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New Trader's Video - What's ahead for Apple?

Mon, 18 Nov 2008 12:39:00 GMT

posted by tucsonbassplayer

From guest blogger Adam Hewison, president INO.Com

http://www.ino.com/info/262/CD3116/&dp;=0&l;=0&campaignid;=3">
http://www.ino.com/info/262/CD3116/&dp;=0&l;=0&campaignid;=3">Watch Video

I was looking over several charts this past weekend and I was shocked to recognize a chart formation playing out before my very eyes. I've seen this same formation a million times before, but I just didn't want to believe it could be happening to my favorite stock, Apple (NASDAQ_AAPL). Some would call this denial.

In the past I've written extensively about Apple products on this blog. If you have read any of these postings, you'd know how crazy I am about their products.

Several months ago I discovered a major technical formation that spelled trouble for Apple. I have to admit that I was saddened by this. This formation was also picked up by our "Trade Triangle" technology. Our algorithm triggered a sell signal and has continued to suggest a short position for Apple all this time.

Watch my new video on Apple.

I was surprised that we've seen this market come down so easily. It seems like every time I visit an Apple store they are always busy and their products always seem to be selling well.

The question is, are we at the end of the iPod era?

Given the chart formation, the double top and pivot point, it seems we are headed lower. The Pivot Point measures down to the $40-$50 range and Apple at $90 still has a long way to go on the downside.

What caught my eye this weekend was a weekly continuation pattern to the downside and the fact that Apple closed at a new weekly low for the year. This is not a bullish sign by any stretch of the imagination.

For this coming week, I expect to see further downside pressure on Apple. I believe that we are going to be looking at the $50-60 dollar range as our target zone. Of course everything within will be tempered by our "Trade Triangle" technology. When our short-term "Trade Triangle" turns positive, we will close out short positions and take to the sidelines. In my opinion, it's going to take some time for this market to improve and turn around. The technicals are just too weak at the moment.

Watch Video

Every success in trading,

Adam Hewison
President, INO.com
Co-creator, Market Club

4 FREE Videos for INO TV! Click Here

Crude Oil and Gas Market Commentary For Monday Morning

Sun, 17 Nov 2008 13:55:00 GMT

posted by tucsonbassplayer

December crude oil was lower overnight as it extends last Friday's decline. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If December extends this fall's decline, the 75% retracement level of the 2002-2008 rally crossing at 51.81 is the next downside target. Closes above the reaction high crossing at 71.77 are needed to confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at 60.67. Second resistance is the 20 day moving average crossing at 63.43. First support is last Thursday's low crossing at 54.67. Second support is the 75% retracement level of the aforementioned rally crossing at 51.81.

December heating oil was lower overnight as it extends last week's decline below October's low crossing at 190.89. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If December extends this fall's decline, monthly support marked by the 62% retracement level of the 1999-2008 rally crossing at 176.90 is the next downside target. Multiple closes above the reaction high crossing at 221.13 are needed to confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at 194.27. Second resistance is the 20 day moving average crossing at 198.35. First support is last Thursday's low crossing at 179.19. Second support is the 62% retracement level of the 1999-2008 rally crossing at 176.90.

December unleaded gas was lower overnight as it extends last week's decline. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If December extends this fall's decline, the December 2004 low on the weekly continuation chart crossing at 103.50 is the next downside target. Closes above the reaction high crossing at 158.00 are needed to confirm that a short-term low has been posted. First resistance is the 10 day moving average crossing at 133.19. Second resistance is the 20 day moving average crossing at 140.76. First support is the overnight low crossing at 120.59. Second support is the December 2004 low crossing at 103.50.

December Henry natural gas was steady to slightly higher overnight as it consolidates some of last week's decline. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term. If December extends this week's decline, monthly support crossing at 6.000 is the next downside target. Closes above the reaction high crossing at 7.360 are needed to confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at 6.759. Second resistance is the reaction high crossing at 7.360. First support is last Friday's low crossing at 6.054. Second support is monthly support crossing at 6.000.

Crude Oil Market Commentary For Monday Evening

Mon, 18 Nov 2008 01:26:00 GMT

posted by tucsonbassplayer

December crude oil closed down $2.09 at $54.95 a barrel today. Prices closed near the session low today and closed at a fresh 22 month low close. Crude oil bears still have the solid near term technical advantage. However, the market is still due for more of a short covering bounce very soon. Prices remain in a 3 1/2 month old downtrend on the daily bar chart.

Crude Oil Market Commentary For Monday Morning

Sun, 17 Nov 2008 13:36:00 GMT

Crude Oil and Gas Market Commentary For Friday Evening

Fri, 15 Nov 2008 01:31:00 GMT

posted by tucsonbassplayer

December crude oil closed lower on Friday as it extends this month's decline. Today's mid range close sets the stage for a steady opening on Monday. Stochastics and the RSI are oversold, diverging but remain neutral to bearish signaling that sideways to lower prices are possible near term. If December extends this fall's decline, the 75% retracement level crossing at 51.81 is the next downside target. Closes above the 20 day moving average crossing at 64.37 are needed to confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at 61.49. Second resistance is the 20 day moving average crossing at 64.37. First support is Thursday's low crossing at 54.67. Second support is the 75% retracement level crossing at 51.81.

December heating oil closed lower on Friday as it consolidates below October's low crossing at 190.89. The low range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold but remain bearish signaling that sideways to lower prices are possible near-term. If December extends this fall's decline, monthly support marked by the 62% retracement level of the 1999-2008 rally crossing at 176.90 is the next downside target. Closes above the reaction high crossing at 221.13 are needed to confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at 196.05. Second resistance is the 20 day moving average crossing at 200.48. First support is Thursday's low crossing at 179.19. Second support is the 62% retracement level of the 1999-2008 rally crossing at 176.90.

December unleaded gas closed lower on Friday as it extends this fall's decline. The low range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold, diverging but remain neutral to bearish signaling that sideways to lower prices are possible near term. If December extends this fall's decline, monthly support crossing at 103.50 is the next downside target. Closes above the 20 day moving average crossing at 143.23 are needed to confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at 134.75. Second resistance is the 20 day moving average crossing at 143.23. First support is Thursday's low crossing at 121.00. Second support is monthly support crossing at 103.50.

December Henry natural closed lower on Friday as it extends this week's breakout below the 20 day moving average crossing at 6.746. The high range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near term. If December extends this week's decline, the 2007 September low crossing at 5.249 is the next downside target. Closes above the reaction high crossing at 7.332 are needed to confirm that a low has been posted. First resistance is the 10 day moving average crossing at 6.803. Second resistance is the reaction high crossing at 7.36. First support is today's low crossing at 6.054. Second support is the 2007 September low crossing at 5.249.