Entries by Alex - Chart Freak

Fridays Check List

Tonights report is going to be a great lesson on how we can view things as the markets ebb and flow , breathing in and out.  We're at the end of the week and we saw a little selling in Precious metals Wednesday followed by an immediate reversal Thursday. Does that reversal mean that the selling is over? We will look at a number of things that help to give us confirmation as to whether a short term low is either in, or may not be in place yet.  Also buying the dips tips.

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WTIC -  First a chart of oil, since many do ask about the energy sector that we were trading over a month ago. We had a reversal Wednesday, but I pointed out that I still see weakness going forward.  Patience is needed here. 

WTIC 7-20

 

WTIC -  That reversal vanished  on Thursday.  This needs to prove itself, and it is still proving to be weak.

WEAK WTIC

Now on to Precious Metals...

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July 20 – A Miner Dip

Wednesday we saw the Miners (GDX, GDXJ)  gap down and close near the lows on fairly high volume. What can we expect going forward? We'll discuss that after a quick market review. 

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SPX- The general markets broke to new highs and since there is no resistance here, they have just continued higher.  I do expect a dip soon, maybe this measured move will be close enough? 

SPX 7-20

3 reasons that I am expecting a dip...

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Miner Ideas In A Major Move

I am releasing the premium report that I wrote last Thursday for Friday mornings  trading. I feel that much of it is still applicable today. Enjoy.

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In a recent report I was discussing what I called Giraffes.  These are the special set ups in certain Miners that explode higher giving the chart a look of a giraffe neck. Certain set ups form during consolidations and lead to this price explosion, giving us some big profits. Obviously finding them BEFORE they pop is the key to maximized profits. Lets take a look at some of our Giraffes from past set ups, then I want to discuss what I think will be the next ones.

 

This was our set up in XRA at when it was just under $1.00

XRA 6-27

2 days later we were up over 30% with the giraffe neck 🙂

XRA 6-29b

Lets look at another explosive POP that we caught, and then I'll  point out our next candidates...

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July 17 – Weekend Report

Last week the SPX broke to new all time highs.

SPX WKLY 7-15

We expected that, since it was just coming out of a new ICL, and I pointed out on the DOW and SPX that we had a bullish 3 white soldiers pattern in play. This is a bullish reversal pattern after a sell off.

DJIA 6-30

SPX DAILY - Since there is no overhead resistance, it can just continue higher, but a 1/2 cycle low would provide a back test.

SPX 7-15

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Twinkle Twinkle Little Star…

In a recent report I was discussing what I called Giraffes.  These are the 'STARS' of the Miners that explode higher giving the chart a look of a giraffe neck. Certain set ups form during consolidations and lead to this price explotion, giving us some big profits. Obviously finding them BEFORE they pop is the key to maximized profits. Lets take a look at some of our Giraffes from past set ups, then I want to discuss what I think will be the next ones.

 

This was our set up in XRA at when it was just under $1.00

XRA 6-27

2 days later we were up over 30% with the giraffe neck 🙂

XRA 6-29b

Lets look at another explosive POP that we caught, and then I'll  point out our next candidates...

Read More