Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
Half Day Friday
In the U.S. , the stock market is only open for a 1/2 day, so I wanted to discuss the Precious Metals...
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Expect Light Holiday Tradin’ ?
One would expect a light volume holiday trading week, but so far many of the charts that I looked at have normal or average volume. Maybe it will lighten up each day, but let's take a look at what trading took place after the weekend report.
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SPX - The markets have been choppy and instead of that inverse H&S pattern breaking back above the 200 sma again, Monday the Markets dropped.
I used this chart in the weekend report along with the increasingly ugly charts of FB, GOOG, NVDA, and even the IWMs lack of strength, to show the current weakness. I warned again that if we don't see strength soon, we may see an a-b-c drop that looks like this on the General Markets Weekly Charts.
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.
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.
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.
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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