Author Archive for: Alex - Chart Freak

About Alex - Chart Freak

I’ve been a full time trader for well over a decade and began trading in the late 1990s while working in management and sales at a well-known aerospace company. As my style evolved, so did my success, and it allowed me to leave corporate America to pursue my passion and trade full time.

Entries by Alex - Chart Freak

Thursday July 20- ENERGY NOW PERKING UP TOO

July 20, 2017 /94 Comments/in Premium /by Alex - Chart Freak

Things are really stacking up for traders and investors now. As mentioned in prior reports, and proven true on a day to day basis, Metals, Energy, Solar stocks, Precious Metals, and more are all signaling good things to come. Let's get right into it...

NASDAQ - The NASDAQ has moved higher for 9 straight days. It even gapped open on Wednesday. We got a 'safer buy signal' on the move out of the lows above the 50sma last week, so...

If you entered TQQQ you are up 11% in 8 days. Not bad for a fairly safer trade.

I do want to mention 1 thing though....

Wednesday July 19

July 19, 2017 /157 Comments/in Premium /by Alex - Chart Freak

SPX - Going long the break out is still working with a loose trailing stop, after this long sideways consolidation. The SPX held the 50sma in the recent drop.

Just Take A Look

July 18, 2017 /197 Comments/in Premium /by Alex - Chart Freak

For more than a month now, following weeks of choppiness and sell offs, I've been pointing out some nice set ups in various sectors. We are now seeing decent trades and some follow through, so today I want to point out an area that I think we all should take a look at...

JULY 16 WEEKEND REPORT

July 16, 2017 /142 Comments/in Premium /by Alex - Chart Freak

SPX - When we gapped up over that trend line ( Again, see April) and held above the 50sma, it was obvious that the bull market remains in tact. The SPX also experienced follow through last week. I'm not saying that we will drop soon, but that last Gap in April was filled at the next dcl as a back test of the break out. If we get more sideways movement than upward , that may be what is happening.

SPX WEEKLY - Bullish, though extremely overbought.

Friday July 14

July 14, 2017 /88 Comments/in Premium /by Alex - Chart Freak

We traded LABU ( XBI, IBB) in June and made some quick gains. I believe that it may be time to go biotech again.

XBI - After a solid run higher from a bullish W pattern consolidation, the XBI & IBB has formed a bull flag. Both broke higher with increasing volume yesterday. This can be bought here with a stop under the bottom of the flag. I want to point out that this Flag MIGHT turn into a longer consolidation pattern too. See the next chart...

XBI JULY 5th - I noticed that some readers were shorting XBI & IBB in early July, so this was my chart from July 5th showing that a bull flag could form, not making it a profitable short. It could run sideways for weeks until the 10ma on a weekly basis catches up. My target has been the former highs around 90 .

Thursday July 13

July 13, 2017 /137 Comments/in Premium /by Alex - Chart Freak

The climb is hardly ever straight up.

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SPX - We were anticipating a trend line break and a close above the 10 sma to help confirm a dcl. We got it. The last time that this happened, the gap filled one month later.

Wed July 12 – Target Practice

July 12, 2017 /153 Comments/in Premium /by Alex - Chart Freak

I've been posting a variety of trade set ups in the past few reports, and we are seeing some nice follow through. Let's take a quick look at a few Market Sectors and then discuss more trade set ups, and current trades in the works.

NASDAQ - The NASDAQ closed above the 50sma and the 10sma and that is a bullish start to a new daily cycle. We do need an overhead trend line break, but I wouldn't wait that long, I would go long on this close above the 10 & 50sma and just keep an eye on it until it gets a bit higher.

SMH - This is a bullish chart. It is ahead of the NASDAQ, because it did break an overhead trend line already. This is a buy here above the 50sma.

WHAT AM I SEEING HERE? THAT’S ODD.

July 11, 2017 /227 Comments/in Premium /by Alex - Chart Freak

This is a long report. I wanted to discuss Gold & them Miners in detail in this report. I have mentioned that I am seeing various interesting things in that sector over the past few weeks, so let's just briefly review the general markets and go right into Precious Metals.

SPX - The actual lows were 6 days ago, and we do not even have a swing low in place yet. I would say that a close above this trendline & the 10sma should signal a dcl occurred, and then one could go long with a stop below that 50sma.

June 9 Weekend Report

July 9, 2017 /160 Comments/in Premium /by Alex - Chart Freak

SPX - From Fridays report, this shows that the SPX could be forming a megaphone pattern as it sat around the 50sma.

SPX - Friday the SPX moved higher off of the 50sma, but has a new daily cycle started 6 days ago?

This is what I would look for going forward...

Friday And The Weekend

July 7, 2017 /160 Comments/in Premium /by Alex - Chart Freak

It is Friday, the last trading day of the week. Jobs numbers will be released, along with the Natgas Inventory numbers. I like to remind 'traders' and 'investors' that today is the last day to be positioned heading into the weekend. I am holding several trades through the weekend, but I have been over 50% cash for a while, waiting for a solid buy set up to form in the Precious Metals sector. Enjoy your weekend!

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SPX - Closing below the 50sma could be a shake out. It was the last 3 times the SPX closed here. Either we sell down into the grips of a deeper ICL sell off, or look for a reversal and a close back above the 10sma ( not just the 50). Jobs numbers could affect the general markets.