Entries by Alex - Chart Freak

Pre-Fed Syndrome Again

June 14, 2016 /65 Comments/in /by

Monday we saw a little more selling in the general markets as we approach the Fed meeting Wednesday. I have been bullish for a possible break out to new highs,  but recent action is less bullish and it may be that we wont know for sure until after Fed Wednesday. Tuesday may also be a little bit boring ahead of the Fed.

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The SPX -  This looks a bit better than the DOW, NASDAQ, And BKX at a glance, but notice that it looks to be dipping into a daily cycle low. MAYBE the Fed Wed decision will hold it at the 50sma and set a new trend line, but right now, this warrants caution.

SPX 3-16

The NASDAQ  is a tad weaker

NAZ 6-13

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June 11th Weekend Report

June 12, 2016 /39 Comments/in /by

After we review the general markets, Oil, the CRB, etc, this weekend report will focus mainly on Gold, Silver, and Miners. To the charts...

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SPX - This is a Fed Week, so I am watching the markets very closely at this critical area. This is rather early in the daily cycle, and if this is "the Peak', it will likely be left translated. We saw a slight break to new highs and then it gave them up. On day 15, I'll we watching this closely going into the Fed mtg.

SPX 6-10

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Precious Metals Primer – A peek into the next phase

June 10, 2016 /39 Comments/in /by

Precious Metals

You may have heard that you should not buy precious metals miners until after a ‘blood bath phase’. I mentioned within my (premium May 18) report that I have received emails telling me that warnings are out that the next Intermediate Term Cycle Low (ICL – A cycle low that occur every 5-6 months) will not come until we first see a huge sell off within precious metals. Many think that it will instead occur around the Brexit vote (June 23rd).

Today, I would like to share with you just a brief excerpt on what I’m looking at here within the precious metals sector. And within my coming weekend member report, I will be going into much more detail on what one should expect in the coming months.

Below is a chart that shows what happened coming out of the 2008 lows, when many were also looking for a an ICL and “blood bath” sell-off. As you can see, advances out of bear market lows do not follow the typical script. Simply put, there was no blood-bath to be found around six months after the Oct 2008 lows.

Precious Metals Primer – A peek into the next phase – chart freak

Friday June 10th

June 10, 2016 /121 Comments/in /by

We have 1 trading day left in the week and then we can relax.  The weekend report will further our discussion on Energy and Precious metals, so today I am going to just show you 3 charts that will be in the weekend report.

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You may have heard that you should not buy miners until after a 'blood bath phase'. As mentioned in my May 18 report, I have received emails telling me that warnings are out that the next ICL ( meaningful cycle lows that occur roughly every 5-6 months) will NOT come until we first see a huge sell off.  Many think that will happen around Brexit ( June 23rd).

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I used this chart to show what happened coming out of the 2008 lows, when we looked for our 2nd ICL. I do NOT see a deep bloodbath phase 6 months after Oct 2008 lows. I see higher lows for 1 year, so that is noteworthy.

GDX 2008 ICL SEARCH

 Actually, for 2 weeks I have been saying that we could be at the next important low in the precious metals sector. Last weekends report discussed this idea further and this weekend will include more research in that area .

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June 8 – Coming Together

June 9, 2016 /147 Comments/in /by

The trading has been good for the past few weeks and as time goes by, we are seeing many things coming together as expected.  By the time we get to the weekend report, pieces should fall into place and give us a clearer big picture too.  Lets review some of the recent action and how it has been playing out.

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DJUSST WKLY - I posted charts of STEEL in May and June and expected another run higher. Steel stocks should benefit. 

6-2 STEEL WKLY

STEEL - This is the daily.  Lets look at steel 1 week later. Steels daily 1 week later.

6-2 STEEL

STEEL JUNE 8th - One week later and Steel is breaking out.  Steel stocks like STLD, AKS, X, etc have started running again too.

STEEL 6-8

Notice how Steel broke above the 50sma, stalled and then took off higher? Then take a look at this...

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June 8 – Energy

June 8, 2016 /92 Comments/in /by

We've been discussing Oil and Energy among other things recently, and I wanted to mention what I am noticing in this sector lately.

WTIC - Over a month ago, I had a target of $51.60.  I felt that Oil may struggle at the $50 area and pull back before moving higher. A drop into a Daily Cycle Low would be the red path shown.  The Green path is possible too.

6-8 WTIC

We do see that struggle at the $50 area, but here is something to consider...

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June 6 – Lining Up

June 7, 2016 /79 Comments/in /by

Everything that we have been discussing is still lining up. Lets review...

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SPX - I have been expecting a bullish rise since the lows in February, and a higher high after the DCL.  Quite interesting that even after a very weak jobs report Friday,  the chart remains bullishly lined up. 

6-6 SPX

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June 4 Part 2 – The Golden Egg

June 6, 2016 /99 Comments/in /by

This is part 2 of our weekend report, and it will focus on the Precious Metals Market.  In Last weekends report, I pointed out this very important chart.  What was I trying to draw attention to? 

 

GOLD- Using Cycles, the Intermediate Cycle Low (ICL) , a very meaningful bottom, has been arriving every 4-5 months. I pointed out that at 6 months from the Dec 3rd ICL, a very important low is due.  Gold was not plunging deeply into its low,  so many were not buying,  they are waiting for that deep pullback. Would it be that easy to get 'low priced Miners' again? I thought we would see the ICL in 1 or 2 weeks. Here we are, 1 week later.

GOLD 5-28 ICL

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June 4 – Shocked

June 4, 2016 /13 Comments/in /by

I believe there were a lot of shocked faces Friday after the release of the Jobs Report. The Dollar absolutely tanked and Gold surged higher. In fact,  GDX was up over 11% by the close. Was it completely unexpected here at Chartfreak?  The dramatic fashion that things occurred was a little surprising, but I have been focused on Miners again since last weekends report. I said in last weekends report that  " It is time to focus on Precious Metals again".  I mentioned that the "Timing" was due for a low and in each daily report I tried to point out more evidence that something was coming.  Today, we will discuss this even further.  Lets get right into the market review.

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SPX WKLY -  Nothing has changed here. We dot our DCL and now we are waiting for a break to new highs or failure.

6-4 spx

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