Entries by Alex - Chart Freak

WEEKEND REPORT – Subconscious

Have you ever heard someone say, "In the back of my mind, I was thinking about..." ? Well, in this weekend report I'm going to discuss my analysis ( technical / Cycles / etc)  and the conclusions that are drawn from that, and also what has been subconsciously ' in the back of my mind ' in a few areas.


SPX - Friday I pointed out that we could bounce here, but I still expect a drop from my analysis.

We did get the bounce at multiple support areas after filling a gap & 'buy the dip' has been working.


These patterns do look similar, and some may think that it would lead to further rally upside...

But ' in the back of my mind '...

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Friday May 19th

It is the final trading day of the week, so let's review the market action...


SPX - The SPX backtested the break out trend line and bounced after filling a gap. Please read the chart.

Some may think that this is the dcl, and the "buy the dip'" team has rescued it again.  That might be true, however...

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May 18th – Change

Wednesday brought along some changes, so let's take a look at what we have...



SPX #1 - We are due for a DCL & and ICL in the bigger picture, so I had posted these charts on May 4th showing possible ICL targets ...

And MAY 13th for the weekend report,  a possible dcl target

However, shorter term the markets have been very strong & BUY THE DIP mode kept kicking in, so I actually looked for 1 more push higher.


SPX MAY 17- However this looks like time is up.  That drop into the next dcl is likely taking place

This adds to the story...

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Wednesday May 17

This mornings futures show the markets down a bit, but they have been holding up well lately, especially the Tech area. Let's do a little pre-market review...


 SPX chart from Yesterdays report.  We are still due for a dcl, but the pullbacks have been shallow.

I like to use the NYA too, and this is a bullish set up / consolidation so far.  If it continues to hold the 50sma, it remains bullish looking .

We also have been keeping an eye this...

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MAY 13 – On The Watch

Another week has passed by and many of the recent trade set ups like MACK, NAK, VSTM, NATGAS, etc  mentioned are enjoying their following through.  We also remain on the watch for that next big set up in Precious Metals.  let's take a look...


SPX WEEKLY - Timing wise, the markets are due for a dip down, That doesn't end the bull, you can see these are normal dips to ICLs along the way.  The MACD gives this more of a double top look too.

The NASDAQ ( QQQ here)  has been very strong and earnings season hasn't stumbled it either.

Look at this view and you'll see that it looks very similar to the Parabolic blow off top in 2000.  This ending is not out of the question.  Let' s just take a closer look at that time period.

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May 11 – Trading


NASDAQ -  The NASDAQ continues to climb that wall of worry. If you were long, a trailing stop may work out well, this is now another right translated daily cycle in a Bull Market.  As shown in recent reports, Some stocks are doing well with earnings, and others are getting crushed. Add NVDA & TSEM  to the 'doing well' group. Yelp & SNAP to the getting slapped group.

This is a reminder -  This was my My February thought showing a possible parabolic blow off top . The pattern is similar with a sharp sell off and then a ramp higher.

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May 10th – Changes

We do see some changes occurring in the markets, so let's discuss them.  They may be just temporary or they could last for a little while, so we will discuss that too.



SPX - This was an engulfing candle, but they bought it back toward the end of the day. Could this be the start of the dip into a dcl?

IWM -  I like to use the Russell 2000 and the NYA to get a better picture of the general markets. We see the 2 gaps have already filled here, but the stochastics is still not oversold and therefore more downside is possible.

NASDAQ - The NASDAQ , which has been very strong, also seems to have put in a topping candle, so we could see some selling in the markets going forward.

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