Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
Tuesdays Tremors
The Markets are basically all over the place since the Fed Rate Hike and Tuesdays drop in some sectors seemed to come out of nowhere. At this point in time, I want to review expectations past and expectations now.
SPX - On March 7th, We were looking at a drop into a dcl. I expected it to possibly tag the 50sma and slightly break the trend line, as shown in this chart.
SPX - 1 week later we had a bounce and it looked like the dcl came in and we got our swing low. I still hold to this idea, but when you get a daily cycle as right translated as the last one was, you look for a POP to new highs and then it can roll over. See what I wrote on this chart.
So after a bounce to new highs, we would look for the markets to roll over into an ICL .
SPX MARCH 21- We did not get our push to new highs before the markets just took a sudden plunge. This looks like a drop into an Intermediate cycle low (ICL) has started, the multi-month trend line has been broken. The low that I labelled as a dcl has been broken. It would be best to watch how this drops and see if the next swing low sets up a BUYING opportunity.
Lets look at a few other things in this area...
Tuesday March 21
SPX from the weekend report, I think we'll get another run higher soon.
SPX - I'm Still expecting that run higher, and I would have a stop under the dcl at 2350
March 17th Weekend Report- Thinking Out Loud
Let's go over the markets and see what may or may not have changed with the Fed Rate Hike this week. 🙂
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This was my MARCH 10th SPX chart- I expected the general markets to drop back a bit more on the pull back, and then to put in another run higher. It would then be in the timing to roll over into an ICL as shown.
Friday 3-17-2017 TRADES
The markets have not changed very much from the Thursday report, and I'll be discussing the bigger picture in the weekend report, so today after a brief GOLD & MINERS discussion, I want to just discuss a few trades.
Post Fed Explosions
We got a Fed rate decision, and we got some Fed Decision follow through. It clears things up in the short tern time frame and makes it easier to see what is going on,. Let's see what Wednesday brought our way.
SPX March 9 - I was looking for a shallow DCL The RSI started curling upward while price was dropping...
SPX MARCH 10 - A swing formed and the dcl was due and likely in place.
Now we have a confirmed DCL, as seen here
Tuesday 5-14-2017
The weekend report said it all, this is just a quick update
March 11 Weekend Report
"Yes, there are two paths you can go by,
But in the long run,
There's still time to change the road you're on."
