Entries by Alex - Chart Freak

FOMC WEDNESDAY DEC 13th – Ready To Go?

Are you ready? I would have to say that everybody and the markets have been expecting a quarter % rate hike today, so we shouldn't really get any surprises, but let's take a look and prepare for what might be coming our way.  We had Part 1 &2 in Precious Metals, and that showed us A LOT! Now, how do we get ready for what is to come? Let's discuss this next...


SPX - The Markets have continued as expected, we'll see how they react to what should be an expected quarter rate hike.  There is a gap down at the 10sma, so that is an area to possibly be aware of.



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Dec 10 Weekend Report

I think that it is important for this weekend report to FOCUS on the idea of GOLD going on sale, so after a review of the Markets, I am going to have PART 1 of a GOLD SPECIAL REPORT.


BANKS - The banks broke out recently, as reported in  recent reports, and after a quick back test, we see the BANKS ( I mentioned JPM, BAC, RF,HBAN, MS, etc ) Moving higher. It is assumed that an interest rate hike is in the books with Wed Fed Mtg.

SPX #1 - We got our back test of the 10sma, likely a 1/2 cycle low.


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DEC 7 – Thursdays Mixture

When I look at the various sectors of the market,  they still seem to be moving at various rates, so we have a bit of a mixed set up.  Let's take a look at this mixture...


SPX - Here we have the SPX acting as expected. A possible 1/2 cycle low after getting a bit ahead of the 10sma. Some have been riding this for a long time now,  with a trailing stop.   If you bought UPRO  at the DCL, you could try adding if that was your goal. You can see that the SPX does at times break the 10sma & recover, so be prepared for that possibility. See SEPT & OCT.

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December 5th – Don’t Stay Too Long

As mentioned last week, we want to keep some of our open energy trades on a short leash. They were up 20% or so, so after a brief market review, let's take a look, take some profit, and not overstay that welcome  🙂


SPX  - We saw a large doji candle on Friday ( indecision) and on Monday the markets Gapped open on the hopes that a Tax break will help business, but then it sold off. Am I bearish? No, this is day 12 of a bew daily cycle and the move higher was steep, I think we may just drop to the 10sma & my trend line, or go sideways,,,

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Weekend Dec 2

SPX WEEKLY - Still Bullish?  Yes, quite. On a 2 year chart we see that the SPX formed an uptrend channel, and when it got a bit overenthusiastic  ( over throw), it immediately sold off and closed back inside.  Currently it has closed outside (above) that channel. This can create a steeper incline if it doesn't close back inside next week.

That can lead to more of a parabolic move, and...

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