What's Ahead For August?

  • 11 years ago
Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Friday, the 2nd of August.

July turned out to be a great month to be in stocks and our Trade Triangles caught many stocks that were headed higher last month. The question is, how will the month of August play out? Typically the month of August is a quiet month, as most traders and investors take off to enjoy the last days of summer. August could be a strong month for the stock market this year, as there are strong trends in place that are pushing stocks higher and no evidence to suggest these trends are going to reverse anytime soon.

With the Fed committed to talking the market up to the tune of $85 billion a month, I seen no change in this policy as Chairman Bernanke prepares to exit the stage in January. What will happen in 2014 is anyone's guess, as the new Fed chairperson is going to be faced with having to dig us out of the ditch that we put ourselves in.

Chances are, we will see the gold market rekindle itself next year.

The higher price of gasoline is a concern in the back of many investors minds right now. At the moment, all our Trade Triangles are pointing to higher levels.

Today's statement from the State Department indicating that most U.S. embassies will be closing for the weekend and warning all Americans about travel plans in the Mid-East and North Africa is just another example of the violent and sectarian world we live in.

Apple Should Be On Your Radar
Apple (NASDAQ:AAPL), without too much fanfare, has rallied from a recent low around $390 and is now trading close to the $460 level. A buy trigger point for our monthly Trade Triangle will flash on a move in Apple over $466. Pay close attention to this stock, as once it moves over $466, I can see a move to the $550 to $575 level.