Entries by Alex - Chart Freak

Public Post – Whats Happening With Gold?

I received a good number of emails where people said that they were “Going short for the final plunge in Gold below $1000!”.   I’m not saying that that plunge wont come, but does the evidence point to last weeks break down being the signal to go short? Lets look at some charts and see what […]

Did You Short The Gold Break Down?

In my weekend report I warned about a possible false break down in Gold.   I received emails saying that many 'shorted this sucker for the final flush down phase'.  I repeat, Please use & honor your 'stops', I see things differently.   I'll explain after a market review.

The SPX was looking bullish and I expected a break to higher price, but today there are areas that need to be noted and watched.

SPX 11-30

IWM - This also had a semi high volume rejection at the 200sma. That doesn't mean that it is done, but we'll watch to see if the 10sma or another area of support can hold it up.

IWM 11-30

Here is where it gets interesting...

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Light Holiday Trading?

This was possibly going to be a slow week of holiday trading, with Thursdays markets closed in the U.S. and 1/2 day Friday. In some areas we actually saw some noteworthy changes. Lets take  a look at our weeks activities.

SPX - No change from what we expected, but we should see a push higher soon.

SPX 11-27

 

This is encouraging ...

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Bullish Changes

Today is Wednesday and the last full day of trading this week for the markets in the U.S.  There were some bullish looking moves yesterday, some expected and another was a little surprising. Lets review. 

SPX -  I expected a little drop, likely to the 10sma, and a BUY opportunity for UPRO, TQQQ, or another long vehicle that you may trade.

SPX 11-24

I posted this chart of UPRO yesterday, using the 10sma as a guide. The 2nd one was at the close.

UPRO 11-23Upro 11-24

That was a perfect "Buy" opportunity, but It could still be bought here if you missed it.

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Slow Week Ahead?

  This is a holiday week in the U.S., so I would expect that the markets may begin to slow down as the holiday approaches. Lets review what took place Monday.  There actually were a couple of noteworthy occurrences since the weekend report.

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Nov 22 Weekend Report

With the release of the Fed Minutes Wednesday, we got a good amount of action in the markets this week.  Lets review sector by sector.

 

The SPY -  On Nov 16,  with a day 25 high in place,  I expected a bullish break higher and a DCL to be put in place.

SPY 11-16

 

SPX Nov 18 -  This was a bullish break out back above the 200sma.

SPX 11-18

That was follow through after the release of the fed minutes.  What can we expect?

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PUBLIC REPORT : GOLD BULLS AND GOLD BEARS

We saw GOLD break to new yearly lows Tuesday and I read in several different places that people were going short for the drop below $1000  (Again).  From what I was seeing, it was not time to be going short.   I discussed that in my Tuesday night report and will post some of that discussion […]

A Clearer Picture

The picture started getting clearer in many sectors of the market after the Fed Minutes were released Wednesday afternoon.  Lets take a look.

 

SPX / SPY - Looking for an overhead follow through and within the timing for a DCL. The 200sma acted as resistance.

SPX 11-17

Bullish Break through, I expect higher prices and will watch how the follow through plays out.

SPX 11-18

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She’s Breaking Down…How Bad Is It?

We saw GOLD break to new yearly lows yesterday and I read in several different places that people were going short for the drop to below $1000  (Again).  We will discuss why I do not agree that this is the time to be going short.  NATGAS remains interesting and OIL and Energy Stocks continue to have my attention too, so First lets look at a few other charts.

SPX - The markets stalled at the 200sma and a down trend line that I mentioned earlier. We could  drop to the 50sma, but timing wise, we are due to go higher soon.This may be a pause before breaking above that 200sma.

SPX 11-17

The USD has been strong , but it may be due for a rest.  Yesterday was a short term topping or reversal candle, but it is not  a strongly reliable one. If the dollar is due for a rest,  what might that do for the commodities that are now being heavily shorted? 

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