Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
Dec 1st weekend Report
Is it a Trade War that will continue as time moves forward, or will there be an agreement of terms that both sides can live with? All eyes seem to be on the G20 meeting this weekend for the answer to that question, since it already seems to be having implications on how these markets trade going forward. Just like any war, trade wars often have casualties along the way, and these markets have been very choppy lately.
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EDIT: This just in... (Bloomberg) -- Stock markets will close Wednesday for a national day of mourning to honor former President George H.W. Bush.
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Let's review the various Market Sectors to look at The Big Picture and see how they traded this past week...
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SPX - This is what I was watching for, and then a break to a lower low to the ICL, or if the ICL is in place from October, a higher low may happen on the next drop.
#1 - Nov 27 I drew this - A run to the 50sma/ 200 sma, and a possible drop to a lower low.
#2 Or was an OCT ICL is in place? A break higher after the G20 meeting results, and then a drop to a higher low. EITHER WAY, these markets can remain choppy & difficult.
We are here now
SPX - I expected the bounce to this area, and then we need to watch price action at the resistance. It just happens to fall at the timing for the G20 meeting.
Lets continue...
Let Me Show You Something about Gold (& the Miners)
LET ME SHOW YOU SOMETHING ABOUT GOLD (Below is a sample of Alex’s work from the week. ) . 1. GOLD MONDAY – Above the 50sma, it looked hopeful and Bullish on Monday, even though this was the start of the 3rd daily cycle. 2. GOLD TUESDAY – This was Gold closing under the […]
Friday November 30th
With a strong knee jerk reaction on Wednesday, we got to see what a little friendly talk about interest rate hikes could do to the markets. Next on the table is the G20 meeting, and center stage is this...
November 29th – Enjoying The Ride?
Most of my reports have included the words 'Choppy', 'Volatile', and 'difficult', because of the whip saw type directionless action that we have been seeing. Well, The Fed Chairman gave a little speech Wednesday, and the ride continues on. Let's discuss the current Market set ups...
Tuesday Nov 27th
Not a lot has changed from the weekend report, so let's take a look at Mondays action...
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SPX - After breaking above the 10 sma, SPX was turned down at the 50 sma and revisited the lows. The SPX is oversold and the MACD does have divergence so we are at least getting a bounce on day 19.
From my weekend report, the ICL could be ahead, and if so, any long trade will be capped.
I discussed my thoughts on the General Markets in greater detail last week and in the weekend report, but let's take another look at the NASDAQ.
Nov 24th – Weekend In Review
Let's take a look at our Big Picture layout with the Markets...
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SPX- The markets dropped toward their ICL, and I mentioned that similar to what we saw in Feb & March, this could now become a choppy market, instead of the 'Buy he dips' that everyone got used to. The ICL could still be ahead, and I will explain why, but if that was the ICL in October, this could just remain choppy putting in a higher low like last April. See the chart.
TRAN - The TRAN actually broke to a new low, below the Feb lows. As mentioned in prior reports, this could become a double top down the road.
Half Day Friday
In the U.S. , the stock market is only open for a 1/2 day, so I wanted to discuss the Precious Metals...
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