Author Archive for: Alex - Chart Freak

Almost all of the Markets have become choppy over the past few weeks, so what happened to all of the Bulls?  We have found a few Bulls that seem to be moving forward, and I will discuss those in the report.  The others may need to be coaxed out of the fields of consolidation, before they can enjoy a nice solid run again.  Let's take a look at what happened last week?...

SPX WEEKLY - Here we see that the bounce of the past 2 weeks has curled up the stochastics, so maybe the selling is done, but I have been expecting a test of the lows.  Compare last weeks drop to what we saw out of the lows in 2015, the bounce also looks very similar, so ...

SPX - If we are due for a double bottom low, next week could be another down week, as shown here where I drew in an extra candle. This would match the 2015 double bottom lows.  Read the chart.

Lets take a look at the flip side.

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The choppiness continues,  let's take a look at what we have.

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This is a pre-market snapshot, it contains quite a bit of red so far...

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SPX - The SPX broke below the 50sma & Volume increased, so this needs to be watched carefully. Yesterday I reminded readers of my weekend reports 'lessons' section at the end, it is worth keeping in mind or re-reading. Day 12 peak so far.

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Since the weekend report, we are seeing what was expected out of the General Markets & Oil, so I am going to get right to a few other areas first, and then I will have a couple of Stock Picks to consider.

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As mentioned in yesterdays report, I find that as each day goes by I have taken profits and lightened the load a little bit  since buying the reversal low in Miners.  I am doing this until the volatility, and thus the short term uncertainty, passes.  Let's review the markets again...

SPX REVIEW AGAIN -  Feb 6th I pointed out that Markets may drop a-b-c style to the 200 sma, and then flounder around trying to form a base.

NASDAQ -  That went for the NASDAQ & DOW too, as seen here...

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Today is the release of the Fed minutes.  At times we get the same reaction that we saw when the Fed Decision was released, and other times we get the opposite, so that is todays question...what will todays Fed Minutes bring? It shouldn't be as bad as THAT guy thinks, but it is worth paying attention if you are rather heavily invested.

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SPX -  The markets pulled back a bit on Tuesday, but after that strong 6 day blast higher, the pull back was minimal.

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