Entries by Alex - Chart Freak

Feb 5th – The Markets Have Spoken

The markets have spoken.  They have been ripping higher for weeks and they said,  "I need a rest!",  and so we had another scalding drop in the markets on Monday.  We were expecting a drop into a dcl, but it looks more like a drop into an ICL, since we are overdue for a good ICL too.  Let's take a look at Monday activity...

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DJIA MONTHLY-  Recently on this chart I pointed out the accelerate rate that the Markets jumped in 1 month.  That Monthly candle was a lot bigger than the rest,  like panic buying in January.

DJIA-   Now the Dow dropped 666 points on Friday and was down almost 1600 points at one point on Monday, wiping out January & Decembers trading. You can see the benefits of a trailing stop when these markets climb relentlessly.

 

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Feb 3- It’s Melting, But It’s Not Necessarily Ugly

Friday gave us what looked like a Melt Down across the board.  Like the Theme picture,  melting does not necessarily mean that it is time to throw it away.  We may find some good buying opportunities when the selling dries up.  Let's take a look at the Markets...

 

DOW JONES #1 - WEEKLY - I was just pointing out this week that we haven't really seen a 2 day sell off in a long time, but we were due for a DCL ( Sell off).  Well, the Dow dropped 666 points on Friday ( No, I don't ready ANYTHING into  that )  🙂

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January 28th – The Weekend Report

 We rode out some choppiness this week, so the weekend report can act as that  'beacon in the storm' that guides us along.  Let's review our Markets...

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SPX WEEKLY #1 - As expected, the General Markets are accelerating and this weekly chart shows the last 4 weeks as strong green weeks. A trailing stop has been very effective for those riding this 'long'.

 

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Thursday Jan 25

 

SPX - The General Markets continue higher, and the pull backs have hardly been below the 10sma.  This is a doji candle and usually leads to a reversal top, we are due for a deeper drop, but as I have been saying for weeks and months now -   just use a trailing stop and you can stay long in this type of bull run  ( Some are in UPRO, UDOW, etc).

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