Entries by Alex - Chart Freak

Feb 7th – She Caught On Fire

February 7, 2017 /188 Comments/in /by

Look at a chart of SPX, DJIA, or even OIL and nothing has changed from the weekend report, so we are going to go right to the Precious Metals sector for a review of Mondays action.

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Notice that the USD was moving higher for most of the day on Monday, but that didn't hinder the gradual melt up that took place all day long in Precious Metals,  right into the close.

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FEB 4th – Fed Week And He Stayed On Track

February 5, 2017 /105 Comments/in /by

This weekend we are going to just keep it simple. We are in the middle of what has turned out to be some very good trades, and they have been acting correctly for weeks now. Why get too complicated when we are seeing things remain right on track as we go forward.  To the chart!

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SPX - Personally I have not taken a trade in the general markets by means of ETFs. Individual stocks have done well, but the volatility in this sideways consolidation has schooled both the Long & shorts.

1. We had a break out (bullish) , but the VIX was down near 10 ( Bearish)

2. We had a failed break out when it gapped down, and an ISLAND TOP formed ( bearish).

3. That was negated Friday when the gap closed, and this looks bullish again. The green trend line is key going forward.

We were watching the VIX , which was indicating that the markets would likely pull back in February sometime ( I mentioned that the VIX is not a short term timing tool, I use it as a cautionary measure). Now let's look at the weekly charts.

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A MIXED BAG

February 3, 2017 /49 Comments/in /by

We have a mixed bag in the markets, so let's get right to the charts.

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SPX - Do you see what I see Gilligan? The markets have been all over the place along with the vix since 2017 began. It looks weak. This is an ISLAND TOP actually, a bearish top if price doesn't close that gap soon.

 

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What’s In Your Wallet?

February 2, 2017 in /by

What have the readers at Chartfreak been looking at as the best near term investment?  Since the lows were put in in December, we have been buying and focused on Miners.  I did expect a pause or pullback in January, but I also wrote a special report telling my readers "Not to get too cute"  and over trade this sector, because more upside was on the horizon.  On the blog, last week I wrote specifically about GDX, see post: https://chartfreak.com/2017/01/market-vectors-gold-miners-gdx/

I've decided to give you a portion of the member report sent before Fed Wednesday.  The report covered all of the markets, but the main focus has been on the Precious Metals sector. So the following is a part of Wednesday's precious metals section.

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FED WEDNESDAY IS CLOSE

January 31, 2017 /137 Comments/in /by

Let's discuss Monday and keep in mind that we are closing in on the FOMC meeting Wednesday.

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SPX FROM THE WEEKEND REPORT - After the break out the VIX was below 11!  I expected that we could get a drop and not a continuation higher for now.

I posted this in the comments section near 11 a.m.,  the VIX was popping and the markets were dropping.  This looked like the markets could be rolling over going into the Fed Meeting.

SPX END OF THE DAY -  Then the markets reversed and put in a pretty big reversal candle. It recovered back to the consolidation highs, but it was still down 14 points. The jury is still out, but anyone that jumped in long at the break out or short as the day sold off have both been schooled a bit. The school of volatility.

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Weekend Post- Progress Report

January 29, 2017 /38 Comments/in /by

This is our weekend wrap up, and I really like what I am seeing. This is a long report with a good amount of discussion and about 30 charts, enjoy.

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SPX - The General Markets broke out as expected, but we have yet to see follow through.

Let me show you something interesting ...

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Still On Target

January 27, 2017 /163 Comments/in /by

It's Friday, the last trading day of the week, and things are continuing to move ahead, right on target. Let's take a look...

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When I pointed out the USD on Wednesday, we were looking at a new low on day 32, with a peak on day 16.

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