March 6th – Progress
SPX - Day 15 for the SPX and it is making slow progress to come up and either tag or break back above the 50sma.
Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
March 3rd – Where Are All The Bulls?
Almost all of the Markets have become choppy over the past few weeks, so what happened to all of the Bulls? We have found a few Bulls that seem to be moving forward, and I will discuss those in the report. The others may need to be coaxed out of the fields of consolidation, before they can enjoy a nice solid run again. Let's take a look at what happened last week?...
SPX WEEKLY - Here we see that the bounce of the past 2 weeks has curled up the stochastics, so maybe the selling is done, but I have been expecting a test of the lows. Compare last weeks drop to what we saw out of the lows in 2015, the bounce also looks very similar, so ...
SPX - If we are due for a double bottom low, next week could be another down week, as shown here where I drew in an extra candle. This would match the 2015 double bottom lows. Read the chart.
Lets take a look at the flip side.
Friday March 2
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March 1 – Choppiness
The choppiness continues, let's take a look at what we have.
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This is a pre-market snapshot, it contains quite a bit of red so far...
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SPX - The SPX broke below the 50sma & Volume increased, so this needs to be watched carefully. Yesterday I reminded readers of my weekend reports 'lessons' section at the end, it is worth keeping in mind or re-reading. Day 12 peak so far.
Feb 28th – Reminders
Market chop, Pop & Drop. Let's review the markets with an occasional reminder thrown in there too...
SPX - These markets may eventually "get over it" , but so far they seem to have something against the New Fed Chairman. It could be his discussing 3-4 interest rate hike plan for 2018. Read the chart. So far this is a day 11 gap fill above the 50sma, let's look at the NASDAQ...
Feb 27th – Tuesdays Ideas
Since the weekend report, we are seeing what was expected out of the General Markets & Oil, so I am going to get right to a few other areas first, and then I will have a couple of Stock Picks to consider.
Feb 24th Weekend Report
With recent market volatility and a potential V-Type Bottom in place in the General Markets, I wanted to review the current markets, but along with that, I will also have a separate 'lesson' at the end of the report. It will address why it is a set up to play long out of those lows, but it is also prudent to proceed with caution. Why use the trailing stop?
SPX DAILY - Day 9 and the SPX closed above the 50 sma Friday. Many here bought this reversal off of the 200sma when it was mentioned 2 weeks ago, and after stalling for a week in a bull flag, it looks like it may give additional follow through next week.
Friday – Carrying A Lighter Load
As mentioned in yesterdays report, I find that as each day goes by I have taken profits and lightened the load a little bit since buying the reversal low in Miners. I am doing this until the volatility, and thus the short term uncertainty, passes. Let's review the markets again...
SPX REVIEW AGAIN - Feb 6th I pointed out that Markets may drop a-b-c style to the 200 sma, and then flounder around trying to form a base.
NASDAQ - That went for the NASDAQ & DOW too, as seen here...
February 22 – No Straight Path
SPX - REMINDER: 2 weeks ago I showed how the Markets can base build after such a sharp drop & added volatility. I mentioned that they may drop to the 200sma in an A-B-C type drop and then even go sideways. SPX actually did drop to that 200sma after I posted this , so this may be base building. See the next chart...
SPX - So far, the above pattern is playing out. Drop to the 200sma and now we wait and see.
Yay Or Nay? Wednesday Fed Minutes Release
Today is the release of the Fed minutes. At times we get the same reaction that we saw when the Fed Decision was released, and other times we get the opposite, so that is todays question...what will todays Fed Minutes bring? It shouldn't be as bad as THAT guy thinks, but it is worth paying attention if you are rather heavily invested.
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