FOMC WEDNESDAY 9-26-18
Well, we find ourselves on a Fed Wednesday today, and…
I Hate to say this, but nothing has changed since the Tuesday morning report. As you look at these charts, you will see that we have no real change to discuss…
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NAZ – No real change since the Tuesday Morning report
USD – No real change since the Tuesday Morning report
WTIC – No real change since the Tuesday Morning report
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USD – No real change here either
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PLATINUM – I have been using Platinum as a confidence booster for Gold, simply because they should run together. PLATINUM is currently Bull Flagging to the 10sma. Lets see what FED WED does to Platinum…
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GOLD – No real change since the Tuesday Morning report
SILVER – A bit of a POP in Silver
GDX – No real change since the Tuesday Morning report here either.
So it feels like Markets may be waiting on the Fed?
There really has been no real change with the indexes or sectors, but stocks obviously did change ( For example, from the last report , WTI, NOG, OAS, HOS, etc have moved higher ). So we wait for the Fed Mtg to see what kind of movement or reaction we get out of what should be a FED RATE HIKE.
I will post a few examples of movement in the individual stocks from yesterday at the end of this report too. Energy stocks are acting properly, and Materials like CLF, CSTM, AKS, X, FCX, SID, HBM, BOOM, SID , etc are also acting correctly. You may want to take another look at those charts.
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Enjoy your Wednesday trading, but keep in mind that there is an FOMC MTG at 2 Eastern.
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~ALEX
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CDE – I Grabbed this chart to point out a nice base developing in CDE. After the FOMC Mtg, re-visit this chart and see what you think. A break from a base could run very nicely.
ISOLF – This was a discussion in the comments about ISOLF. I am using the 13 sma for ISOLF, I own ISOLF too. It was down maybe 15- 20 cents for a while Tuesday morning…
ISOLF – THEN WE STARTED TO SEE A REVERSAL AT THE 13 SMA, and
ISOLF – Toward the end of the day a recovery. A reversal formed by 3:30. By the close, this did actually go slightly red again, but my point is that these move in a very big way, and this is still a bullish chart. That 2 day POP in September was $2 to $4.50, so you have to expect large swings after that. It will NOT always just go higher.
KSHB – It has moved slowly higher day after day since I recommended it here. The upside target is $8.50 or more. % -wise, this has been steady winner.
LHSIF – Simply a very nice chart with nice fundamentals ( just ask Tammie in the comments section, she is doing good home work in this sector ) 🙂
OAS– Many energy stocks that were mentioned in the report yesterday, ( See charts of WTI, HOS, etc) broke higher. OAS looks great too, as it breaks from a multi-month consolidation..
PLNT – Planet fitness has a 2 month consolidation break out. In Tech analysis, if the run looks like this, this is a buy & hold. It is close to oversold now, and has been trending higher from Feb
PPLT – This is a platinum ETF that you can invest in, and again, this helps us to feel that GOLD will follow platinum.
SAND – Another nice base formed, And this is one more thing to watch, to see what happens after the FED MTG. It sold off slightly into the close.
