Entries by Alex - Chart Freak

STILL WAITING – OCT 7

October 7, 2016 /122 Comments/in /by

We are still waiting and maybe, just maybe, the Jobs report FRIDAY before the bell will act as a catalyst. Lets discuss why it would be great to see the futures in Gold higher before the market opens.

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$GOLD - To start with, we have been expecting this type of a deep sell off since the summer. This is becoming deeply oversold, from the Brexit buying to this recent steady exit.

gold-10-6

This is what I wanted to point out for Friday...

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We Were Not Caught Off Guard

October 5, 2016 /177 Comments/in /by

If you have been here for a few months, then you know that this is what we have been waiting for.  Lets review.

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GDX -  Way back in August I started to ready us for a deeper pull back than many at that time would think is likely. You may recall that I kept saying that a solid target was $22-$24 and I said to look for that steep drop at the end of September or beginning of October.

This chart from Aug 22 is an example of me preparing us for a coming buying opportunity. I expected a bounce first, then a steep drop.

GDX 8-22b

My Weekly chart showed GDX broke the weekly uptrend line. A wkly trend line break for an 8 month trend is 'ugly', and indicates that a yearly cycle low is coming.  That magenta box became the likely target after that bounce at $22-$24 shown  in Sept/ Oct.   We would monitor things a little closer when we got there.  

GDX 8-27 wkly

We are there, time to monitor things a bit more closely. 🙂

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GOLD & ENERGY OPPORTUNITIES

October 4, 2016 /6 Comments/in /by

Our recent weeks of trading have had a lot of choppy sideways action, and this gets frustrating to both the longs and the shorts.  My premium reports discussed how that choppiness was ending in Oil, and we began looking at buy set ups forming in the energy markets. I wanted to share my thoughts on […]

WEEKEND WRAP UP Oct 1

October 1, 2016 /39 Comments/in /by

Our recent weeks of trading have had a lot of sideways chopping action.  My last report discussed how that was ending in Oil, and I think that the choppy action is about to end in the general markets too. Lets go to the charts.

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SPX - As price approaches an Apex we should see a nice break out and run. There is a lot of pressure built up in this consolidation. A break down could get ugly fast, but this leans bullishly at this point.

spx-9-30d

 

SPX WKLY - This looks similar to the 2011 sell off, break out and back test in 2012.

spx-9-20-wkly

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Attention Please

September 29, 2016 /106 Comments/in /by

After all of the sideways chop, I think we finally have something interesting to talk about. 

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SPX -  If Oil could get moving higher, I think we'll see the markets moving higher too.  After all of this sideways chop ( in many sectors), this is a bullish set up with todays strong reversal.

spx-9-28

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Does Anybody Wants More Chops?

September 28, 2016 /147 Comments/in /by

I've seen choppy markets before, but it seems like Oil and Gold are up one day, down the next , up one day, down the next.  It can be very difficult to navigate the choppiness, but Cash is also a position until we get a nice trending market.  Other trade set ups are an option too. Lets take a look at the charts.

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SPX - Short term I see a choppy triangle forming, and the larger picture might be forming a rising wedge. We can look for follow through with a break down or a break out.

spx-9-27

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