JACKSON HOLE
Welcome to Jackson Hole Friday, please make yourself comfortable, we may experience some volatility. 🙂
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DJIA - I still think that we should get some downside, as we are expecting a dcl.
Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
Wash Day
The Bullish love for Miners over the past few months took a bit of a drubbing Wednesday. We didn't see the sellers using the gentle cycle to try to wash away the sentiment, it seems that they may have pulled out that wash board and vigorously scrubbed away at it. Many seemed to be heading for the exits. We'll discuss this further, but first...
The General markets sold down a bit, but we are still within the same consolidation that I've been pointing to for weeks. Any further selling should seek out the dcl that we have been expecting now.
SPX -
Did You Buy That Dip?
At Chartfreak, we were anticipating that a higher low in Oil would prove to be an exceptional buying opportunity after the recent summer sell off. Cycle timing was telling us that it was 'time' for a low to develop, so we began monitoring the charts using technical analysis and cycle timing. Did you buy that dip at the right time? Let me show you what we were watching using actual charts from our August reports. You can ask yourself, if I was a chartfreak member, would this may have helped me with my investing in this sector?
WTIC AUG 3 - Anticipating the coming low, I used this chart to start with. We had a 50% retrace and some Energy stocks were beginning to look Bullish too. I encouraged readers not to buy until we get a break above the tight downtrend.
Have You Been Shopping?
Tuesdays markets sparked my interest in a few ways. Let's get to the charts...
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SPX - We've certainly seen this before. Frustrating the longs and the shorts, the sideways move continues.
This Road Won’t Beat You
As mentioned in a few prior reports, we are riding through a consolidation zone in some sectors, and now Oil and Energy are experiencing a slight pull back. In Bull Markets, these are healthy events and over time we eventually see higher lows and higher highs. Understandably, these periods where gains are given and then taken back get frustrating for some, especially if they last for long periods of time. With that, I wanted to re-post this recent report from Aug 12th to help us to maintain an unemotional perspective. Please read the article with the link below again, or just skim through it if you have time.
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SPX - The set up is bullish, but I am expecting a cycle dip into a dcl, so I am viewing it this way for now. There is a possibility that these markets just remain supported and head upward into a runaway type move. The dips are very muted.
AUG 21 Weekend Report
Looking forward...
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SPX - The squeeze on the Bollinger Bands usually leads to a strong directional move.
You can see that we are consolidating in a bit of a triangle / wedge and heading into the apex. A break out 1 way or the other should occur soon. A break out higher could lead to a runaway move ...
The Force Awakens
And as predicted, it is a force to be invested in 🙂
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WTIC - Many doubted that Oil could come back so quickly, some on CNBC were saying that it would not make it past $44. With an ICL in place, there is no doubt that this chart shows us....The Force Awakened.
We have been investing in Oil/Energy since I pointed out some nice set ups over 2 weeks ago. Some of these gains are already satisfying. Is this it? Will Oil only double top like I hear some saying? I will discuss the potential briefly here and in the weekend report.
Thursday August 18
Today the Fed Minutes were released. Could you tell?
The SPX sold off and then recovered the 10sma.
Just A Minute
Fed Minutes are released today. We have seen a few sideways moves in various sectors, maybe this will be a catalyst for a directional move.
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SPX - If you re not long or short, don't jump the gun. After a long consolidation, the move can be prolonged, and I have actually been expecting a dip into a dcl. I dont think that the early Aug dip on day 25 was enough.
The Eye Of The Beholder
Not much has changed since the weekend report, and we are still seeing once semi-ugly charts becoming diamonds in the rough. Let's review...
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SPX - I personally took a long trade after calling the ICL in June ( And pointing out the 3 white soldiers very bullish pattern), I didn't stay long during the long sideways move started getting drawn out. I still expect a dip soon into a dcl, though this break out does have an occasional pop higher out of the sideways consolidation. I think you are looking at 1-2-3-4-5 completing for now. It may become a buy the dip in the future.
