Entries by Alex - Chart Freak

Golden Delivery

December 4, 2015 /1 Comment/in /by

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.

GOLD 12-2

This is the GLD today

GLD 12-4

 

 

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U Turns

December 4, 2015 /45 Comments/in /by

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.

SPX 12-2

USD Dec 2 -  Bearish

USD 12-2

UUP

Now lets see what happened and discuss what the implications going forward might be...

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Keep It Simple Stupid ( K.I.S.S.)

December 3, 2015 /60 Comments/in /by

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 12-1

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.

SPX 12-2

Read on for more...

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Leaders And Laggers

December 2, 2015 /19 Comments/in /by

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.

SPX 12-1

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Public Post – Whats Happening With Gold?

December 1, 2015 /5 Comments/in /by

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?

December 1, 2015 /48 Comments/in /by

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.

SPX 11-30

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.

IWM 11-30

Here is where it gets interesting...

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Light Holiday Trading?

November 29, 2015 /20 Comments/in /by

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.

SPX 11-27

 

This is encouraging ...

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Bullish Changes

November 25, 2015 /33 Comments/in /by

Today is Wednesday and the last full day of trading this week for the markets in the U.S.  There were some bullish looking moves yesterday, some expected and another was a little surprising. Lets review. 

SPX -  I expected a little drop, likely to the 10sma, and a BUY opportunity for UPRO, TQQQ, or another long vehicle that you may trade.

SPX 11-24

I posted this chart of UPRO yesterday, using the 10sma as a guide. The 2nd one was at the close.

UPRO 11-23Upro 11-24

That was a perfect "Buy" opportunity, but It could still be bought here if you missed it.

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Slow Week Ahead?

November 24, 2015 /27 Comments/in /by

  This is a holiday week in the U.S., so I would expect that the markets may begin to slow down as the holiday approaches. Lets review what took place Monday.  There actually were a couple of noteworthy occurrences since the weekend report.

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