Entries by Alex - Chart Freak

WED Dec 21- Baby Steps

December 21, 2016 /86 Comments/in /by

On Tuesday, the markets continued to take some baby steps. Not only did we see The DJIA take more baby steps toward Dow 20,000, but the VIX took baby steps toward the lows of the year.  Add to that Oil, Gold, and the Miners taking baby steps of their own.  Lets take a look and see what direction things seem to be heading in. 

 

DJIA -  The Dow was only 13 points away from tagging the big round number 20,000.  Since the VIX is below 12, we would usually expect a top to be forming, so the big party may be short lived once the Dow achieves that goal.

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Tuesday Dec 20th

December 20, 2016 /100 Comments/in /by

Nothing has really changed since the long weekend report, so lets just review what has happened on Monday.

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SPX - We are due for a pullback into a dcl soon, but this looks like a bull flag forming, so one more pop higher could be in order first. A pop now could help the DJIA to reach 20,000 ( And then a drop would be expected).

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Dec 17 Weekend Report – Precedence

December 18, 2016 /14 Comments/in /by

We have seen some unusually deep selling in the precious metals sector, so I do want to discuss whether or not there is any past 'precedence' in this area later in the report. First let's discuss what has happened in just the past week. To the charts...

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SPX - Dec 12th, I was looking for the run to stall, and we should see a pullback.

SPX - We have stalled and pulled back a little. A break of this trend line could bring a little more selling, but this will likely be a right translated daily cycle and we can expect higher highs on the next one too. The red line is the 50sma.

SPX WKLY - And we do see a form of topping candle on the weekly. Falling to the blue line at 2200 would also back test the break out.

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The Fed Hike Plunge

December 15, 2016 /217 Comments/in /by

Many sectors began to sell off with the interest rate hike Wednesday.  Some were sectors we expected to sell off, others were expected to snap back. Will we get the snap back on Thursday and Friday? Let's discuss what we should be looking for.

 

SPX - From Monday, the markets were outside the B.B. on a weekly basis, so I would have expected a dip by the end of the week.

spx-w-12-12

 

spx-12-14

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STOCK PICKS

December 9, 2016 /141 Comments/in /by

My weekend report covers Monday  and I usually post full reports for Tuesday, Wednesday, and Thursday morning. Most of the readers at Chartfreak know that when I started this service, I thought that whatever I wrote in Thursdays report would also be able to cover Friday, the final day of the trading week.  The readers here also know that in 2016, I got into the habit of posting a Friday report anyway.  Today is Friday, so let's just look at Stock picks!

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NAK has been on my "must have' list for much of 2016. The chart set up, that long Base, those Volume surges.  I also loved the story about their reserves and their future possibilities. I loved it and was loading up when it was 30-40cents.

NAK 7-11 wkly

NAK - After an initial strong run higher, we got a normal correction. In October I was trying again to get people to add to this set up.  I have 20 charts of NAK from 2016 reports, encouraging low risk buys all along.I expected a possible 1-2-3-4-5 wave move higher.

nak-e-w

NAK Dec 8th.  -  The first 1-2-3-4-5 was a run from 50 cents to $1. This could be a larger 1-2-3-4-5 playing out. NAK is up around 600% so far - Congrats to all who caught some of this strong move. I'm only selling a partial, and will add on future dips.

nak-12-8

Lets look at some current set ups!

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