Author Archive for: Alex - Chart Freak

About Alex - Chart Freak

I’ve been a full time trader for well over a decade and began trading in the late 1990s while working in management and sales at a well-known aerospace company. As my style evolved, so did my success, and it allowed me to leave corporate America to pursue my passion and trade full time.

Entries by Alex - Chart Freak

Friday Morning September 23

September 23, 2016 /84 Comments/in Premium /by Alex - Chart Freak

What are we watching on Friday?

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SPX - Yesterday, using this chart, I pointed out that this confirms the daily cycle low, and it is a bullish break.

This could be considered an Island Bottom reversal. It is a bullish break out, especially if that gap doesn't fill.

The Fed Said “No Hiking” Again

September 22, 2016 /53 Comments/in Premium /by Alex - Chart Freak

My High School Sociology Teacher used to start his class by saying, " O.K. friends, no fooling around here. I have a lot to cover today, so let's just get right into it." I miss that, and I have a lot to cover too, so lets just get right into it! 🙂

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SPX - I discussed that the NASDAQ, IWM, SOX, XBI / IBB, and so on had already made the break higher, as the SPX lingered. The Fed Decision gave it a good push and we have a confirmed DCL and we're on day 7. It is still oversold , and I would expect a break out to new highs sooner or later.

Fed Wednesday Again

September 21, 2016 /78 Comments/in Premium /by Alex - Chart Freak

Lets discuss Fed Wednesday

September 20 – What’s Happening With Gold?

September 20, 2016 /5 Comments/in Public /by Alex - Chart Freak

I have a core position in Miners that I started early in 2016. As a trader, I have sold most of my shorter term trading positions and I am waiting for the fat pitch to reload. Are we there or is there further selling likely? I believe that we are very close to another run higher in the Precious Metals sector, but we also have the Fed Mtg on Wednesday that could affect things short term. Are there any clues pertaining to short term direction? Please read on...

Somebody Stop Me

September 20, 2016 /81 Comments/in Premium /by Alex - Chart Freak

I am fairly heavy in cash in my trading account and with cycle timing being where it is in Precious Metals, I am trying to stay that way going into the Fed meeting.

( I will always have a core position in Miners since admonishing that in early February). We get up each morning in North America and Gold is higher, but as they day progresses, it goes nowhere really. Lets take a look and discuss we we can expect.

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SPX - We have a swing low in the NASDAQ, RUT, IWM, etc., but we still do not have a swing low in the SPX yet. That DOESN'T mean that the low isn't in place, it just means that it hasn't confirmed itself with some follow through. This has the look of a bear flag, but I would expect a move higher soon with this set up.

9-18 The Bigger Picture

September 18, 2016 /139 Comments/in Premium /by Alex - Chart Freak

The weekend report will take more of a big picture view, but I really think that everyone here should take the time to skim through Fridays report again. It was more of a detailed idea of what is happening, specifically in Oil and Precious metals. Please go back and at least just skim through those charts when you finish this report.

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SPX - Recall what I said about the NASDAQ, RUT, SOX in the Friday report, and here we have the SPX after Fridays trading.

SEPT 16 – REMINDERS

September 16, 2016 /58 Comments/in Premium /by Alex - Chart Freak

This is just a little Friday report to toss out some Reminders about what we will be looking for next week.

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NASDAQ - I have been mentioning that cycle timing indicates that we should have a daily cycle low. We don't have one in he SPX yet, but the NAZ may be leading the way. The SOX is very bullish, and the NYA, RUT, DJIA, etc have also put in a dcl.

…When To Hold ‘Em, Know When To Fold ‘Em

September 15, 2016 /64 Comments/in Premium /by Alex - Chart Freak

Volatile markets and choppy sideways action, which way will the markets break? As daily cycles begin to age and the FOMC meeting approaches, it may be best to listen to the words of the gambler - You've got to know when to hold 'em, know when to fold 'em, know when to walk away, and know when to run - Kenny Rogers . I am scaling back on trades going into the FOMC meeting next week and wait for the fat pitch, the ICL in Precious Metals.

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SPX - DCL? Bear Flag? FOMC? The general markets are due timing wise for a dcl, but I'm looking for a sign of strength.

Hard To Hold

September 14, 2016 /108 Comments/in Premium /by Alex - Chart Freak

The Tuesday report was discussing the recent volatility. Sideways chop is frustrating and newer positions are hard to hold, until you get a nice directional move. We are currently seeing strong volatility now. Lets take a look...

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SPX - The lows from Monday were not taken out, so that still could be a dcl, we just do not have confirmation.

Reversals, Volatility, and Trading

September 13, 2016 /119 Comments/in Premium /by Alex - Chart Freak

When the markets get volatile, trading short term can be difficult for some. Buying low one day works out well, and then you may find yourself watching the gains evaporate in a quick drop. Friday was a quick drop and then Monday was a rip higher for the general markets, and Energy and Precious Metals are also a bit jumpy. Lets take a look and see what we can see in the charts.

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SPX - With Fridays drop, I said in the weekend report that many would want to go short, but WE are looking for a DCL almost immediately. Timing was late for a low, and that could be capitulation into a low. I mentioned obvious support areas for a reversal on this weekend chart.

This chart pointed out that a 1 week sharp drop like we just saw could reverse and not have follow through (red Arrows) .

SPX - We got a fast reversal almost regaining all of the losses. Those going short Friday got burned. This may back off a bit and then surge higher through the 50sma in time.