Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
Leaders And Laggers
I believe that today the Beige book is released and Janet Yellen speaks. Will that change current conditions in the market? We'll see, but right now in a sector that sold off to new lows, we are seeing leaders emerge. We'll discuss that after a brief review of the markets.
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SPX - I'm noticing a weak MACD ,but the RSI looks good. I still think that the markets can break to new highs, but being the 3rd daily cycle I also think that the upside may be capped a bit for now. Notice how the 10sma held the decline.
Public Post – Whats Happening With Gold?
I received a good number of emails where people said that they were “Going short for the final plunge in Gold below $1000!”. I’m not saying that that plunge wont come, but does the evidence point to last weeks break down being the signal to go short? Lets look at some charts and see what […]
Did You Short The Gold Break Down?
In my weekend report I warned about a possible false break down in Gold. I received emails saying that many 'shorted this sucker for the final flush down phase'. I repeat, Please use & honor your 'stops', I see things differently. I'll explain after a market review.
The SPX was looking bullish and I expected a break to higher price, but today there are areas that need to be noted and watched.
IWM - This also had a semi high volume rejection at the 200sma. That doesn't mean that it is done, but we'll watch to see if the 10sma or another area of support can hold it up.
Here is where it gets interesting...
Light Holiday Trading?
This was possibly going to be a slow week of holiday trading, with Thursdays markets closed in the U.S. and 1/2 day Friday. In some areas we actually saw some noteworthy changes. Lets take a look at our weeks activities.
SPX - No change from what we expected, but we should see a push higher soon.
This is encouraging ...
Bullish Changes
Today is Wednesday and the last full day of trading this week for the markets in the U.S. There were some bullish looking moves yesterday, some expected and another was a little surprising. Lets review.
SPX - I expected a little drop, likely to the 10sma, and a BUY opportunity for UPRO, TQQQ, or another long vehicle that you may trade.
I posted this chart of UPRO yesterday, using the 10sma as a guide. The 2nd one was at the close.
That was a perfect "Buy" opportunity, but It could still be bought here if you missed it.
Slow Week Ahead?
This is a holiday week in the U.S., so I would expect that the markets may begin to slow down as the holiday approaches. Lets review what took place Monday. There actually were a couple of noteworthy occurrences since the weekend report.
Nov 22 Weekend Report
With the release of the Fed Minutes Wednesday, we got a good amount of action in the markets this week. Lets review sector by sector.
The SPY - On Nov 16, with a day 25 high in place, I expected a bullish break higher and a DCL to be put in place.
SPX Nov 18 - This was a bullish break out back above the 200sma.
That was follow through after the release of the fed minutes. What can we expect?
New Trade Ideas
Friday November 20, 2015
PUBLIC REPORT : GOLD BULLS AND GOLD BEARS
We saw GOLD break to new yearly lows Tuesday and I read in several different places that people were going short for the drop below $1000 (Again). From what I was seeing, it was not time to be going short. I discussed that in my Tuesday night report and will post some of that discussion […]
