Entries by Alex - Chart Freak

July 5th – Gradual Change

July 5, 2017 /78 Comments/in /by

With only 1/2 day trading on Monday, did anything really significantly change for todays report? Nothing has changed from my expectations, but we did see some decent moves, and they are worth discussing, so lets begin...

 

DJIA -  This was in the weekend report. An eventual drop to the 50sma or more.

The NASDAQ was what was really looking rather toppy. We have not seen the kind of deep selling that I would be expecting now  ( ICL).

 

SO I used this chart in the weekend report to point out 1 of 2  possible drops, and I pointed out what looked like possible 'distribution'  volume at the highs.

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Holiday Trading For July 3

July 2, 2017 /68 Comments/in /by

With only 1/2 day of trading on Monday in the U.S.,  wedged between a weekend and a holiday Tuesday where the markets are closed,  I think that we can expect light volume trading on that Monday.  Many people may have just checked out and gone away from Friday through Tuesday,  so let's just discuss where we are with the markets.

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DJIA - The markets have started another sideways consolidation or pullback again, however...

 

This does look a bit like 'distribution at the highs' with that heavy volume. Please read the chart.

 

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Wed June 28th – Buy The Dip?

June 28, 2017 /123 Comments/in /by

Buy the dip?  I would say that one might want to be careful when choosing where or when to enter this time.

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SPX - It is day 27 and there is time to drop further, but we are also due for an ICL (overdue), so this could drop even further than many expect in my opinion.

QQQ - Yesterday I pointed out the MACD on the QQQ  ( Nasdaq too) . This looked ready to drop.

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Tuesday June 27th

June 27, 2017 /128 Comments/in /by

In the last few reports I have been discussing a good number of  bullish  trade set ups  that have been forming after sell offs and consolidation periods.   In some areas, the entire sector seems to be reacting.  We will continue that discussion today.

 

SPX FROM JUNE 23 - The bulls and bears are battling, but this looks like a topping process.  We are due for a correction in the general markets.

QQQ - Monday saw a bit of a bearish reversal in the Q's, and that MACD is not showing signs of strength.

I discussed in the weekend report that we are due for a steeper pull back into an ICL, and...

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Weekend Report June 25 – Perking Up

June 25, 2017 /216 Comments/in /by

We  have seen an increase in trade set  ups and patterns following through the past couple of weeks, and it actually looks like this may continue for a while.  Let's review the markets and then we can discuss that...

SPX - Fridays report - We could dip down and back test the break out.

 

SPX - We do have a swing high in place, but that has happened a lot lately. We closed below the 10sma, but then recovered it.  The bears take control and the Bulls buy it back.

SPX WEEKLY - The weekly chart bullishly climbs along the 10ma.

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Thursday June 22 – BOUNCE?

June 22, 2017 /182 Comments/in /by

 

This was my IBB Weekly chart on June 20th.  It is breaking out in bullish manner ( It hit 316 yesterday) and has the potential to get to 330 in a few weeks. The daily chart could back test the break out or it may just bull flag and continue higher.

I will discuss this further later in the report.

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Wednesday June 21

June 21, 2017 /162 Comments/in /by

 

So far, The SPX has put in a swing high every 4 days or so,  🙂   and here we see another one.  Since we  are getting late in the intermediate cycle, and since we are on day 22 of the daily cycle, I am watching each swing high as a possible top.  A break of the lower  trendline could escalate the selling, so my stop would be below that.

The NASDAQ...

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