Entries by Alex - Chart Freak

Tuesday July 31st – The Triggerfish

July 31, 2018 in /by

In anticipation of a change in the way a market sector is moving, we sometimes start looking for a possible catalyst or a trigger that will cause that change in direction.

 

NASDAQ - The NASDAQ  was strong and moved to new highs.  Everyone was really bullish, but I was expecting a drop.  The Trigger seems to have been 'earnings'.  We saw FB, NFLX, TWTR among others disappoint, and even though AMZN and GOOG blew away their forecast estimate, it was not enough to prevent the drop that we are now seeing.  Friday and Monday took back 3 weeks of gains. We could get a 1/2 cycle low bounce here, but we may not.

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Pick An Emoji

July 26, 2018 in /by

Talk about a love / hate relationship and you're talking about being a disappointment during earnings.  They love you when you perform well, but it's a different emotion when your earnings 'miss'.

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Facebook released earnings on Wednesday night, and it was set to open about $50 lower.  We'll just have to wait and see how things shake out during the regular markets hours, but this is where it would open at this rate.  Talk about "filling that gap at $170"!

 

On to the markets...

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Golden Surprise

July 25, 2018 in /by

GOLD DAILY – Gold put in a reversal on Friday. Look at the steep drop of the last 3-4 weeks, but my propitiatory indicators are not dropping. That is BULLISH, we should be at or close to the lows.

Beautiful At The Top

July 25, 2018 in /by

I am not saying that we are at THE TOP, but I have been saying that we could be due for A top. One thing that I have found to be true when trading the markets is this:  It is always Doom & Gloom right before a bottom is in place, and Everything is Beautiful when we are at or near a  top.  Right now the buzz is all about bullish earnings, and how you need to be buying the stock market bull run.  Well, we were buying at a dcl 3 weeks ago, but now?  I discussed my thoughts on Googles  earnings yesterday, so lets look at the charts and see what they are telling us...

 

I'm going to start with GOOG, because all the buzz on Twitter and in trading forums Monday was how it shot up $70 after hrs on Monday, and now GOOG & the NASDAQ would just blast off higher.  People were saying that you need to just  "buy this Bull Market".   I wrote last week and in Monday nights report a bit of a different take on things, including Googles $60 Gap after hrs...

 

GOOG -  I used this chart to show that it GAPPED OPEN last October after a long sideways chop, and then it just stalled, went sideways for weeks, and drifted down to fill the gap over a month later. It didn't start a giant rally then, and may not this time due to the 'timing' of things.

GOOG -  Tuesday,  Yes  Google gapped up but it formed a Black topping candle.  Black candles at the top of a move usually exhaust or end the move.   I think that GOOGLE is going to stall and drift or drop soon.

Now let's look at the rest of the markets...

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Monday Review

July 24, 2018 in /by

Google

...had their earnings release and it Popped $50 to $80 after hrs

 

GOOGLE -  This was GOOGLE  ( Alphabet) at the close.  Notice that it has formed a long choppy consolidation all year long.  With the earnings release,  a  break out could happen Tuesday.

So I Caught the POP after hours on this chart.  It is a 6% break out if it holds overnight, but tomorrow on your charts, it will be a GAP OPEN.

 

There are a few things that I wanted to point out with GOOGLES earnings and the affect on the NASDAQ...

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Go Ahead – Make My Day

July 23, 2018 in /by

Lets review the markets , and then I will discuss the purpose of the Theme Pic

 

 

SPX- I have been saying since the DCL that one should let their long positions ride, use stops that should be raised along the way, and I would assess things as we get to day 15...

 

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