First published at TheStreet

We don’t generally trade prior to earnings but both technical and fundamental factors are suggesting a long play on AAPL prior to the earnings announcement on July 22.

Wall Street has been riding high on AAPL for some time now and expecting it to report $1.22 per share in earnings for Q3, Fiscal 2014, an increase of over 10% year-over-year. So, they’re making money. What else is new? From a fundamental perspective, the breaking news is Apple’s recent deal with IBM. This is huge from a revenue growth perspective. These long-time competitors are now teaming up to ride the tablet and app wave. According to Forrester research, business and governments (i.e. enterprise) spent approximately $11B on iPads alone in 2013. This is a significant amount for any industry but only accounts for a small portion (about a third) of the Cupertino giant’s total iPad sales. Furthermore, the $11B number is expected to increase by 20% over the next two years.

Slope Theory

A simple explanation of an easy yet powerful trading technique.

https://www.youtube.com/watch?v=im-mcJA5HaM

NFLX - Trend

Here is a discussion on NFLX's chart trends.

https://www.youtube.com/watch?v=TOmjidRNz7A&feature=youtu.be

AMZN Trend Analysis

Here's a short analysis discussing the current trend of AMZN.

https://www.youtube.com/watch?v=BiWLT6yig6E&rel=0

Topping Action Explained

Here's a short video explaining what topping action is and what to look for.

http://www.youtube.com/watch?v=LR6ciovsQaA&rel=0

 

Will GLD Continue to Glimmer?

http://www.youtube.com/watch?v=F-xUDogVOVo&rel=0

SPDR Gold Trust ETF (GLD) traded above its 200 day exponential moving average for the second time in a week. This got our attention for a number of reasons. We noted that GLD had been in an uptrend since the beginning of the year and considering the geopolitical situation in Ukraine and Russia, we decided to take a closer look.

The previous time that GLD was above its 200 day exponential moving average was in January 2013. Since then it had been in a downward trend, which was not surprising considering the relatively stable world economy and investors’ increased tolerance of risk in the stock market.  On June 28, 2013, GLD marked its low for the year-to-date at $114.68. It tested that low and closed even lower at $114.50 on December 19, 2013 and set its low for the calendar year at $114.46 on December 31, 2013, causing a Triple Bottom. Aggressive traders started taking the trade at that point (see chart below).

Why TSLA is the AAPL of the Auto Industry

On September 11th, we decided to trade Tesla (TSLA). We had been watching the trajectory of this stock since August 1st, when it was trading at $135.00. We felt the price action  warranted a closer look.

This stock had been the definition of volatility, where any news caused big price swings, whether warranted or not. From Department of Energy loan repayment issues to the ongoing battery supply saga, Tesla’s stock has never been short on headlines. By September 11th, we had seen enough and knew that it was time to go long.

Here’s what we saw that day:

Our Redesigned Site is Here

We launched the newest version of our website on October 17th and we think it’s pretty darn good.  Our whole reason for the redesign was to give our clients and industry professionals an improved user experience while still giving them the best in market trades and news. The site now makes navigation easier for both existing clients and new users. We’ve also added to our cluster of dedicated servers to offer lightning-fast speed for all users.

The new site also features enhanced security and privacy with the use of Norton security and TRUSTe, leading names in internet security and consumer privacy protection respectively. This assures both members and non-members that we’ve made significant efforts to go above and beyond typical web requirements to protect them.

One of the enhanced features available on the new site is the ability to use Disqus to post comments and banter with other traders in the community. Subscribers of the PRO level subscription also have the opportunity to pose questions directly to the pro traders and ask their opinions on positions and strategies. The one thing that our developers could not do was bring along all of the comments from the old site.

Why We Traded ADP and How We Made 57% On That Trade

Whenever we look for new trades, we always look to see where there is the greatest amount of value. While we are technical traders by definition, the idea of getting good value on a trade is not lost upon us.

The following is a chart of ADP that we were reviewing recently when we decided to enter a trade:

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