Author Archive for: Alex - Chart Freak

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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Earlier this week I wrote a report entitled 'Sprouts', indicating that things were settling down and buying opportunities were sprouting up. Here we are at Friday,  the last day of the week, and things are really shaping up now. Let's take a look...

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After Monday and Tuesdays trading, we are currently seeing 'sprouts' of growth but we're  still also  waiting for some stronger follow through, so let's discuss this stage of our growth...

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In the recent bull run higher for the General Markets, I advised almost daily using a trailing stop to lock in gains just in case we saw a deeper drop.  A deeper drop to an ICL could cost you weeks of gains, a stop would lock in your gains. The goose that laid the golden eggs in the General Markets seems to have been sold on auction (for now).  Gains from November forward wiped out in just a couple of days.  Let's take a look and see what the markets did this week. This report also takes an intense look at the Precious metals market, and I am encouraged by what I have put together!

NASDAQ from my last report - The markets could drop to the 200sma as they have done in the past.

I pointed out that prior ICLs had done just that, sometimes even breaking that level.

In a report last week, I mentioned that way too many people were diving back in, it seemed too easy for the Bulls to just quickly 'Buy The Dip' again,  so We should expect some volatility.

NASDAQ - 1. Importance of the stop - Notice that all gains from November to now would be taken back without a stop.   2. After such a plunge,  Many want to buy the ICL at lows and ride it back up ( I totally get that, I buy reversal candles too). 3.  If it rockets up in a V-Bottom, the gains can be very strong  quickly, but often for most I  advise waiting for a swing low for those looking for 'safe' & less sleepless night investing. Understandably, many tried to buy that 1st reversal despite risk. It failed.  Now we have a 2nd reversal, and many were buying that one on Friday too.  Again, I often enter on reversals too, but it is higher risk.  That said, let's just discuss this so we understand what we are looking at...

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