Author Archive for: Alex - Chart Freak

NASDAQ - I mentioned months ago that it looked like we could be starting a consolidation period  ( or a topping process) in the General Markets.   You can see that we are doing just that.  I also mentioned that it is possible that individual stocks may do well, so we will briefly discuss some individual stocks later in the report.  Also if this, over time,  breaks out to new highs, it would be very bullish.

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Yesterdays report was entitled  "Cross That Line", and the markets did just that!  They crossed the lines that we were looking at,  so I figured that it wouldn't hurt to name Fridays report, "How about some Friday follow through", to see if they would accommodate again.

Let's take a look at how accommodating  the market action was yesterday...

SPX - SPX crossed the line, breaking the down trend.

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We had a lot of movement in the markets on Tuesday, but we did not get the move that we were looking for.  What was that?...

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Usually for the weekend report, I like to take a step back and see the Big Picture, but for this weeks report we will have several daily charts too.  This will help us to focus on what to expect in the short term as well as keeping the longer term Big Picture in view.

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