Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
BOOM – Gold and Silver
It's what we at Chartfreak have been expecting, but I think there could be even more to the story 🙂
More later in the report, lets review all market sectors first...
Golden Delivery
The Precious Metals markets have been tricky lately, selling off to new lows day after day. There were clues along the way that were foretelling the big move that we see today. You can read my last report here under the public blog to see what I was looking at and expecting. This update will give add recent charts used in this weeks reports.
GOLD DEC 2 - Prices kept hitting new lows, but the Miners were staying above their 10sma. I was pointing out that the rising MACD and the C.O.T. report were actually just a couple of the Bullish signs indicating that soon Gold & Silver should rally higher.
This is the GLD today
U Turns
What a week! The Fed spoke on Wednesday, Thursday we saw Draghi shaking things up, and now on Friday we will have the November jobs report and The OPEC Leaders will discuss whether or not to cut production. Yesterday we saw some U-Turns in the market place and it's not like they dont have further implications. Lets review.
SPX - I recently started pointing out weakness in the rise of the markets and the Dollar. These were from Dec 2.
USD Dec 2 - Bearish
Now lets see what happened and discuss what the implications going forward might be...
Keep It Simple Stupid ( K.I.S.S.)
There was a lot of action in the markets today, maybe that was due to the Beige Book and Fed Yellen Speech . Reminder: DRAGHI speaks Thursday morning and we have a jobs report Friday morning.
I wanted to just keep It Simple today, and let the charts do the talking. Lets see what they have to say...
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SPX - Dec 1 - I was pointing out that the chart looked bullish, but as it moved higher the MACD was 'concerning'.
SPX - Now both Price and the MACD are concerning. That could be a bearish engulfing, even though the futures are pointing higher as I write.
Read on for more...
Beige Book
Just a reminder that the Fed will be speaking at 12:45
Leaders And Laggers
I believe that today the Beige book is released and Janet Yellen speaks. Will that change current conditions in the market? We'll see, but right now in a sector that sold off to new lows, we are seeing leaders emerge. We'll discuss that after a brief review of the markets.
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SPX - I'm noticing a weak MACD ,but the RSI looks good. I still think that the markets can break to new highs, but being the 3rd daily cycle I also think that the upside may be capped a bit for now. Notice how the 10sma held the decline.
Public Post – Whats Happening With Gold?
I received a good number of emails where people said that they were “Going short for the final plunge in Gold below $1000!”. I’m not saying that that plunge wont come, but does the evidence point to last weeks break down being the signal to go short? Lets look at some charts and see what […]
Did You Short The Gold Break Down?
In my weekend report I warned about a possible false break down in Gold. I received emails saying that many 'shorted this sucker for the final flush down phase'. I repeat, Please use & honor your 'stops', I see things differently. I'll explain after a market review.
The SPX was looking bullish and I expected a break to higher price, but today there are areas that need to be noted and watched.
IWM - This also had a semi high volume rejection at the 200sma. That doesn't mean that it is done, but we'll watch to see if the 10sma or another area of support can hold it up.
Here is where it gets interesting...
Light Holiday Trading?
This was possibly going to be a slow week of holiday trading, with Thursdays markets closed in the U.S. and 1/2 day Friday. In some areas we actually saw some noteworthy changes. Lets take a look at our weeks activities.
SPX - No change from what we expected, but we should see a push higher soon.
