Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
July 10th – Tuesdays Ideas
What happened Mondayand what to expect Tuesday...
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SPX - July 5th we seemed to have our dcl in place, day 4. I mentioned that it could be L.T., but a daily cycle could peak at day 15 and still be L.T., so ride it with a stop.
SPX - And it is heading for the upper trend line.
Don’t Get Left Behind
The Theme picture here speaks a thousand words. At Chartfreak, we've covered plenty of bullish set ups in the General Markets like TWTR, SQ, AMD, CREE, CY, TQQQ, SOXL, etc. over the past few months, but in addition to that, I have recently been very focused on the current set up in the Precious Metals Sector. For the public, I want to share what we have been doing with that here.
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We have been tracking Gold, Silver, and especially Miners with focus for the past couple of Months. I have been expecting a deep sell off into a Cycle Low that will lead into an excellent buying opportunity. Interestingly, even though I have expected a deep sell off into that ICL (Intermediate Cycle Low), I started recommending buying at least some Miners weeks ago, because something interesting was taking place. Unlike the prior bear market sell offs, where Miners crashed down as Gold sold off, I noticed several Miners appeared to very strong. They seemed to be under accumulation, despite Golds sell off.
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Take a look at KL for example. New 2018 highs occurred while Gold was selling off over the past few weeks. In fact, it has almost doubled in 2018.
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Did you notice GORO? I have been pointing this kind strength out for Months now, but many are still afraid of this sector. This sell off in Gold has fooled many into believing that "Gold is dropping and Miners are dangerous." I got emails to that affect, but charts do not lie and my daily reports have been sharing many bullish factors that go unnoticed at times.
So I've decided to show portions of my last 2 weekend reports combined together here for the Public to take advantage of.
JULY 8TH WEEKEND REPORT
I know by now you know how I feel about the Precious Metals Sector, but maybe the Theme Pic will help to clear up any doubt at a glace. 🙂 We will discuss all of the Market Sectors, but the main focus is still on Precious Metals.
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THIS IS A CHART OF THE SPX FROM FRIDAYS REPORT- The 'but' part was simply that I am expecting a L.T. daily cycle after a rally, so I keep that in the back of my mind...
SPX WEEKLY- And we have a weekly reversal that should have follow through higher too. The RSI held the 50% line too, so it is a bullish set up here at this point.
JULY 6TH- FRIDAY
It is the final trading day of the week, so this report will just be a quick summary and will also include a few trade ideas
SPX - I think that we have a dcl. In tech analysis, you would expect a possible run to the upper trend line, but...
Thursday July 5th
SPX - The General Markets gapped higher on Tuesday and the rolled over again. The 10sma is rejecting price, so we still do not have a confirmed DCL, but we are due for one and we do have a swing low unconfirmed.
July 3rd – 1/2 day Of Trading
As I sat on the plane returning from my trip yesterday, I thought of the Chartfreak Readers while having a beverage & some Crackers 🙂 I noticed that Gold was selling off, but Miners seemed to be holding up fairly well, and I wondered if that would continue through out the rest of the day.
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We'll discuss Precious Metals after a quick review of the markets and a friendly reminder that TODAYS TRADING CLOSES AT 1 P.M. IN THE U.S.
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