Author Archive for: Alex - Chart Freak

And the good news is, I see quite a few bears falling asleep again. Our trading has been fantastic in 2016, especially in the beaten down Precious Metals sector, Commodities like Steel and Aluminum stocks did well, and Oil and Energy. The bears had attacked these sectors for quite a while, but now it seems that when one sector runs strongly and then gets a little tired, another one that was selling off  begins perking up. That seemingly bearish selling fades and the baby bear goes to sleep, allowing us to do some sector rotation in our trading.

This weekend we'll discuss which bears look to be calling it a day, and also review Gold, Silver, and Miners. We should discuss what happened Friday and whether it is the start of something big, or just a little noise.  lets review...

.

SPX - We've been watching this constructive consolidation for a while. This was the Aug 1st chart.

SPX - The Jobs report gave it the needed boost to put any thoughts of a bearish drop to sleep for a while. The dip 3 days ago was likely a 1/2 cycle low of this daily cycle.

Lets look at the weekly chart ...

Read More

Things still seem to be progressing along in the various sectors of the market that we have been following. Lets take a look.

.

SPX - This sideways move is really a bullish consolidation. As time goes by, we get deeper into the daily cycle, but this is holding up rather bullishly. On a wkly chart, it is forming a very bullish pattern.

Tuesday we saw this  back test on the NYSE, and it held and reversed higher Wednesday.

Read More

SPX - The SPX has been consolidating sideways and Tuesday it started to sell off a bit more. I mentioned that we could get a back test, but it recovered a good amount into the close.  So not a whole lot has changed here  (again).

A bit of a different look for the DOW and the NYSE  🙂

Read More

We've been seeing some strong Bulls running in 2016, and I dont think that the show is over yet. That is great news, lets take a look in our weekend review...

SPX - We've seen a break out to new all time highs and a sideways consolidation for weeks.

SPX WKLY - Possible back test or it may just break out higher. If it just keeps going sideways and dips down into a dcl, the back test could occur then too. We'll watch it as it plays out.

Read More

Hang on, They're running again!

.

I 'm going to skip the general markets and get right to Oil and  Precious Metals. Why? This is a chart from yesterday, and again, nothing has changed.

Read More