Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
What’s Next?
We go into a Fed Day knowing that there will be volatility. It doesn't matter what my expectations are longterm, the short term volatility can be difficult for many. That's why I wrote this on Wednesday morning before the Fed release when asked about Gold ( and miners)...
Nov 2 – Fed Wednesday Again
There is not going to be much new to discuss here until after the Fed on Thursday. We are in the middle or late in various daily cycles, but we can review how things are playing out so far.
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SPX Tuesdays report - I was pointing out that I an expecting a drop
SPX - We got the market drop, but then it reversed going into the close, so we have a reversal candle. With a Fed day Wednesday I wouldn't put my trust in it yet. I did expect a deeper drop.
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Oct 31 – A Closer Look
We had a huge weekend report, and so what possibly could be said only 1 day later? Well, I have 14 charts in this report to help us to take a closer look at things, because this is a Fed Week. To the charts...
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SPX - I want to say that there is no change from my expectations over the past several weeks. We didn't go long or short, because these sideways markets can just waste time and chop up funds. We are due for a dcl ( possible ICL) , so I do expect a bit more of a drop to a new low, not a move higher yet. We have Fed Wednesday ahead.
Weekend Report – Visibility
Another week that started off a little unclear in some areas, but I think we're starting to see some clarity now. Lets review the current condition of the markets and then focus on Precious Metals sector.
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I have been pointing out the potential resistance in the General markets. With the exception of the Nasdaq , which has done a little better, Markets have been rather stagnant. Lets look at the progress over the Month of October.
SPX -This was SEPTEMBER 30th, and the choppiness was making it unpredictable and untradeable.
SPX NOW - 1 Month later and it is a tad lower with a big rounding top. On Oct 13th it broke to a new low and I warned that it now looked like it would NOT go upside until it first breaks to new lows again ( Failed daily cycle). 2077 is currently the 200sma and a possible support.
Lets look at the weekly chart
Friday October 28
Well, you know the story. I don't usually plan on doing a Friday report. Thursdays report can usually cover what could happen on both Thursday and Friday. We are specifically focused on Gold & Miners , so we should discuss that area a bit before the weekend. Let's start with the $USD.
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USD Oct 26 - Would the dollar drop into its Daily Cycle Low, or would the 10sma act as suppport? It is overdue to dip down.
USD Oct 27 - It DID use the 10sma as support so far. This Daily cycle rise is longer than normal.
Oct 26 – Lines In The Sand
At this point in time, we should discuss lines in the sand for protective purposes. First, a quick market review.
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SPX - No Change at this point. I see a failed daily cycle and weakness so far.
Lets take a look at the USD ...
So That’s How The Internet Works
This report is all about How the internet works, and Gold, Silver and Miners.
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This is how the internet works...
GDX - This was from my weekend report, and I showed how the 10sma could be tagged by GDX and the drop would back test the trend line. Totally normal, so we were ready.
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GDX MONDAY - When it actually happened, this was exactly what we knew should happen. Well, the internet lit up with Bearish chatter. I was hearing that Gold was about to get crushed, Miners were 'crashing' , and the USD was rallying! T-H-A-T is how the internet works now, fear breeds fear. Is this soooooo bad?
Well lets discuss Tuesday and see ...
Mixed Monday
So far I think that the action in the markets today basically matched my weekend report, but they were received with mixed fanfare. Lets take a look and review expectations.
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I was looking at SPX like this, trapped under the 50sma and 10sma.
Today the Markets gapped open higher and the NASDAQ was up near the 2016 highs. Lets take a look.
GOLD AND THE USD
CAN GOLD CONTINUE TO RISE, SINCE THE USD IS MOVING HIGHER TOO?
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That question and other ones similar to it keep coming up lately and understandably so. Gold usually drops when the USD rises, but lately we do see both rising at the same time. I called a low in Gold recently and have been trading in the Precious Metals sector, but some are having a hard time believing it when they see the USD rising too. Allow me to share my thoughts on this. The following 4 charts are from the weekend report, where I tried to help my readers see the answer that question.
GOLD AND THE USD
CHART #1 -The USD has slowly been approaching the Highs of 2015. The chart does look quite bullish, but it does also show prior lows being taken out and lower highs so far.
