September 5th- What Is Going On?
The theme picture that I drew up speaks for itself. I will address that after a market review...
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Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
Friday August 31 –
SPX - The SPX broke out above the upper trend line, but dropped back down on Thursday. We see a gap & the 10sma below, these could be initial targets, so let's see how things play out.
AUGUST 29th – Here Again
1. Last Night I mentioned to my readers that I was seeing a drop in Gold coming. Gold was at $1212, and I posted this chart saying that we could see a drop to $1200. That is not a big deal, but we are waiting for a short cover rally, so apparently we had to 'expect delays'...
2. The drop started here, and I posted this in the comments section. Again, not a big scary concern, just Expect delays..
Let's talk about Gold $1200
August 28th – Things Are Popping
A Monday night report should be short, because we've only had one day since the weekend report, but Monday was a very active market. This report will be longer than the usual Monday report.
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Review SPX August 21st - This was last week, and we saw the SPX meet up with 2 resistance points.
SPX WEEKLY Aug 24th - So for the weekend report, I drew that same resistance here. It could climb along the upper magenta line, but would need to break the blue line first...
August 25th – Do The Weekend Swing Dance
Friday seemed like some sort of an anti-gravity day, with most sectors climbing nicely higher. We even had Swing Lows enter the dance floor, so let's take a look at our current market set ups...
RUSSELL 2000 - We looked at IWM and TNA earlier this week as buy signals, and we have follow through. Raise stops and see if they continue higher ...
Friday Aug 24th
Welcome to the last trading day of the week...
USD- This is a copy/ paste from yesterdays report, expecting a USD DCL.
UUP ( USD) - It looks like the DCL may have formed. I mentioned yesterday
Now let's discuss Gold...
August 23rd – Chart Set Ups
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I will have many trade ideas at the end of this report.
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TNA - I mentioned that The Russell 2000 ( RUT, IWM, and you can use the TNA) Looked bullish, and this was the break out. It was and is a buy.
August 22 – FOMC Minutes
The release of the FOMC Minutes from the last Fed Meeting is scheduled to be released today. At times, this can cause a reaction in the markets, if the verbiage or language that was used seems more Hawkish or Dovish than originally interpreted. For example, if they were to mention a concern pertaining to inflation rising faster than expected, that could affect certain sectors, so we just want to be mindful that the markets could move unexpectedly around 2 P.M. Eastern.
SPX #1 - Right where the SPX was about to break to new highs, it sold off a bit.
