Author Archive for: Alex - Chart Freak

Gold, Silver, and Energy stocks have been bottoming and some have begun adding nice %-Gains already. I had warned that if we didn't take a position, it might get very hard to do so. Why?  We might see what is known as an Island Bottom. A Gap open higher that may not fill.  I used this chart yesterday to point that possibility out.

Lets review some charts of Gold, Silver, and Energy stocks for potential entries...

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I was very happy to see the steps that the Metals and OIL markets took as the day went on. We will discus those steps in detail further on in the report, but first lets take a look at one of the major players in todays movement. 

USD - many were saying how strong the DOLLAR was looking, but I was writing that it looked weak internally, since mid July. This should bode well for Commodities.

Notice the next chart of the Dollar...

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Quick thoughts...

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When dealing with Cycles, there are times that they are getting s-t-r-e-t-c-h-e-d, and other times when the count has simply started over.  Right now in the Precious Metals markets we are facing that situation, so lets discus that further after we review some other areas of the markets.

 SPX - more sideways action. Yesterdays rally attempt sold off

Lets look at the NASDAQ...

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I wanted to get this report out tonight ,  so it's just going to be a quick review of todays market action and a bit more on GOLD and MINERS.

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DJIA - The Good news was that todays sell off ended with a reversal candle

But there are cracks in the armor for now. Notice above the downward sloping channel with lower lows and lower highs?  Also notice...

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