Author Archive for: Alex - Chart Freak

About Alex - Chart Freak

I’ve been a full time trader for well over a decade and began trading in the late 1990s while working in management and sales at a well-known aerospace company. As my style evolved, so did my success, and it allowed me to leave corporate America to pursue my passion and trade full time.

Entries by Alex - Chart Freak

Friday Jan 11th

January 11, 2019 in Premium /by Alex - Chart Freak

Today is Friday, the last day of trading for the week. It really has been a great couple of weeks of trading , so let's discuss a few things...

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This was in yesterdays report...

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QQQ – I am also starting to see what look like rising wedges in The Nasdaq. This can push higher, but keep an eye on it. These can be short term bearish, and often break down, an example of this was seen last February and April.

QQQ - The QQQ tagged the 50ssma and the wedge remains in view. Read the chart.

Thursday – Decisions And Risk Reward

January 10, 2019 in Premium /by Alex - Chart Freak

As was mentioned in yesterdays report, a variety of the markets sectors have been climbing higher and trading has been excellent. Let's examine our current markets...

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This was in yesterdays report-

SPX #1 – If this is an ICL, we should have a month or two off of the lows, but we are seeing price enter ‘resistance’ areas. It CAN push higher, but we are nearing an area that may offer resistance and stall price too. The markets have been straight up, but going forward they may get choppy.

Wednesday Jan 9th- The Climbing Wall

January 9, 2019 in Premium /by Alex - Chart Freak

As the various sectors bounce out of their recent lows, they continue to do pretty good on the Climbing Wall. Some may be climbing the so called 'Wall of worry'. Let's take a look at the progress...

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SPX #1 - If this is an ICL, we should have a month or two off of the lows, but we are seeing price enter 'resistance' areas. It CAN push higher, but we are nearing an area that may offer resistance and stall price too.

January 8th – Mondays Pops

January 8, 2019 in Premium /by Alex - Chart Freak

In The last quarter of 2018, various areas of the markets began drying up and going stale. We saw the equity markets & Oil crashing down and many good set ups that would form would quickly fall apart. Trades in Miners and some of the Medical Marijuana companies were playing out ok, but there was definitely a choppy vibe in the GDX & GDXJ area too, into December.

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Suddenly, we have seen bottoms develop (temporary or longer term bottom remains to be seen), and along with these bottoms are set ups that are finally working out, and many are working out very well. Let's take a look at Mondays action...

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REMINDER: At the end of December, IN MY REPORT, I mentioned that this reversal candle on day 39, was a buy in technical analysis, with a stop under that days lows. If an ICL is in place (Day 1) , those lows will not be broken for weeks. So far, this is playing out well. You can see that I said that " This is a BUY" in that December report.

Weekend Report- Things Gradually Change

January 5, 2019 in Premium /by Alex - Chart Freak

We have all seen changes take place in various places during our lifetime. The Theme picture highlights how things have changed from your parents day to today, or maybe even your youth to today. Changes can be gradual or sudden, and in the markets we have seen both gradual changes in character to sudden sharp change in market direction and sentiment. Bull to Bear and Bearish to Bullish. As we review our Big Picture of the Markets, we can keep the idea of those types of 'Changes' in mind.

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The 600 Point drop in the DJIA Thursday did not concern me. We caught the lows and I posted this after Thursdays trading...

SPX DAILY - We caught the lows with Decembers reversal and day 6 flipped higher off of the trend line & had nice follow through. I WOULD SAY THAT YOU CAN NOW RAISE STOPS TO THURSDAYS LOWS TO BE SAFE. The blue line resistance can be broken, I just drew it to show where we may stall.

Fridays Friendly Reminder

January 4, 2019 in Premium /by Alex - Chart Freak

After a quick market review, Todays report will include a long section reminding us about a recent discussion that we had.

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DJIA - The DOW dropped over 600 points on Thursday, but the chart does not show 'damage ' at this point, though it did drop under the 10sma. It is a trend line back test so far.

Jan 3rd 2019 – Catching The Bounce

January 3, 2019 in Premium /by Alex - Chart Freak

QQQ - Markets gapped down Wednesday, but reversed higher as the day went on. We have expected an ICL, and these lows should hold for a while, but it also may be choppy.

Wednesday Jan 2, 2019

January 2, 2019 in Premium /by Alex - Chart Freak

I imagine that with this opening theme picture, you may think that I am going to start by discussing the burning Hemp Legalization topic or something? Well, actually, this report is going to focus on just one thing, and that is The Precious Metals Sector.

Dec 29th – The Weekend Check Up

December 29, 2018 in Premium /by Alex - Chart Freak

I would venture to say that by now, after the past several weeks of choppiness and selling off, most if not all here know my thoughts on how things could play out going forward. It does seem that things are lining up now. let's let the charts speak for themselves. Let's get right into it...

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SPX - On Dec 24th, I gave several reasons that this should be the ICL that I have been expecting. I mentioned the PUT / CALL Ratio, Sentiment, etc, so a reversal here is a buy with a stop under the lows...

SPX - Capitulation volume came in on day 38, and that is good timing for a DCL/ ICL. The 3 day bounce is not even near 'Overbought".

This is where it gets important...

Friday December 28th- The Bounces

December 28, 2018 in Premium /by Alex - Chart Freak

DJIA - We had our 1000+ Point bounce

I had been discussing the Fib Retracement , sentiment, timing for an ICL, Put Call ratios, etc, so we knew that we were due

DJIA - I mentioned that it could be choppy or V-Bottom, but the lows should hold, so you can buy the reversal or buy it if it dips, with a stop under the new lows.

DJIA - The Dow dropped 600 points, and recovered by the close. So...