SCARY, HORRIBLE , UGLY (Or Not?)

I want to show you the chart that I had in my morning report for OIL Wednesday .  Please notice that it says that OIL may pull back to either the upper trend line or $59.34.  It also could pull back to the 50sma in this consolidation and be perfectly healthy...

  WTIC june-2

So what did OIL do Wednesday and what does it mean? ...

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Steel

   

STEEL - Very nice move in steel yesterday.

STEEL Read More

Talk Of The Town

Lets get right to it,  this was a BIG move Tuesday...

 

$USD

USD 6-2 Read More

BOOM

Just a quick update -

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Frustrating

If you have been trading certain Biotech stocks, the markets have been exciting, but if you're watching for a directional move in many other areas? Its been a little boring, maybe a little frustrating. Lets look at the charts...

 

SPX - Sideways for most of 2015 really.  Frustrating for many.  Give me a break (out or down please) 🙂

SPX 6-1 Read More

The Health of The Markets

This weekends report will show what the Charts have to say about the health of various markets.  Just like any living breathing thing, we can go from healthy to sick , from strong to weak and visa versa. What we will see can change, but this is what I am seeing at this point, based on the charts ...

 

The DOW JONES INDUSTRIAL AVERAGE - Selling down with a MACD cross, volume picked up on Friday

DJIA 5-29

So lets look at the DJIA WKLY chart...

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Chart set ups

I posted a premium report pre-market, this is a portion of it for your trading enjoyment, some editing has been done to update it too 🙂

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Charts - Charts - Charts!  It's Friday, the last trading day of the week, so I just wanted to post a few charts instead of the usual full report .   Just for 'Friday trading' or building a watch-list.   I am not talking about buying and holding for a month,  some  traders dont even like to hold over the weekend with Greece and other geopolitical issues out there.  Buy one or two , or put these on your watch list to possibly buy a pull back .  We had reversals yesterday in OIL & Metals , they  can be quite trade-able.   I bought as mentioned in the chat / comments area, but is it long term or short?   Just a quick trade or more?    I'll discuss that this weekend.    On to the charts ...

$WTIC-  small bounce or lows?

WTIC 5-28

What about NATGAS?...

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Just Charts

Charts - Charts - Charts!  It's Friday and I just wanted to post a few charts that look interesting . I am not talking about buying and holding for a month,  some  traders dont even like to hold over the weekend with Greece and other geopolitical issues out there.   Today I am talking about what look like trade set ups / reversals and so on.   Buy one or two , or put these on your watch list to possibly buy a pull back .  We had reversals yesterday in OIL & Metals.  I liked them because they  can be trade-able.   I bought as mentioned in the chat / comments area, but is it long term or short?   Just a quick trade or more?    I'll discuss that this weekend.    On to the charts ...

$WTIC-  small bounce or lows?

WTIC 5-28

What about NATGAS?...

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CRAZY

CRAZY, right?  What a difference a day makes. Traders  that jumped from Long to Short on Tuesdays drop have likely been burned, and that may or may not change going forward. Lets take a look...

SPX WKLY- I love this.  🙂 

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This weekend I showed this weekly chart. 

1. Possible top Friday

2.Vix at lows 

3. SPX Wedge ,  so I said to expect a drop. 

SPX WKLY 5-22

SPX WKLY -  Monday was a holiday, so this is the wkly after Tuesday & Wednesday.  The drop & recovery -  Boom, Boom.

SPX WKLY 5-27

On a daily -  you cant even tell anything happened.

SPX 5-27  

NEXT...

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