Entries by Alex - Chart Freak

Public Report – Bull Flags

February 26, 2016 /53 Comments/in /by

I wrote a report about Bull Flags for the premium members last night. Why?  Questions have been raised.

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On Feb 17th, after the recent run up in Gold, I mentioned that Gold  could Pause and form a Bull Flag.  These are often just a pause along the way  (although they can fail).

Feb 17 - I discussed a possible Bull Flag forming after a strong run higher. 

GOLD 2-17

Feb 24 -   We have the Flag and as mentioned, it is often  just a pause before continuing to run higher.

GOLD 2-24

 

Well on Friday  Feb 24 Gold broke out and dropped.  Many said Gold failed at the Bull Flag.   Friday  Feb 26 ( Today)  Gold dropped down to $1212.  Does that hurt the Bull Flag and prove it is a failure,  like some are saying? 

No- Let me show you 2 ideas that are not a stretch or grasping for straws. These are legitimate patterns playing out .

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Is That A Bull Flag?

February 26, 2016 /88 Comments/in /by

On Feb 17th, after the recent run up in Gold, I mentioned that it could Pause and form a Bull Flag.  These are often just a pause along the way  (although they can fail).  So lets discuss the last few days and discuss Golds Bull Flag and other important implications that I am seeing.

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Feb 17 - I discussed a possible Bull Flag forming after a strong run higher. 

GOLD 2-17

Feb 24,  We have the Flag and it is often  just a pause before continuing to run higher.

GOLD 2-24

Then I started seeing similar bullish formations in various Miners, like TGD. This is an ascending wedge or ascending triangle, and usually plays out in a bullish break higher too. Hmmm.

TGD 2-25

Lets discuss chart patterns and look at some more Miners...

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Quite A Ride

February 25, 2016 /84 Comments/in /by

There were reversals all over the place yesterday.  From the Market sell off and Oil reversing higher, to  Gold and The Miners breaking out only to turn lower. What can we expect going forward?

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SPX - Volatility has produced many reversal here at the lows, but I think they were just clearing everyone out before a run higher.

SPX 2-24

In an earlier report, I pointed out this possibility, and we see it playing out...

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Buy Sell Or Hold

February 24, 2016 /82 Comments/in /by

I've been expecting a multi week rally in the markets since Feb 11, and so far it is pretty lack luster.  I noticed weakness in the SPX on Monday and mentioned that I thought this would cause the 'rally' to stall.

  I posted this chart, read the writing.

SPX 2-22

The SPX was rejected at the 50 sma.

 

SPX 2-23

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Wash Rinse Repeat

February 23, 2016 /71 Comments/in /by

Well, I had a weekend report with 32 charts and not much has changed in one trading day,  so lets do a little review and then look at some trade set ups.

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Last week we saw a healthy set up for a move higher

SPX 2-17

This week...

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Rockets

February 22, 2016 /34 Comments/in /by

We have been on a rocket ship ride for a month now in Gold & Miners.  Whenever someone posts a "Rocket" as a headline picture in their report,  we usually immediately get a pullback.  I'm ready, so I thought that I would give it a try 🙂

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This is the rocket (this was my chart from Feb 16). 

GOLD 2-16 b

We will discuss Precious Metals in a moment,  but first lets do a complete review starting with the SPX...

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Still Climbing

February 19, 2016 /35 Comments/in /by

Precious metals and especially individual miners keep climbing higher. Wave after wave, the dust buyers and shorts are getting hammered.  This wasn't entirely unexpected, that is why I mentioned taking some profits and letting partial positions ride.  This runaway , melting upward type of move can be rewarding, but cycle wise, it is will  pause or pull back soon.  We'll discuss that. The markets were moving up off of their lows too, but they stalled on Thursday.  Oil turned back down too.  To the charts...

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  It's Friday, so there isnt much to say with only 1 trading day left, but lets take a look and see what we can learn.

This was 1 of my 2 Gold charts from Thursday mornings report. Gold actually hit $1240 as the day went on, so it looks like that flag pattern could form.  While it does look like that Flag pattern could form, I actually think we may see something else too.

GOLD 2-17

Let me show you what I think is happening now...

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Public Post – OIL & GOLD

February 18, 2016 in /by

I'm going to share a portion of the premium report from Tuesday.  We had been invested in Miners from the shake out lows, but most of what was bought has had a spectacular run higher.  Now that there could be a consolidation phase in precious metals, does anything else look interesting?   Have you seen  VALE, FCX, CENX, etc?  Commodities are making some nice steady gains. I'm also looking at The Energy Sector among other things.  From Tuesdays report...

 

I think OIL is putting in lows  (temporary or permanent remains to be seen).   Lets discuss a few ideas as to why I think we are at lows in Oil. 

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On November 13th ,  I said that my OIL WKLY target was $26.09

WTIC WKLY 11-13

Did we hit $26.09?

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Mary, Mary, Quite Contrary, How…?

February 18, 2016 /69 Comments/in /by

Even in the toughest of environments, we see seedlings take root and blossoms shoot up. We also see the same thing happen in the toughest environment in the markets.   At the time it may seem quite contrary, but this is also how bear markets can turn into Bulls.  Are we seeing that now?  lets look at some charts...

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Starting with the SPX. We have expected this rally , but will it lead to new highs, or will it roll over?

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I think that this move is just starting and it can last for a couple of weeks.   Notice how the Rally in October didn't lead to new highs and broke down to lower lows. We have lower highs and lower lows in the markets now. I have drawn in several resistance points and we will see how the markets react as time goes on. This is NOT near a point that I would short it.  I would remain long,  maybe lighten up in a week or so. The BLUE BOX is an idea of what we may see.

SPX 2-17

We will obviously discuss what's unfolding as time goes on, but take a look at this...

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