Thursday March 22
At times, subtle changes can lead to bigger changes. Yesterday some of the 'subtle' changes that I had mentioned in recent reports suddenly look a lot more important. Let's discuss some FED DAY changes that may have taken place...
Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
Well Fed
Well, its our first Fed Decision with the new chairman Jerome Powell. One has to wonder if the Markets are going to be jittery, the way they did the first 2 times that he spoke, or will they rally on the news? He was sworn in on Monday Feb 5th, and the week leading up to his being sworn in, the markets crashed. On Feb 27, when he testified before congress, maybe it was just a coincidence, but the Markets did not seem to like it at all and dropped too. Let's take a look...
You can see on the chart that on the week leading up to Feb 5th, the markets crashed down. Then, as shown in this headline, when he testified before Congress on Feb 27th, Markets sold off then too.
DJIA - On the week leading up to Powell being sworn in, The markets crashed. Then FEB 27th started a 4 day sell off after he gave what that headline called ' A cheery note on the economy' 🙂
Tuesday March 20th
We are approaching the first FOMC MTG with the new Fed Chairman. So far, whenever he has spoken to Congress, the markets sold off. The deep mini-crash in February was actually the first time that he spoke to congress. So is Mondays sharp sell off a taste of things to come? Or is this just a little shake, rattle, and roll until after the FOMC decision? Let's take a look at the action...
DJIA WEEKLY - I used this chart in the weekend report ( this weekend and a week ago), I mentioned that things were not exactly looking all bullish. I used my own indicators to show you internal weakness.
March 17th Weekend Report
This opening picture describes how the General Markets shot up, especially into the end of last year. With little else than a volatility pop here and there, they just kept climbing. Well, in the weekend report, I like to take a step back and look at that Bigger Picture. At times things stand out from a distance that I may not see when I am focused on taking the ride using daily charts. Let's take a look...
Stuck In The Middle
Let's discuss where we are again, and what one may need to think about going forward.
Thursday March 15th
After the recent selling or pause ( 3 days in the SPX & DJIA, 2 days in the NASDAQ or SOX), it would seem unlikely that anyone has been stopped out. I want to take a look at where we are cycle wise and discuss possibilities going forward, based on a comment that I made in the report yesterday.
Sharp Reversals
Tuesday brought us some sharp reversals in the markets. Let's take a look and discuss the short term as well as the longer term.
March11th – Weekend Wrap Up
If you have clocks that are not automatically calibrated ( Cell Phones and Computer clocks are, microwave oven clocks and wrist watches may not for example), You want to turn your clocks ahead 1 hour this morning 🙂
SPX - The expectation on a possible a-b + c-d extension is shown in green. The pull back into a dcl and further upward gains is a possible cup & handle, but this is just one idea going forward.
This would follow what we have already seen with SOX & NASDAQ
FRIDAY March 9th
Friday, the final day of trading before the weekend.
SPX - So far the SPX has not been able to push above the 50sma yet. A day 11 peak would not be a good sign for the General Markets, but I do think that this should be able to get above day 11, because...
