May 26th Weekend Report
We have really been focusing on whats going on in the Precious Metals Sector lately, so with that in mind, I am releasing this weekends Premium Weekend Report to the public, enjoy!
.
Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
May 26th Weekend Report
SPX - We discussed the break out from the down trend / triangle as bullish 2 weeks ago, but we really need some upside to increase the big picture bullishness. An ICL in Feb formed and I'd like to see new highs within this intermediate cycle. This is currently a bullish set up, as discussed in the weekday reports.
Thursday May 24th
SPX #1 - We saw the break out & Bull flag. This was Bullish.
SPX #2 - Here I mentioned the GAP open, and the gap may need to fill first...
SPX #3 - Now we got our gap fill and then a reversal higher after the FOMC Minutes release, so ...
WEDNESDAY MAY 23rd – Hump Day
REVIEW: SPX looked like a Bull Flag Last Friday, I expected a break higher.
After that break higher, This is copy pasted from yesterdays report. We should expect a possible gap fill. Markets could 'stall' to fill that gap.
SPX - The markets did move higher in the morning and then closed down, partially filling the gap. I am seeing short term weakness in some of my other indicators (Not shown), so I'm wondering if this is going to tag that 50sma again? The weakness at this point is nothing too serious and a push higher will help turn those back upward.
Tuesday May 22nd
Mondays Markets...
SPX MAY 18th - Last week I mentioned that we had a bull flag forming on the 10sma, so it should break higher...
SPX - The General markets did break higher, but they gapped open. Toward the end of the day, they started to sell off, but they still didn't close those gaps. The gaps could fill, however...
MAY 19 WEEKEND REPORT – REST UP
Rest up this weekend, and we'll review the markets and the action that we can expect as things move forward. I'm really loving the way the Precious Metals markets are setting up for example, so far very much as expected. Lets just get right into it and take a look at our markets...
FRIDAY MAY 19th
It is Friday, the last trading day of the week, so let's review a couple of points of interest in the Markets, and then discuss a few more stock picks.
USD - The USD is heading toward resistance, but it can continue a bit higher. I will discuss this further in the weekend report.
Thursday May 17
NASDAQ - I mentioned months ago that it looked like we could be starting a consolidation period ( or a topping process) in the General Markets. You can see that we are doing just that. I also mentioned that it is possible that individual stocks may do well, so we will briefly discuss some individual stocks later in the report. Also if this, over time, breaks out to new highs, it would be very bullish.
