Europe remains a mess and it would appear as though the availability to kick the can down the road is becoming more difficult for countries like Greece and Spain. With 17 nations comprising the Euro Zone, we think it's going to be very difficult to catch all of these "knives" (countries) when they start falling.
In the past four or five weeks we have seen the major equity markets all pullback, with the NASDAQ reaching a 61.8% Fibonacci correction level. The Dow and the S&P 500 have both corrected by 50%, also a Fibonacci number, and we would not be surprised to see a bounce from current levels. Normally when you see corrections of this magnitude to key Fibonacci levels, you get a counter-trend bounce.
The one thing I love about the markets, is that they really do tell a true picture of what's going on. That is why we, along with thousands of our MarketClub members around the world, are so confident that our Trade Triangle technology will keep us on the right side of the market.
BE PREPARED:
Pay close attention to gold this week. A move over the $1,738 level will indicate that all is not well in the world, and that you should be buying gold to protect your purchasing power. This could be in the form of a futures contract, an ETF (GLD or IAU), or physical gold.
1 STOCK TO BUY TODAY:
TITANIUM METALS (TIE)
2 STOCKS TO EXIT TODAY:
AMERICAN ELECTRIC POWER (AEP)
SANDISK (SNDK)
Now, let's go to the markets and see what our Trade Triangles are indicating.
Have a great trading day,
Adam Hewison
Founder & President INO.com and co-founder of MarketClub.com.
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