Entries by Alex - Chart Freak

AUG 21 Weekend Report

August 22, 2016 /48 Comments/in /by

Looking forward...

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SPX - The squeeze on the Bollinger Bands usually leads to a strong directional move.

SPX 8-20 b

You can see that we are consolidating in a bit of a triangle / wedge and heading into the apex. A break out 1 way or the other should occur soon. A break out higher could lead to a runaway move ...

SPX 8-20 a

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The Force Awakens

August 19, 2016 /65 Comments/in /by

And as predicted, it is a force to be invested in  🙂

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WTIC - Many doubted that Oil could come back so quickly, some on CNBC were saying that it would not make it past $44.  With an ICL in place, there is no doubt that this chart shows us....The Force Awakened. 

wtic 8-18

We have been investing in Oil/Energy since I pointed out some nice set ups over 2 weeks ago. Some of these gains are already satisfying. Is this it? Will Oil only double top like I hear some saying? I will discuss the potential briefly here and in the weekend report.

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Just A Minute

August 17, 2016 /83 Comments/in /by

Fed Minutes are released today. We have seen a few sideways moves in various sectors, maybe this will be a catalyst for a directional move.

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SPX - If you re not long or short, don't jump the gun. After a long consolidation, the move can be prolonged, and I have actually been expecting a dip into a dcl. I dont think that the early Aug dip on day 25 was enough.

 

SPX 8-16

 

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The Eye Of The Beholder

August 16, 2016 /123 Comments/in /by

Not much has changed since the weekend report, and we are still seeing once semi-ugly charts becoming diamonds in the rough. Let's review...

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SPX -  I personally took a long trade after calling the ICL in June  ( And pointing out the 3 white soldiers very bullish pattern),  I didn't stay long  during the long sideways move started getting drawn out.  I still expect a dip soon into a dcl, though this break out does have an occasional pop higher out of the sideways consolidation.  I think you are looking at 1-2-3-4-5 completing for now.   It may become a buy the dip in the future.

SPX 5-15

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WEEKEND REPORT Aug 14- TORN

August 14, 2016 /46 Comments/in /by

The past few weeks of trading have been very good. Active traders have been able to find set up after set up, especially in Miners and now Energy. Some that Bought Miners in late May and Early June are still reaping rewards, and we have been looking at Energy trades for the past 2 weeks too. I am just a little torn about what I am seeing in some areas.  For example, The General Markets broke to new highs and consolidated, but the VIX is very low. Also I've mentioned the  lack of follow through in Golds Pop at the open for the last 3 days, etc.  Lets go through our weekend update and review our weeks activity.

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SPX - After a long sideways consolidation, we had a pop and basically more consolidation.

SPX 8-12

The Markets should have a strong move after such a long consolidation, but so far they are just continuing sideways and the VIX is at a point that usually ushers in a temporary top. Cycle-wise, we are due for a DCL soon,  so I'd expect that we get a drop soon.

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SPX WKLY - That drop could back test the break out or the 10ma.

SPX WKLY 8-12

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Scoop Them Up?

August 10, 2016 /132 Comments/in /by

Along with our market review, I want to discuss some of the selling we saw in Oil and Energy stocks Tuesday. What are we looking for in the pull back that we see?  Should we be scooping them up, or not? Lets review our markets...

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