Entries by Alex - Chart Freak

Gold Is Jumping

September 24, 2015 in /by

Yes, Gold is jumping, but we’ve seen that before, right?   The question is , ” Will it make it to it’s intended target, or land flat and flounder around like a (gold) Fish out of water?”   Here at Chartfreak, we have been waiting for this next leg higher. Lets review some of the charts […]

Clear As Mud

September 24, 2015 /94 Comments/in /by

Whenever we get mixed signals in the markets, it may take time to  allow  things to clear up. We are seeing that with the divergence between Metals and Miners right now, but until time resolves the differences, we can also look for clues. We'll do that here, but first lets review a few other sectors.

NASDAQ - We got the back test that we expected and then the drop back down. I expect the Aug lows to be tested or broken, but you can see that volatility has kept things from being a smooth move. We may bounce around inside this down channel too.

NASDAQ 9-23

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Watching

September 23, 2015 /98 Comments/in /by

We are still keeping an eye out for various signs in these markets. Lets take a look...

TRAN  - I posted this wdge as a warning in Monday nights report

$TRAN 9-23

TRAN -  There was some follow through. 

TRAN 9-22

The selling was  not on very heavy volume, so I am starting to think this move is going to drive longs and shorts crazy, here is why -

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Pulling Back

September 22, 2015 /81 Comments/in /by

Our positions in the Miners are pulling back, but it is a slow pull back so far. This pullback  was expected. We'll discuss what to expect later in the report, but lets start with the pull back that came in the equity markets first.

SPX - It started with a shooting star and the stochastics indicate that we could see more downside.  In fact, I have mentioned that I expect a test of the 'high volume candle lows' sooner or later.

SPX 9-21

 

The TRANNIES looked pretty strong re-gaining that 50sma, but they've done that before and a rising wedge is bearish. Notice the shooting star candles at past tops?

$TRAN 9-23

 

OIL is playing out as expected too...

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Lets Check This Puppy Out

September 21, 2015 /104 Comments/in /by

Lately things are playing out as expected, but it's always good to check this puppy out and see what is happening along the way. 

I didn't have a Friday report post Fed,  because I had 2 reports on Thursday.  Lets review charts and see how things played out.

My NASDAQ chart from Sept 16 -  Many were thinking that the markets were ready to rally to new highs after the Fed decision.  I saw a rising wedge and a lot of resistance.

NASDAQ 9-16

NASDAQ Sept 17  ( Fed day)  Rejection at resistance.  This was saying to short the markets.

NASDAQ 9-17

NASDAQ  - Friday Sept 18 , The day after the Fed Decision. This is still within that wedge, but that was a high volume drop and there is a lot more room to drop stochastic-wise.

NASDAQ 9-18

This was the SPX on Thursday Sept 17.  Price was rejected

SPX 9-17

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Is Your Basket Empty?

September 17, 2015 /105 Comments/in /by

As mentioned in last nights report, we saw an explosive move in Commodities yesterday one day before the Fed Decision. That caught a lot of people who were not in front of their screens flatfooted. Last nights report also pointed out that it looks as though what we have been expecting to occur during the Fed Speech is beginning to play out.  Lets go shopping and see if we can find some low risk entries developing in OIL and Precious Metals.

Lets re-visit WG.  Rather low priced, I recommended this beaten down Energy stock here at $0.80 and $1.00 in early Sept.

WG

It Popped and ran to $1.80 rapidly and now has formed a bull flag type pattern, landing on the 10sma.  You could buy this with a stop under the 10sma as a low risk entry. 

WG 9-16

Lets keep shopping...

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Fed Thursday! On Your Mark…GO?

September 17, 2015 /14 Comments/in /by

Earlier this week  I certainly thought that the markets were waiting for the Fed Decision on Thursday before making any big moves. Today Oil, Energy, and Precious Metals jumped the gun and were off and running!  We'll discuss more than just those  areas, but first lets revisit what we were watching for.

WTIC - The set up was a Bull Flag pinched between support & resistance. Normally I would buy this with a stop below support, but I cautioned that the Fed Mtg Thursday may cause whip saw. 

WTIC 9-15

Oil is not waiting for the Fed Mtg.  Many energy stocks were up over 10% and some were 15-25% today alone. 

WTIC 9-16

 

I will post some charts of energy stocks set up nicely at the end of the report.

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Almost There

September 16, 2015 /122 Comments/in /by

Mondays trading  was a little like watching paint dry in the markets and Tuesdays wasn't a whole lot better.  You can bet that  things will pick up at all when the Feds decision on interest rates is finally handed down on Thursday,and  it's almost here.   Lets look at what we have so far.

SPX - Tuesdays move gives it the look that it wants to break higher.   If it does it may just back test of the break down.

SPX 9-15 2

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FED- EX (pectations)

September 15, 2015 in /by

I'm sorry if you came here hoping to hear an opinion on the FED EX company.  I am actually  here to point out that I am expecting some strong movements later this week as a result of the FED EXPECTATIONS.   Some are expecting an interest rate hike and others are expecting no change.  So far we are seeing a sideways move in most markets leading up to that big day this Thursday.   I wanted to share some charts that were in my recent weekend report. They may help us to anticipate  the reaction after Thursday.  Lets look at charts.

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SEPT 2 -  I pointed out the topping action in the markets last Spring & early Summer.  After the initial drop, it should likely lead us to expect volatility, possibly even sideways for a long period of time. We have that now.

20015 Topping SPX

I want to point out what I am looking for next...

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