Author Archive for: Alex - Chart Freak

The markets continue to run straight up.  Well, maybe not straight up, but like the Theme picture shows, they have been working their way higher and some sectors are at new recent highs.  I want to point out a few things on this run higher, so lets get right into it.  We'll start with the Sox...

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SOX - Take a look at the purple line and that represents a break out after the SOX  briefly lost & regained the 200sma. From there it popped higher and chopped lower, back under the 10sma.  Now it has popped to new recent highs again.

That shows that a bullish run is not always an easy one to ride. Now let's take a look at the SPX...

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Weakness followed by a break down in parts of the General Markets  ( The TRAN & RUT)  was reported here by me over a week ago.  Over time, we gradually saw improvement, so that is what was also reported toward the end of last week and in the weekend report.   These area would need to be monitored continually.   Well,  Monday we saw signs of healing,  so we need to address that as a starting point.

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RUT - On March 22, the Russell 2000 lost the 50 sma and broke below the prior low. This is a bad sign and needed to be monitored.  As this was taking place,  the Transports were showing signs of weakness too, so these areas were to be reported on daily.

TRAN -  The Transports were also breaking down as noted on March 20

TRAN -A week later the Tran stayed below the 50sma, so this is a concern and caution was warranted.

TRAN -  I did point out a bullish possibility,  but until the 50sma is recovered,  I would be staying away from the Transports, and I would remain cautious in the General Markets.

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With the current market set ups, we have seen some choppiness.  I raised my stops and got stopped out of a few positions, and I may just strike that balance between cash & positions until things settle down a bit.  Let's take a look at the markets.

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SPX - The SPX lost the 10sma again and the MACD crossed down, and this would normally look a bit more bearish than bullish . Last week I took a position in the SOXS, but I'm going to show you why I decided to close it for now.

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Today I want to discuss the Precious Metals in more detail.  This weekends report covered it extensively, but I think that a part 2 would be helpful too, so this report is going to be mainly be focusing on the Precious Metals Timing.

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Yesterday I discussed 2 things:

1.  A Post Fed Reaction into the close Wednesday,  that may or may not be just a 'knee-jerk' reaction, and

2.  The next day where you can get follow through or another reaction.  Today I want to take a look at a few sectors and see what we got.  This is Friday,  the last trading day of the week...

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