Entries by Alex - Chart Freak

Reversals, Volatility, and Trading

September 13, 2016 /119 Comments/in /by

When the markets get volatile, trading short term can be difficult for some. Buying low one day works out well, and then you may find yourself watching the gains evaporate in a quick drop. Friday was a quick drop and then Monday was a rip higher for the general markets, and Energy and Precious Metals are also a bit jumpy. Lets take a look and see what we can see in the charts.

.

SPX - With Fridays drop, I said in the weekend report that many would want to go short, but WE are looking for a DCL almost immediately. Timing was late for a low, and that could be capitulation into a low. I mentioned obvious support areas for a reversal on this weekend chart.

SPX 9-9

This chart pointed out that a 1 week  sharp drop like we just saw could reverse and not have follow through  (red Arrows) .

SPX WKLY 9-9

SPX -  We got a fast reversal almost regaining all of the losses. Those going short Friday got burned. This may back off a bit and then surge higher through the 50sma in time.

SPX 9-12

Read More

Sept 10 Weekend Report

September 11, 2016 /53 Comments/in /by

This week ended on a sour note if you were long in various sectors. With the Fed decision coming up, investors seem jittery or anxious to lock in profits.  Is this the start of a new sell off , or just another small ripple in the large sea of investments? Lets examine the charts...

 

SPX SEPT 6th-  I thought that we finally got our DCL on that slight dip to the 50sma, and I will address that in the next chart. This LOOKS like the start of a major sell off, but ...

SPX 9-6

Read More

Sept 3 – WEEKEND REPORT

September 4, 2016 /117 Comments/in /by

Knowing that my readers are both short term traders and longer term  investors,  I want to always look at the charts and view them with a long term, medium term, and short term perceptive.  At times all 3 views are sunny or all are murky, but in times like these, I also get a mixed bag. Lets review the charts and you will see some good and some questionable things in various sectors. This can help to sort out our short term and longer term investments.

.

Back before Aug 26th and on this Aug 26th chart, I mentioned that we could see price continue sideways until it tags the 50sma, or maybe even break it in shake out fashion.

SPX 8-27

SPX - Each sell off is met with buying reversals, so this reversal with the Jobs Report "might" be enough to put in the daily cycle low. If so, this should break out & continue higher, instead of more of this 2 month choppiness.

SPX 9-2

Read More

Grand Designs

September 2, 2016 /141 Comments/in /by

I dont always need to know 'How?' or 'Why?' it happens.  Just like the formation of this flower, grand designs and patterns grow and develop within the markets cycles and within nature.  We watch and  wait for things to play out and right on time, we get our completed Grand Designs. Lets watch how things are playing out...

.

I'm starting with the USD today.  In the weekend report,  I mentioned that I didn't really expect the USD reversal to get too far.

USD WKLY 8-27

2 days ago we found ourselves on day 8 of the daily cycle. Expecting that it should become L.T. and roll over, we pointed out the 200sma as possible resistance. The chart looks bullish, so will that pattern of being a L.T. Daily cycle play out?

USD 8-30

USD - Thursday we saw the USD drop pretty hard and even lose the 50sma again.  We'll see what happens after the JOBS REPORT FRIDAY. This $USD drop bottomed Gold. All we need is a little follow through. 

USD 9-1 a

USD LONGER TERM VIEW -  Even if the JOBS report gave the USD another burst higher, I do not see it taking out the overhead trend line.

USD b

Read More

Same Old Song And Dance – So Far

September 1, 2016 /120 Comments/in /by

Fridays jobs report may change a few things, but so far the charts are showing the same old song and dance...

.

SPX -  Not much change here (I added a Thursday candle and a Friday candle as a possibility of tagging the 50sma).Jobs report Friday may give us our directional move. Many expect this to burst higher and run, but at this point, the Vix Chart looks rather bullish.

SPX 8-31

Read More