Author Archive for: Alex - Chart Freak

Welcome to another Fed Wednesday. Let's review what took place on Tuesday, and then discuss what may take place after the Fed Decision (which is pretty much already baked in).

DJIA - Finally, 2 down days in a row and a close under the 10sma. The DOW has started a drop into a daily cycle low.

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 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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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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SPX   - I believe this is day 44 of this daily cycle. It looked like a bull flag going into the weekend, and it did break upward, but it is late in that daily cycle.  I  would expect a small pull back soon. These are very bullish markets.

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I want to do a quick market review, and then I have some very interesting charts of Gold & The Miners pertaining to the situation that we find ourselves in currently.  I want to use this Friday report to further prepare us for what is coming in the Precious Metals Sector...

SPX - Day 42 is late for a daily cycle and I expect a pull back eventually, but these markets are very strong.  Last weekends report pointed out that the 'weekly charts' looked to be heading into a parabolic run, and this week may close at highs again!   'Longs' just continue to take advantage of this never ending gift with a trailing stop 🙂

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