Entries by Alex - Chart Freak

November 17 Weekend Report

As time moves forward, we begin to see the moves that we anticipated in various sectors, as they begin rising out of the recent lows.  Let's get updated on our Big Picture expectations...

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SPX WEEKLY #1 - We see that price has moved to resistance, please read the chart.

 

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What? Huh, Oil? Who said something about Oil?

(Below is a sample of Alex’s works from the past week.)  These past few weeks have been extremely frustrating for a lot of traders out there.  So many are getting chopped up and setups that look promising one day, fail the next. There is something that many traders don’t want to hear, especially ones just […]

Friday November 16th

Just a reminder : Today is the last trading day of the week, and next week will be a holiday shortened trading week in the U.S., so let's see where the markets stand and enjoy our Friday of trading!

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Note:  we'll see how 'earnings' affect the markets going forward, but NVDA released earnings after the bell, and got crushed, down over  $33 or 16%.   We will discuss that with the NASDAQ too.

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SPX -  Wednesday we had a gap fill and a bounce into the close.  We need a bigger sign of strength than that, so we'd see if Thursdays trading could show some strength...

SPX - Markets sold off to a new low on Thursday morning,  and then put in a nice reversal.  It overtook more than 1/2 of the prior days candle, so you could add to positions on a day like that, with a tight stop at the lows.   Our inverse H&S remains in tact, let's see if this can power higher.

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November 14th – Saving Grace?

Let's take a look at the Markets, and I will discuss the Theme Picture later in the report. Consider the last part of this report as  important, and please read it carefully.

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DJIA - We have a gap fill.  Now let's see if these markets can get moving to the upside. I have discussed my thoughts on the General Markets in recent reports.

 

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Wednesday – Oil Did What?

It certainly looks as though Oil has entered the capitulation phase of a sell off into an ICL, and a low is very near.  I want to discuss that as a future buy opportunity in this report, but first we'll do a market review.   Just to reiterate:  In just about every sector, Trading remains very choppy.  That can be a bit  frustrating or even a bit damaging if position size isn't kept small, stops aren't honored, etc.  The sidelines are not a bad place to be until the dust settles a bit.

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SPX - Rejected at the 50 sma on a bounce, so far this peaked on day 7.  We now have a possible inverse H&S, but the open gap below could draw price in for a gap fill.

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11-13-18 / Choppy Trading – You Can Also Sit On The Sidelines

The Stock Market involves real money, so it's by no means considered just a 'game', but similar to many  games, we have a few choices when we take a position(s).  If, over time, we find that things are getting a little rough ( the markets may get choppy for example,  or players may get banged up), we still have choices.

    3 basic choices are:

1. We can exit the playing field (sell) and head for the sidelines to avoid all  of the choppiness.

2. We can stay in the play until we get 'stopped out' or are rewarded with a move higher

3.  Just wait on the sidelines and see how the game plays out for a bit as a spectator, and look for a better time to enter

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Nov 10 – Weekend Review

It was a bit of an exhausting week with the constant volatility and choppiness in various sectors of the markets.  let's review this weeks  market activity....

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IWM DAILY  - I drew this on Nov 8 saying that short term, I would expect the markets to pull back due to this light volume rising bear  wedge, however...

 

IWM DAILY  - That doesn't mean a big pull back, it may simply be this tag of the 10sma...

IWM DAILY  - And so far that is what we have.  IWM dropped and bounced off of the 10sma.

 

 

Now let's look at the Bigger picture...

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November 8th – Friday

It is the Last day of the week and the Elections have passed, the somewhat non-event of the FOMC Meeting has passed, so now let's just take a look at what we have going on...

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SPX - We had a slight pause on day 8, so I have just drawn in a possible dip to an inverse H&S at the 10 sma as support.  This is just hypothetical.

 

However here is another reason that I think we may see a drop in the General Markets....

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November 8th – Propping Up The Markets

As mentioned yesterday, Markets do not like uncertainty, but with elections out of the way, we could get a Post Election Pop.  As you can see, we got that Pop.  Today is an FOMC Meeting, and there were a few other areas of interest that continued to set up for higher price too.  Let's take a look...

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SPX - On day 7, we can expect markets to hold up above the swing low from here, but I'm still wondering if they can recover fully,  or will things remain a bit choppy again going forward?

 

This is what I am looking at...

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November 7th – Elections, an FOMC Meeting, and More Chop

 

It has been difficult trading or investing for the Buy & Hold group.  October was a drop into our ICL , and it was a deep one.  Since then, we have seen a lot of choppiness heading into the U.S. Elections.  Markets do hate uncertainty.  Now that that will be behind us, we still have an FOMC Mtg scheduled for Wednesday & Thursday of this week, so unless we get a strong reaction higher when the results of the elections are released, maybe we should just expect a bit more choppiness .   Let's review our market sectors...

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SPX  - After an A-B-C type sell off , this looks like an ICL is in place and we are on day 6.  Resistance is right above, so the elections results could push price through.  Markets do not do well in uncertain times, so the post election results could help the markets.

 

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