Daily Video Update: The most important debate in American politics takes place tonight. Are you going to watch?

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Monday, the 22nd of October.

One of the big untold stories in 2012 is the fact that the stock market is up 15% for the year and has outperformed every other asset class. The last time this happened was in 1995, so it is pretty unusual. With a couple of months to go before year end, we’ll see how things play out.

Now, it could be argued that the massive ongoing stimulus acted to propel stocks higher. It could also be argued that it was the policies of this current administration that pushed stocks up. Either way, the market is higher for the year. As traders we try not to think about who or what is causing a market to move, we simply like to get the direction right and go with the major trend.

LAST WEEK: Late last week, Lindsay created a very powerful video on SkyWest (SKYW) stock. The video runs about four minutes and explains how using our Trade Triangle technology can help you significantly outperform a buy-and-hold strategy.

We had also talked about Apple stock and the fact that it had made a Fibonacci retracement into a buy zone. That stock is up 2.5% today.

It’s not too late to get my latest e-book! It’s free, so what are you waiting for?

QUICK TAKE ON THE MARKETS:

S&P 500: Trading range. The trend is your friend and the major trend remains positive for the S&P 500 according to our Trade Triangle technology.

CLOSED LAST FRIDAY AT: $1,433.19

CRUDE OIL (Dec): Trading range. The long-term trend is positive for crude and the intermediate-term trend remains negative based on our Trade Triangle technology. Watch this one closely.

CLOSED LAST FRIDAY AT: $90.60

EURO (Spot): Positive trend for the Euro. Two of our Trade Triangles are green and are bullish for the Euro. Watch the resistance at the 1.3160 level. Target zone of 1.3500.

CLOSED LAST FRIDAY AT: 1.3023

GOLD (Spot): Long-term monthly Trade Triangle positive. Look for support around the $1,700 level. A move over the $1,760 level turns the trend back to the upside. Only our long-term monthly Trade Triangle is green and bullish on gold.

CLOSED LAST FRIDAY AT: $1,718.00

COPPER (Dec): Only our long-term monthly Trade Triangle is green and bullish on copper. Support at 3.5500, which is the mid point of the Donchian Channel.

CLOSED LAST FRIDAY AT: $3.6320

SILVER (Spot): Support at $31.30. Only our long-term monthly Trade Triangle is green and bullish on silver.

CLOSED LAST FRIDAY AT: $32.04

WILD CARDS: US Election, Terrorism, Syria, Turkey, Israel, the Fiscal Cliff, Greece and Europe.

Every success in trading and have a great weekend.

Adam Hewison

Founder & President INO.com and co-founder of MarketClub.com.

Click Here to view today’s video

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