Author Archive for: Alex - Chart Freak

Things still seem to be progressing along in the various sectors of the market that we have been following. Lets take a look.

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SPX - This sideways move is really a bullish consolidation. As time goes by, we get deeper into the daily cycle, but this is holding up rather bullishly. On a wkly chart, it is forming a very bullish pattern.

Tuesday we saw this  back test on the NYSE, and it held and reversed higher Wednesday.

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SPX - The SPX has been consolidating sideways and Tuesday it started to sell off a bit more. I mentioned that we could get a back test, but it recovered a good amount into the close.  So not a whole lot has changed here  (again).

A bit of a different look for the DOW and the NYSE  🙂

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We've been seeing some strong Bulls running in 2016, and I dont think that the show is over yet. That is great news, lets take a look in our weekend review...

SPX - We've seen a break out to new all time highs and a sideways consolidation for weeks.

SPX WKLY - Possible back test or it may just break out higher. If it just keeps going sideways and dips down into a dcl, the back test could occur then too. We'll watch it as it plays out.

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Hang on, They're running again!

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I 'm going to skip the general markets and get right to Oil and  Precious Metals. Why? This is a chart from yesterday, and again, nothing has changed.

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Sometimes what looks and feels like a big drop turns out to just be a small dip in the action. I think that we are seeing that in Gold and Miners now. We'll discuss that after a brief market review.

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SPX - I've been expecting a small dip here, possibly back testing the break out after a measured move finishes.  That may or may not happen. A sideways consolidation can also act as pause before continuing higher.

SPX - Holding the 10sma is bullish in a run out of the ICL. Temporarily breaking below it and recovering is fine too, I'm just pointing out the recent strength here. 

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