Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
Thursday July11
I'm thinking that you can probably guess by now what round 2 is, but I'll discuss what Round Two means as we get into our market review. I also have a special little 'lesson' in this report that I know you will enjoy, when we apply it to the Miners...
July 10th – Waiting It Out
On Wednesday, Powell will face the House Financial Services Committee for the first round of questioning from lawmakers. The Fed will also release minutes from its June 19 meeting on Wednesday, and at this point, the Fed funds futures contracts are currently pricing in a 100% chance of at least 25 basis points of cuts.
Now let's look at our markets Pre-Fed Testimony...
Tuesday July 9th
SPX - As time moves forward the SPX still remains healthy looking. It has stalled again, but if it moves higher we will likely see a R.T. Daily cycle, and that would keep things on the bullish side. My weekend report discussed 'break out to new highs' and various ways they play out. For now, if you are long, you are still in the trade, stop at the 1/2 cycle low or raise it to the 10sma if you are more comfortable with that.
Friday July 5th
The U.S. markets were closed from Wednesday afternoon to Friday morning. We now have 1 day left in this week to trade, and I wouldn't be surprised if many are just taking a 4 day weekend, so we may see light trading. Let's do a quick review of where our markets stand currently...
July 3 – Still Running, but only 1/2 day trading in the U.S.
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Yesterday, the theme of my report was "No major Surprises yet", but it looks like I may have spoken too soon. This was GOLD at the close Tuesday. After selling off sharply $24 & breaking below the 10sma on Monday, it put in another sharp reversal and closed back above it. We'll discuss this after taking a look at a few other charts...
July 2nd- No Major Surprises Yet
There were no Major Surprises as the Markets entered July, but I do have a few things to discuss with our current markets, so lets get to the charts...
Friday June 28th – The Bears Are Bored
Today is Friday, the last trading day of the week. So far, the Bears have been a little bored this week when it comes to most of the markets sectors, so let's take a look at our markets...
