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. 🙂
Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
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.
January 19th – Closing In
I want to do a quick market review, and then I have some very interesting charts of Gold & The Miners pertaining to the situation that we find ourselves in currently. I want to use this Friday report to further prepare us for what is coming in the Precious Metals Sector...
SPX - Day 42 is late for a daily cycle and I expect a pull back eventually, but these markets are very strong. Last weekends report pointed out that the 'weekly charts' looked to be heading into a parabolic run, and this week may close at highs again! 'Longs' just continue to take advantage of this never ending gift with a trailing stop 🙂
Jan 18th – More Picks
The VIX was Popping, the markets were dropping, and ...
DJIA - We just can't even get a 2 day pull back in this runaway move 🙂 A trailing stop still has you in this long position ( TQQQ, UPRO, UDOW, ETC). If we do get a sustained pull back, it will likely be a very good buying opportunity.Day 41 for the Dow is getting late.
January 17th – Expectations
With only 1 trading day behind us since the weekend report, nothing has really changed in our expectations for the various Market sectors, but some small changes did take place. Let's just take a look at what we expect going forward.
SPX & VIX - Using the chart below, I had mentioned on January 3rd that as the markets keep running higher, they continues to look to have that parabolic type climb to it. Then I pointed out that with the VIX trading at 9, we should expect a POP in the VIX at some point, and a drop (temporary) in the run. Here I pointed out that LOWS come after a pop in the vix.
The VIX started to pop Tuesday and ...
