Oct 6th – Weekend Market Review
SPX WEEKLY #1 - I have been expecting a dip into a DCL, and likely an ICL. Last week saw the SPX drop how deep will it be? Please read chart #1...
Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
Friday October 5th
It is Friday, the last trading day of the week, so let's just do a quick review...
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SPX - Yesterday using this chart , I pointed out that the SPX was running up along the top of the B.B. with divergence and due for a daily cycle low. The Markets dropped yesterday.
QQQ - The Markets began to sell off . We Also discussed that the General Markets were showing divergence in the RSI & MACD, Due for a dip cycle-wise, and showing a much higher number of new lows than new highs at the top here. A dip is due and seems to be starting here...
Thursday Trading
After a quick review of the markets, we'll look at some of the stock picks in recent reports and a few new thoughts...
Oct 3rd – What’s That Guy So Happy About?
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Maybe he is Long Gold too 🙂
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GOLD - This was a nice break higher and this took place with the USD moving higher an also on the infamous ' Chinese Golden Week'. It was a nice on day pop and I'd like to see some follow through this week.
GDX - Our last report already discussed the GDX : GOLD Ratio, and showed that the Miners have been leading Gold. They kept up with Gold on Tuesday with a nice push higher on strong volume. Since this looks like GDX is coming out of a 1/2 cycle low, it should be able to break right through that 50sma and back test it on a dcl. We'll see.
The Golden Week
Thanks Ray, for reminding me by email that this is the so called Golden Week in China. What is the Golden Week? See the calendar below, and you'll see that China is basically on holiday from Oct 1 - Oct 7th...
Sept 29- The Big Picture Continues to Get Clearer
The picture is getting clearer in the precious metals sector, and we have been on the right track. My Midday Friday report pointed out a few things to take note of, and this weekend report will contain a few more noteworthy points of interest. Let's get into our weekend Big Picture Review.
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Post Fed Rainbow -Where’s That Pot Of Gold?
I was actually on the beach today and a storm started to roll in. We got a beautiful Post Fed Rainbow, but I'm still looking for that Pot Of Gold. Let's do a Post FOMC Market review...
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SPY INTRADAY FED REACTION - We have discussed that the Knee Jerk immediate reaction after the Fed is often a false move. Notice the reaction in the SPY at 2 p.m., as it ran higher, and then the directional change that followed.
SPX DAILY - The MACD confirms that the recent high was weaker, and we are due for a DCL. Watch the 50sma for a break down or support.
