Entries by Alex - Chart Freak

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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Tricky Track

September 14, 2015 /60 Comments/in /by

In an earlier report I asked, "Are we still on track?" It would take time to know for sure, but things are still playing out well in some areas, yet a little trickier in others. Lets look at charts.

SEPT 2 -  I pointed out this topping action and said to expect volatility, possibly even sideways for a long period of time.

20015 Topping SPX

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

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On The Right Track?

September 10, 2015 /219 Comments/in /by

I wanted to post a picture of something where glue was just melting and everything was becoming unglued, because Wednesday morning I saw quite a bit of Green on my screen and by the close things become a little unglued.  So it raises the question,  "Are things still on the right track?"  Lets look at the charts.

DJIA - Wednesdays rally hit the 20sma and back tested that down trend line, and then promptly gave it up.  I actually think this type of action could lead to a nice post Fed rally next week. For now it is difficult to trade.

DJIA 9-9

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Timing The Trade

September 9, 2015 /69 Comments/in /by

Now that we have seen some steady selling in various areas of the markets, some set ups look ready to buy again. Before discussing these set ups, lets review the markets in general.

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NASDAQ - After the steep drop, we usually see some consolidation and chart repair under the 10sma. Eventually if you get a break back above that 10sma, price often continues higher. We could break back inside this channel, but it was the start of a downtrend. Trading is no longer buy & hold for many.

NAZ 9-8

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ANOTHER STEP CLOSER

September 8, 2015 /108 Comments/in /by

Lets see how the various market sectors continue to march toward their next big move.

SPX - Many thought that the recent sell off would recover straight up like the one on the left last October. Did you notice the back tests recently? These are acting like resistance points.

SPX 9-4

Lets look closer...

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Why?

September 4, 2015 /91 Comments/in /by

I dont always do a Friday report, because the Thursdays report usually also covers what could follow through on Friday. Since Friday is the last trading day of the week,  the weekend report covers it all.   I wanted to write one today - Just Bcuz.

SPX - This could be a consolidation to push higher or could be forming a bear flag.

SPX 9-3

Yesterday it was noted that even when the markets were higher in the morning, the usual suspects were not joining in. That would be F.B., GOOG, AMZN, etc.

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Target Practice

September 3, 2015 /2 Comments/in /by

The following are a few of the charts I’ve posted in recent  Premium section of the website.  I believe we may be seeing a major shift in the markets and the recipients of future money flow just may surprise many. Hint: They have been targeted on the short side for many months and in some […]