Author Archive for: Alex - Chart Freak
About Alex - Chart Freak
I’ve been a full time trader for well over a decade and began trading in the late 1990s while working in management and sales at a well-known aerospace company. As my style evolved, so did my success, and it allowed me to leave corporate America to pursue my passion and trade full time.
Entries by Alex - Chart Freak
We'll discuss the theme after a quick review
There was no real change in the General Markets from the weekend report, however the USD did move as expected. In the weekend report I mentioned that I see weakness in the USD chart. It broke below the 50sma Monday. We can get a bounce in time, but I expect the USD to continue to roll over, as noted in the weekend report.
It has been a great start to 2017, with various sectors bullishly marching higher and plenty of trade ideas to profit from. For now it is time to relax on a 3 day weekend and just review where we find ourselves after last weeks trading.
VIX - I do like certain things about the set up of the General Markets, but the VIX is about as low as it gets before the General Markets form temporary tops. I don't use the VIX to time a market top or bottom exactly, but it does often warn of volatility to come. When the VIX hits the 11 area, we are alert to a possible top forming soon.
So let's look at the SPX ..
There are times when we need to take note of a few cautionary signs within the markets that we are trading in. Let's take a look at a few of those signs that are popping up now.
I posted this chart of the vix as a warning sign. This is a 5 year chart and we are in an area where temporary market tops have taken place or years, so we want to be mindful of that. In the next few weeks, the markets could experience increased market volatility and toppy action.
So with that in mind...
Cliff Natural Resources
I pointed out the below chart of Cliff Natural Resources ($CLF) in the premium member report. Is it too late to take a trade when it jumps up 11%? Not when I look at the big picture.
We are back in a Traders Paradise, as many of our stock picks are lifting off and some are just plain old blasting off. Let's do a market review and look at a few more bullish set ups.
SPX - Wednesdays reversal looks bullish, and after this long consolidation, we may have a mini inverse H&S followed by a break out higher. The HUGE fly in the ointment is that we have the VIX near 11.
What does the VIX at 11.30 mean? I'll show you ...
As I was gathering charts for the report, I realized that many of the charts for Tuesday looked just like Mondays. That means there really isn't a whole lot new to say in some sectors, so let's do our review and then discuss some stock picks.
From Monday - no Dow 20,000
No big change - Copy / Past
It's time to see what 2017 has to offer us as traders and investors!
We've started the new year and trading has already been very exciting in various sectors that we at Chartfreak have been looking into. So 'What time is it?' It's also time to get on board and make some money in a variety of bullish set ups that are appearing in the markets! This is a glimpse what we have been looking at lately.
GOLD - I love deep sell offs, because they can lead to strong bounces or recovery. We were waiting for a close above the 10sma. Some Miners bottomed first, but Gold needed to close above the 10sma to start a bullish move higher.
After our normal market review, I wanted to share some additional thoughts about the Uranium Sector, since it has also been perking up and showing signs of life after a bear market sell off. I don't want this to distract anyone from our current focus and trades, but my pointing out a few things here today allows the readers some time to do a little additional research of their own if they are interested. By the end of this report, you will see why I think this could be worth bringing up.
Things are pretty much playing out as expected in the markets, and from what I am seeing in the precious metals sector, things are still on track there too. Let's take a closer look at what last weeks action brought us.
DJIA - 19999.63, are you kidding me? 🙂 A fraction away from DOW 20,000. I feel that we likely just saw a dcl and I would expect a push to new highs soon, so DOW 20,000 should be accomplished in the near future.
There are, however, a couple of other things that I'm noticing in the general markets too.