Entries by Alex - Chart Freak

November 8th – Propping Up The Markets

November 8, 2018 in /by

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

November 7, 2018 in /by

 

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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The MJ Stocks, Round 2?

November 6, 2018 in /by

(below is a sample of Alex’s work from the week.  The marijuana stocks were highly volatile in recent months and after the news of legalization in Canada, they saw a sharp sell off [‘sell the news.’] A reversal appears in order.  There are dozens of companies to cover in the MJ sector, including the MJ […]

November 1st – Setting Up

November 1, 2018 in /by

 

SPX DAILY -  Yesterday I mentioned the day 52 lows,  the 'last engulfing candle' and probability of a low forming here.   We did get follow through higher on Wednesday.

SPX DAILY -  We did get a pop higher.  It sold off into the close, but I still feel that this is a valid break higher for a dcl. It may drift lower along this trend line and fill that gap though.

SPX WEEKLY 1 of 4- We have a weekly reversal.

 

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Weekend Detective Work

October 27, 2018 in /by

I have been digging in this weekend, and looking for more clues within our market sectors. Let's just get right to it, I've stumbled across some rather 'interesting' finds to share with you. We will focus much of this report on the GOLD & MINERS , after reviewing the Big Picture on the General Markets and Oil...

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SPX DAILY - The selling has been relentless and as mentioned,  the safer buy would be to wait for a confirmed daily cycle low  (DCL).  Though we did have a bounce over a week ago, this week we did not have enough buying to push above that 10sma.   That said,  CYCLE COUNT indicates that we are very close to that dcl.   A doji candle formed Friday, a candle of indecision with Buyers Vs Sellers breaking even. THE LOWS ARE DUE.

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