Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
November 29th – Enjoying The Ride?
Most of my reports have included the words 'Choppy', 'Volatile', and 'difficult', because of the whip saw type directionless action that we have been seeing. Well, The Fed Chairman gave a little speech Wednesday, and the ride continues on. Let's discuss the current Market set ups...
Tuesday Nov 27th
Not a lot has changed from the weekend report, so let's take a look at Mondays action...
.
SPX - After breaking above the 10 sma, SPX was turned down at the 50 sma and revisited the lows. The SPX is oversold and the MACD does have divergence so we are at least getting a bounce on day 19.
From my weekend report, the ICL could be ahead, and if so, any long trade will be capped.
I discussed my thoughts on the General Markets in greater detail last week and in the weekend report, but let's take another look at the NASDAQ.
Nov 24th – Weekend In Review
Let's take a look at our Big Picture layout with the Markets...
.
SPX- The markets dropped toward their ICL, and I mentioned that similar to what we saw in Feb & March, this could now become a choppy market, instead of the 'Buy he dips' that everyone got used to. The ICL could still be ahead, and I will explain why, but if that was the ICL in October, this could just remain choppy putting in a higher low like last April. See the chart.
TRAN - The TRAN actually broke to a new low, below the Feb lows. As mentioned in prior reports, this could become a double top down the road.
Half Day Friday
In the U.S. , the stock market is only open for a 1/2 day, so I wanted to discuss the Precious Metals...
.
Expect Light Holiday Tradin’ ?
One would expect a light volume holiday trading week, but so far many of the charts that I looked at have normal or average volume. Maybe it will lighten up each day, but let's take a look at what trading took place after the weekend report.
.
SPX - The markets have been choppy and instead of that inverse H&S pattern breaking back above the 200 sma again, Monday the Markets dropped.
I used this chart in the weekend report along with the increasingly ugly charts of FB, GOOG, NVDA, and even the IWMs lack of strength, to show the current weakness. I warned again that if we don't see strength soon, we may see an a-b-c drop that looks like this on the General Markets Weekly Charts.
November 17 Weekend Report
As time moves forward, we begin to see the moves that we anticipated in various sectors, as they begin rising out of the recent lows. Let's get updated on our Big Picture expectations...
.
SPX WEEKLY #1 - We see that price has moved to resistance, please read the chart.
What? Huh, Oil? Who said something about Oil?
(Below is a sample of Alex’s works from the past week.) These past few weeks have been extremely frustrating for a lot of traders out there. So many are getting chopped up and setups that look promising one day, fail the next. There is something that many traders don’t want to hear, especially ones just […]
