Entries by Alex - Chart Freak

May 10th – Changes

May 10, 2017 /82 Comments/in /by

We do see some changes occurring in the markets, so let's discuss them.  They may be just temporary or they could last for a little while, so we will discuss that too.

 

 

SPX - This was an engulfing candle, but they bought it back toward the end of the day. Could this be the start of the dip into a dcl?

IWM -  I like to use the Russell 2000 and the NYA to get a better picture of the general markets. We see the 2 gaps have already filled here, but the stochastics is still not oversold and therefore more downside is possible.

NASDAQ - The NASDAQ , which has been very strong, also seems to have put in a topping candle, so we could see some selling in the markets going forward.

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MAY 6th Weekend Report

May 7, 2017 /50 Comments/in /by

Keeping in mind that we have the French Elections on Sunday and the results can cause a short term reaction, let's review the market action from last week and our current expectations.

 

SPX WEEKLY - The SPX finally broke to new highs last week ( We know that the Nasdaq has been running like a bull).

 

SPX -  The SPX will be due to drop down into its own ICL soon. In the past the 200ma has been rather reliable as a support.  Since the 200 is rising, maybe the SPX will see 2300?  As you can see from previous drops down into an icl, a drop like that can take a few weeks once it starts to roll over.  "Sell in May and go away?"

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Fed Follow Up Report

May 4, 2017 /129 Comments/in /by

Honestly, there was  little permanent reaction when the Fed decision was made known, but we can't say that a lot changed.  Expectations remain the same, so lets review these markets....

 

SPX - This was in yesterdays report, please read the chart.  Also the signs of improvement in the XLF continued.

 

DJIA - I expected a dip, but this reversal after the Fed may have follow through upside. This consolidation could be forming an inverse H&S.

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Tuesday May 2nd

May 2, 2017 /76 Comments/in /by

I wasn't really expecting a whole lot of change in the various markets sectors on Monday, Tuesday, and even Wednesday morning, but we do have the FOMC Decision at 2 p.m.  Wednesday afternoon, and that may cause some 'changes'. Let's discuss the precious metals markets.

 

GOLD - We've been waiting for and expecting this drop, so that is nothing new. The stochastics isn't even oversold, so selling can continue Tuesday & Wednesday too.

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“Where Have You Been?”

May 1, 2017 in /by

I received a couple of emails recently from the public readers ( one was an old friend, Thanks Bob C. !) , either asking where have I been when it comes to my public posts, or asking me to review what I have been seeing lately. I've been very busy this spring with the premium reports and a private chat area that we have in there, plus other outdoor activities and responsibilities that I care for every spring, but as for a review? I  would be happy to do that. 🙂

 

The General Markets became choppy in March and I was expecting a drop into a daily cycle low. I estimated that the 50sma would be a good target.

For over a month things were choppy and difficult to trade really, until we got a directional break. The drop was not as sharp as I had imagined,  so some of the trades that I was taking were working out, but others lacked follow through, got choppy,  and stopped me out.  I admit that this was choppy and a difficult environment to trade in.

 

From April 25 - Currently we see a pattern of consolidation and then moves higher ( With pullbacks along the way).  We do have a FOMC MTG this week, and there is a chance that that may cause the markets to dip into a low

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April 29th – Sounds Like A Plan

April 30, 2017 /116 Comments/in /by

Another week has come and gone and the markets have moved closer to the FOMC meeting and other events that can affect the markets. Let's discuss the latest market action and what the plan is going forward.

 

SPX - This looks like Day24 for this daily cycle and it has a Day 21 peak. We see a swing high in place and this can drop into a dcl.  I am expecting some gaps to fill and likely a back test of support and the 50sma into the FOMC MTG Wednesday.

NYA - This looks like a back test so far too, but we possibly have enough time left in this daily cycle to do more than just a back test, so will it bounce around or consolidate?

 

There is more to this set up than just what was stated above, so let's look at 2 more sectors...

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