Entries by Alex - Chart Freak

August 17th Weekend Report – Perspectives

August 17, 2019 in /by

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When stocks run steadily higher, they can get a bit extended or maybe sentiment even gets a bit euphoric. A healthy market then starts to enter a period of consolidation or begins to pull back and digest those gains. I think that is what we are seeing currently in the Precious Metals Sector, but is that also what we are seeing in the General Markets?  Let's discuss our current Market set up...

 

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Thursday August 15th – Be Careful Where You Step Out There

August 15, 2019 in /by

Recently I have been pointing out various areas where divergence seemed to be sending out a warning. Wednesdays trading got pretty ugly by the end of the day, so let's see how everything was affected...

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NASDAQ DAILY  - We have been trading the Miners more than anything else, but for those that take positions in the General markets, this reversal at the Red Arrow could be bought for those wanting to go long.  I also said that it would need a stop, and the stop should be Raised as price moved higher, due to the wide open MACD gap.  The Nasdaq was rejected at the 50sma,  and ...

 

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Tuesday August 6th –

August 6, 2019 in /by

 There were many smiling faces on Monday when Gold, Silver, and the Miners took off  again ( maybe only until they looked at their IRA, though).  On Monday, the SPX, DOW, and NASDAQ  took a dive. The DOW was down almost 1000 points at one point, The NASDAQ was almost down 350 at one point, and the 50 sma, which I though might at least hold as a short term support,  was sliced through rather easily.

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 The first 2 charts below are from this past weekends report, highlighting internal weakness, and then we'll cover the markets with a special section about the Miners.

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SPX WEEKLY –  This chart is a sign of weakness at the top. The Markets dropped Post Fed and remained near the lows Friday, the Miners recovered. This may be the start of the big picture trend going forward for the end of 2019.  Markets lower / Miners higher.

 

NASDAQ WEEKLY – The NASDAQ has the same weakness showing up now.

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