Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
Thursday – Dec 22 – Day After Day
Yesterdays reports called 'Baby Steps' discussed how the markets have been moving slowly along, and how that can eventually lead to a particular outcome. Well, most areas of the markets continued that slow crawl yesterday. If you read yesterdays report, nothing has really changed in many areas, except for Natgas. Today we will briefly review and discuss a few of these areas again.
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Did the Dow hit 20,000 yet? It was only 13 points away when I pointed out this chart
WED Dec 21- Baby Steps
On Tuesday, the markets continued to take some baby steps. Not only did we see The DJIA take more baby steps toward Dow 20,000, but the VIX took baby steps toward the lows of the year. Add to that Oil, Gold, and the Miners taking baby steps of their own. Lets take a look and see what direction things seem to be heading in.
DJIA - The Dow was only 13 points away from tagging the big round number 20,000. Since the VIX is below 12, we would usually expect a top to be forming, so the big party may be short lived once the Dow achieves that goal.
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Tuesday Dec 20th
Nothing has really changed since the long weekend report, so lets just review what has happened on Monday.
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SPX - We are due for a pullback into a dcl soon, but this looks like a bull flag forming, so one more pop higher could be in order first. A pop now could help the DJIA to reach 20,000 ( And then a drop would be expected).
DEC 19 – MORE STOCK PICKS
I wanted to share a couple of trade ideas that would be considered low risk , since a stop can be placed just below the purchase price.
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Dec 17 Weekend Report – Precedence
We have seen some unusually deep selling in the precious metals sector, so I do want to discuss whether or not there is any past 'precedence' in this area later in the report. First let's discuss what has happened in just the past week. To the charts...
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SPX - Dec 12th, I was looking for the run to stall, and we should see a pullback.
SPX - We have stalled and pulled back a little. A break of this trend line could bring a little more selling, but this will likely be a right translated daily cycle and we can expect higher highs on the next one too. The red line is the 50sma.
SPX WKLY - And we do see a form of topping candle on the weekly. Falling to the blue line at 2200 would also back test the break out.
Dec 16 – Friday
Friday review:
The Fed Hike Plunge
Many sectors began to sell off with the interest rate hike Wednesday. Some were sectors we expected to sell off, others were expected to snap back. Will we get the snap back on Thursday and Friday? Let's discuss what we should be looking for.
SPX - From Monday, the markets were outside the B.B. on a weekly basis, so I would have expected a dip by the end of the week.
FOMC – An Interest Rate Hike?
I've been wanting to answer a frequently asked question and that question is,
