Entries by Alex - Chart Freak

Aug 15th – They’re Back…

August 15, 2017 /96 Comments/in /by

If you need to know how I feel about Miners,  check the reports from the last several weeks, but I will add one more thing to that discussion at the end of this report. 🙂  First let's do a market review...

 

SPX - After breaking below the 50sma as expected, A gap open Monday has put a  swing in place, but it is unconfirmed at this point.  Another day of follow through may help to clarify this picture.  Day 29 is on the early side in the daily cycle count, so let's see what Tuesday brings. See the chart and we'll look at the NASDAQ.

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Thursday August 9

August 10, 2017 /133 Comments/in /by

We saw some interesting moves in the markets on Wednesday, so let's take a look...

 

SPX - We see a reversal, but I do not expect a major run higher.

NASDAQ #1- I read head;lines saying " Even the threats of North Korea cannot hold down this bull market".

However...

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Aug 9th – Not A Whole Lot Of Change Here

August 9, 2017 /118 Comments/in /by

There was not a lot of change to report today, but there were some 'significant' changes that took place, so let's take a look at what has changed...

 

SPX - This weekend I mentioned that the SPX could go a little higher, but unless it breaks out strongly and runs, it looks to be at the top of a rising wedge.

SPX - Timing wise we are near the timing that we can expect a drop into a dcl, and Tuesday we saw a false or weak break out that turned into a reversal. In June, this happened and we slowly rolled over and dropped to the 50sma area.

What about the NASDAQ? ...

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Tuesday August 8th- Stretching Out

August 8, 2017 /114 Comments/in /by

In some areas of trading, we see stock picks and stock trades stretching out nicely, and in other areas we see 'cycles' also continuing to stretch out, so lets examine both today.

 

SPX - I do not think that day 19 was the peak and the daily cycle low of the daily cycle, so that would mean that we are on Day 26.  This could pop and run a bit higher, but it is probably going to drop to the 50sma area for the next dcl.

NASDAQ - The NASDAQ got above the 10sma, and that it bullish, however I would imagine that it is only good for a short term trade.

 

And this is the reason why...

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AUG 7th WEEKEND REPORT 2

August 7, 2017 /100 Comments/in /by

In part 2 of our weekend report , I wanted to provide a few trade ideas for our traders. I am still seeing some very favorable looking set ups, with low risk entries forming.  The big warning that goes with these is that we are in earnings season and we are seeing surprises both to the upside and down. Some of these companies have their earnings behind them already, but please be aware of when the others are to be released.

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Weekend Report Part 1 – August 6th

August 6, 2017 /26 Comments/in /by

Let's review the market action from last week, and see where that puts us.

 

 DOW 22,000 was the big deal. The NASDAQ had its day in the light, and now it has been consolidating as the DOW & SPX have been moving higher.

DOW WEEKLY -  However , is the DOW getting a little ahead of itself too?

 

Let's have a look at and discuss the SPX & NASDAQ too

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Friday August 4th

August 4, 2017 /140 Comments/in /by

  If you were recently stopped out of TQQQ or UPRO,  would you really want to start a new 'long' or 'short' position on a Friday going into the weekend, with the NASDAQ on day 25 of its daily cycle?"   Probably not, today is the last trading day of the week.   Let's take a look at the QQQ, for those already positioned however.

 

QQQ -  Again the Q's closed under the 10 sma and as it gets later in the daily cycle, the more it may not have enough buyers to push it to new highs. Even if it did, it might be a short lived push higher.

Earlier in the week I pictured the QQQs  just dropping and tagging the 50sma, and I wasn't encouraging jumping back in, for fear of getting stopped out again.

So far this is playing out, but I wanted to mention something else...

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