Friday Balancing Act
After a quick market review, I was to discuss a bit further the risk reward in front of us in the Precious Metals Sector.
Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
February 1st – Post Fed Swing Sets
SPX - We are actually pretty late in the timing for a dcl, so even though this drop can meander like the one in November did, it may just be a brief dip.
JAN 31st- The F.O.M.C. RIDE MAY BRING MIXED REACTIONS
Welcome to another Fed Wednesday. Let's review what took place on Tuesday, and then discuss what may take place after the Fed Decision (which is pretty much already baked in).
DJIA - Finally, 2 down days in a row and a close under the 10sma. The DOW has started a drop into a daily cycle low.
Jan 29- WHY?
DJIA - Monday was a down day. let's see if we can get 2 days down in a row, since we haven't seen that for weeks. 🙂
January 28th – The Weekend Report
We rode out some choppiness this week, so the weekend report can act as that 'beacon in the storm' that guides us along. Let's review our Markets...
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SPX WEEKLY #1 - As expected, the General Markets are accelerating and this weekly chart shows the last 4 weeks as strong green weeks. A trailing stop has been very effective for those riding this 'long'.
Thursday Jan 25
SPX - The General Markets continue higher, and the pull backs have hardly been below the 10sma. This is a doji candle and usually leads to a reversal top, we are due for a deeper drop, but as I have been saying for weeks and months now - just use a trailing stop and you can stay long in this type of bull run ( Some are in UPRO, UDOW, etc).
January 23rd – Still Waiting
SPX - I believe this is day 44 of this daily cycle. It looked like a bull flag going into the weekend, and it did break upward, but it is late in that daily cycle. I would expect a small pull back soon. These are very bullish markets.
JAN 20 Weekend Report
We have a Big weekend report, dealing with the BIG PICTURE, so let's get right into it...
SPX - This is usually a topping candle, a 'spinning top' on the weekly. The markets have been very strong, so a pull back would be normal. We'll see how this plays out next week in our daily reports.
