May 8th Trading
NASDAQ - The NASDAQ broke above the 50sma and has broken the down trend for now, this is short term bullish action ...
Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
May 5th Weekend Report
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.
Friday May 4th
SPX - We saw a reversal midday and I posted this daily chart in the comments / chat section at 1 p.m.
Let's discuss this further ...
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May 3rd – 1 step closer
When it comes to cycle timing, every step does get us closer to our goal.
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SPX DAILY - WEAK. We will be on day 23 Thursday, and the markets moved slightly higher after Wednesdays FOMC Decision, and then sold off into the close. This still looks weak, I remain cautious.
Tuesday May 1st
I have been expecting this to be an active week, so as we approach FED Wednesday, lets review how Monday traded...
SPX - So far, the move out of the April lows has been weak and appears to be struggling at the 50sma. With the daily cycle count ticking away, this needs to break above that 50sma soon, or it will get caught up in a sell off when the 'time' is up.
And don't forget this...
4-28 Weekend Report
I have been covering the Big Picture in the weekend reports, and not a whole lot changed since the last weekend report really. That said, I will cover all of the market sectors that I usually do, and discuss the possibilities going forward. I expect this to me a week of increased activity (FOMC).
Fridays Assortment
SPX - We have a swing low at what looks to be a 1/2 cycle low on day 18. The follow through will tell us the strength of the daily cycle. The 200sma acted as support, and volume increased off of the low. I willbe watching for a break of the down trend line & a new high above day 12.
4-25-2018 – Hanging On
It is earnings season this week and suddenly we are seeing the Markets sell down, even when reports do not seem that bad. Let's do a quick review...
SPX APRIL 20- Last week I looked at the move out of the Feb lows and noticed a pretty drastic sell off on day 13 & 14 below the 50sma, so I drew the SPX chart with a similar drop into day 14, a bounce, and then possibly another drop.
SPX APRIL 23 - Monday I thought that by day 15 we would get our 1/2 cycle low, and then a bounce higher. The markets were so strong in Oct, Nov, Dec, and Jan that I would expect them to at least make a double top, eventually running to the former highs. On Tuesday...
SPX - We are REALLY seeing a struggle here to gain some traction. 2553.80 IS CRITICAL in my opinion. If those lows break, this would appear to be a failed daily cycle.
