Entries by Alex - Chart Freak

Wednesday August 28th

August 28, 2019 in /by

We are invested in the Bull Market of the Precious Metals Sector, and even though the weekly charts are looking a bit extended, we keep seeing surprises to the Upside, as upside targets continue to get hit. I did mention in the weekend report that this could be an up week for the Miners,  so let's take a look at the Market action ...

 

I'm not going to spend a lot of time on other sectors, there has been no important change. As a quick review...

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SPX - No change, and this recent trading range could be a back test, held back by the 50sma.

 

 

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Tuesday August 27th

August 27, 2019 in /by

If you were watching the 'Futures' on Sunday night, then you know what kind of price action & volatility the markets experienced.  If, on the other hand,  you simply look at the charts after the close on Monday,  you wouldn't really notice anything out of the ordinary.  Let's take a look at what is happening with our various Market Sectors...

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August 24th Weekend Report

August 24, 2019 in /by

After a very choppy sideways start to the week, the FOMC Minutes release on Wednesday was a non-event, but when we  reached Friday and the Jackson Hole speech was delivered, it looks as though we finally have our 'directional' trades revealing themselves.  The China trade wars and the Jackson Hole speech did seem to shake things up a bit.  I usually mainly discuss the Big Picture in the weekend report, but this report will contain some short term possibilities with daily charts & The Bigger Picture.

 

 

SPX DAILY - That was a big drop with heavy volume Friday  and this is only day 14!   We have plenty of time for this to really sell off.  The General Markets closed below the 10 sma, and this definitely looks like we will revisit the June lows short term, and possibly experience an even deeper drop & break down.  The Big Picture shows a possible large drop too...

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SPX WEEKLY - LAST WEEK I showed you tthis break down and possibly 'just a back test'  during this chop, and now it looks to be breaking down further...

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SPX WEEKLY - In the past, I  have also  pointed out this possible Bullhorn or magaphone in the Bigger Picture, and the idea is still valid. This has been warning that we could have  a deeper sell off at anytime, rather than  'New highs & Blue skies' at the '5' area, as many used to think.

 

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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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