Entries by Alex - Chart Freak

August 28th – Things Are Popping

August 28, 2018 in /by

A Monday night report should be short, because we've only had one day since the weekend report, but Monday was a very active market. This report will be longer than the usual Monday report.

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Review SPX August 21st -  This was last week, and we saw the SPX meet up with 2 resistance points.

SPX WEEKLY Aug 24th -  So for the weekend report, I drew that same resistance here. It could climb along the upper magenta line, but would need to break the blue line first...

 

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August 25th – Do The Weekend Swing Dance

August 25, 2018 in /by

Friday seemed like some sort of an  anti-gravity day, with most sectors climbing nicely higher.  We even had Swing Lows enter the dance floor, so let's take a look at our current market set ups...

 

RUSSELL 2000 -  We looked at IWM and TNA earlier this week as buy signals, and we have follow through. Raise stops and see if they continue higher ...

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Friday Aug 24th

August 24, 2018 in /by

Welcome to the last trading day of the week...

 

USD-   This is a copy/ paste from yesterdays report, expecting a USD DCL.

 

 

 

UUP  ( USD) -  It looks like the DCL may have formed. I mentioned yesterday

 

Now let's discuss Gold...

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August 22 – FOMC Minutes

August 22, 2018 in /by

The release of the FOMC Minutes from the last Fed Meeting is scheduled to be released today. At times, this can cause a reaction in the markets, if the verbiage or language that was used seems more Hawkish or Dovish than originally interpreted.   For example, if they were to mention a concern pertaining to inflation rising faster than expected, that could affect certain sectors, so we just want to be mindful that the markets could move unexpectedly around 2 P.M. Eastern.

 

 

 

SPX #1 - Right where the SPX was about to break to new highs, it sold off a bit.

 

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Tuesday August 21 – Is It Possible?

August 21, 2018 in /by

Sometimes what seems to be impossible  actually becomes possible, but a man rides in to town on Tuesday and leaves 2 days later on Tuesday?  If that is possible,  then I guess it is possible that Gold may have bottomed too.   Oh, and by the way,  his horse was named Tuesday.  Let's review our markets...

 

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WEEKEND – REST AND RELATION

August 18, 2018 in /by

I hope that everyone can just enjoy some rest and relation this week, after last weeks market action.  We also may want to rest up,  because next week looks to be setting up to be interesting at this point...

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General Markets were a bit Mixed, and remain that way

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SPX -  I've been expecting a drop into a dcl. The DJIA and NASDAQ looked to be dropping, and so did the SPX,  but with a Wednesday reversal, it has moved higher.  AT THIS POINT, I don't think that this is enough to be a dcl, but I shouldn't rule it out completely.   Lets look at ...

 

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HORRIFYING! … Or…???

August 17, 2018 in /by

You are likely hearing the same thing that I am...

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 - "There is something incredibly wrong here, Miners have sold off before, but never like this!"

 

 - "We have NEVER seen a drop like this in Miners, GDX will be in the single digits next week!"

 

 - " This is much worse that 2008"

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It is even possible that this kind of fear and panic can affect how you feel about what you see.  Yes, the sell off in the Precious Metals is steep, and it is the talk of the town.  This week the drop in Miners  has been extreme, as you will see, but is it really the worst drop ever?  Does it automatically make Miners destined for the grave?   I want to address this in light of these statements above first, and then I will still cover the General Markets, so let's begin...

 

 

GDX - GDX closed down 2.37%, and the last couple of days have been crash mode, no doubt about it. I mentioned in yesterdays report that the volume looks like capitulation. This is a very sharp drop, however...

Now let me show you something that you may find interesting.  It might even blow your mind ...

 

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When?

August 15, 2018 in /by

The markets still look a bit mixed, and I am expecting a dip into a dcl, so let's start by taking a look at the current set ups.

 

DJIA - I am expecting a dip into a daily cycle low  and the DJIA  appears to have a bearish rising wedge forming.  There is room in the apex for another pop, but it should break down from here, since we are due for a dcl.  Again, the DJIA is only  1/2 way to the Jan highs.  After a decent run out of the last DCL, it has been a bit choppy.

 

It looks like we are back to Mixed Markets, some sectors stronger than others, but since I am expecting a drop into a DCL, I would be fairly cautious in all areas short term.

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