Lets Wrap This Week Up
Another great week of trading! Lets wrap this week up...
.
SPX - Will Friday s Job report end the recent rally? We are approaching resistance.
Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
March 3 Trade Ideas
Trading has been amazing, and there are still some set ups that we can examine. Lets get to it...
.
WTIC - Starting with OIL, this looks set up to pop. I pointed out a possible bottom in oil a couple of weeks ago , and I mentioned that when Oil broke to new lows, some Oil stocks like WTI had higher lows and held up nicely.
Now look at this ...
The Beat Goes On
Yes, The beat goes on and the drums are on fire. In my last few reports, I have mentioned how we were focused on Miners and commodities lately. Did you see the Commodity stocks and especially the Steel stocks today? Many were up 15- 20+% today alone. Take a look at charts of X, […]
Not A Whole Lot Of Change Here
The markets are basically moving as expected, so without a whole lot of change, there isnt a whole lot to talk about. We'll do a quick market and then discuss some trade ideas.
.
SPX- Good follow through.
I've been discussing a rally for 2 weeks now, but where do I think this is heading?
Public Report – Update For The Golden Pennant
Many people are looking at this almost perfect Bullish Pennant forming in Gold. Many are also looking at the C.O.T. report that came out Friday and seeing bearish implications. Yes, Bull Flags can fail, but for now it remains a bullish trading pattern, so lets discuss Gold here using a few of todays charts from […]
What has been working lately?
The markets have been quite volatile and choppy, and that can be difficult to trade. At chartfreak, we've been focusing on bases and up trends, so lets do a market review and discuss this further.
.
SPX- I've been saying that I expect higher price, but this has been quite choppy. If we dont get a surge higher soon, this could become an overbought bearish rising wedge.
Weekend Review Feb 28
We reach the end of the month on Monday, so Monthly charts will come in to play too. Right now we'll take a look at how things are playing out using weekly and daily charts.
.
Public Report – Bull Flags
I wrote a report about Bull Flags for the premium members last night. Why? Questions have been raised.
.
On Feb 17th, after the recent run up in Gold, I mentioned that Gold could Pause and form a Bull Flag. These are often just a pause along the way (although they can fail).
Feb 17 - I discussed a possible Bull Flag forming after a strong run higher.
Feb 24 - We have the Flag and as mentioned, it is often just a pause before continuing to run higher.
Well on Friday Feb 24 Gold broke out and dropped. Many said Gold failed at the Bull Flag. Friday Feb 26 ( Today) Gold dropped down to $1212. Does that hurt the Bull Flag and prove it is a failure, like some are saying?
No- Let me show you 2 ideas that are not a stretch or grasping for straws. These are legitimate patterns playing out .
Is That A Bull Flag?
On Feb 17th, after the recent run up in Gold, I mentioned that it could Pause and form a Bull Flag. These are often just a pause along the way (although they can fail). So lets discuss the last few days and discuss Golds Bull Flag and other important implications that I am seeing.
.
Feb 17 - I discussed a possible Bull Flag forming after a strong run higher.
Feb 24, We have the Flag and it is often just a pause before continuing to run higher.
Then I started seeing similar bullish formations in various Miners, like TGD. This is an ascending wedge or ascending triangle, and usually plays out in a bullish break higher too. Hmmm.
Lets discuss chart patterns and look at some more Miners...
Quite A Ride
There were reversals all over the place yesterday. From the Market sell off and Oil reversing higher, to Gold and The Miners breaking out only to turn lower. What can we expect going forward?
.
SPX - Volatility has produced many reversal here at the lows, but I think they were just clearing everyone out before a run higher.
