Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
Tuesday – September 26
Let's take a look at Mondays action, and basically things are still playing out as expected in the past couple of weeks reports.
NASDAQ - From the weekend report, I started seeing weakness in the Nasdaqs internals, so I mentioned this in the weekend report with this chart...
"I have to wonder if the NASDAQ upside is limited here too. I would use a tight trailing stop now, if I was long."
NASDAQ - The Nasdaq dropped 83 points at one point on Monday.
HMMM- Read the chart
Weekend End – Sept 24
Last week was the week of the September F.O.M.C. Meeting. Let's review how the week played out and ended.
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SPX - We find the SPX on day 23 and that is within the timing that it could start to seek out a daily cycle low. I am pointing out in this chart that recently when the daily cycle has been in the 20's plus count, it has merely gone sideways, so upside may be limited here.
I did notice a few other interesting things with the General Markets however.
Friday – Setting Up
When I was a kid and my mother was making Jello or a Chocolate Pudding or Cake, she would tell me that I should not be impatient. I needed to wait until it was finished 'setting up'. That is where we are in the Precious Metals sector, and also some Energy stocks, so let's take a look at the markets and then that area in particular...
A Fed Fake Or A Head Fake?
F.O.M.C. Volatility, you just can't trust the initial moves out of that 2 p.m. decision , but what is next?
SEPTEMBER 20 – FED WEDNESDAY
Today we have our FOMC meeting, so lets discuss a few things that we will be looking for...
Tuesday Sept 19th- After The Storms.
Storms can cause a pretty big mess, no doubt about that, but sometimes after the storm, we can appreciate the beauty of the recovery. Right now the Precious metals are selling off, and to many, we have a mess. Will there be beauty after the storm? We will discuss that in todays report...
Weekend Wrap Up – Sept 17
Next week we have the FOMC Meeting, so lets see what the markets have done as we slowly move toward that date with the Fed Decision.
Sept 15- Friday Again
Just 1 more day of trading and then we have the weekend. Let's take a look at a few things of interest ...
USD - The USD has a swing low in place ( unconfirmed, and the last one 2 weeks ago rolled over). We do see bullish divergence, but the proof would be in a close above 93 in my opinion.
Thursday September 14th- Energy
SPX - ON day 16, The SPX has more time & space to climb higher. We still have gaps below that usually fill later on.
