After avoiding the stormy waters of the sell off in October through December, we had the hope of a nice rally out of the ICL , and some good trading opportunities presented themselves. I have mentioned the importance of watching how the first daily cycle unfolds, and especially the 2nd daily cycle. Well, we have […]
When a Red Flag shows up on the beach, it means that for some reason, it is unsafe to swim in those waters. Well, after 3 nice weeks of gains in the Oil & Energy sector, I am still seeing a Red Flag in those waters. As mentioned in yesterdays report, Oil itself still looks […]
SPX – Day 17 has us in the middle of a move out of an ICL, and it is overbought. The short term move gets difficult to predict from this point, since it could dip to a 1/2 cycle low and then continue higher, or it may just churn sideways along the 50sma […]
The Big Picture Outlook is based on current information and the formation of current set ups and what they seem to indicate going forward, but they cannot be considered ‘Etched In Stone’. They give us a solid idea of what we may expect in the upcoming weeks or even months, and that helps […]
Let’s take a look at Precious Metals (Below is a sample of Alex’s work from the week) GOLD – I posted this in the comments, just showing how GOLD does not want to sell off, it has formed a triangle so far. GOLD #1 – I have stated in the past that ‘TRIANGLES’ usually mess […]
Today is Friday, the last trading day of the week. It is also “Options Expiration,’ and that can affect pricing and volumes a bit, but so far things continue to play out pretty much as expected, so lets just get into our Friday report… .
SPX – We still have a wedge that has formed. These usually break down, so with the SPX at the 50sma and a wedge, I would think that we may pull back for a few days. That could be a 1/2 cycle low and it is not uncommon…
SPX 1 of 3 – After the pause that we expected under the 50sma, the equity markets actually look ready to break higher already, so I want to show you these 2 charts …
Monday s market action did not change the expectations mentioned in the weekend Big Picture Review, but the trading has been very good and most of the recent buy opportunities continue to play out. Lets do a Tuesday review… . QQQ – We expected this pause and…
This is the weekend report, where we can monitor the progress that the various sectors of the market have made, and what we may expect going forward. Since I give a more detailed day to day update in the daily reports, I often focus mainly on the Big Picture in the weekend reports by using […]
