Entries by Alex - Chart Freak

The Big Picture

August 17, 2015 /92 Comments/in /by

Lets review last weeks market action by stepping back and looking at the bigger picture.

 

SPX - This long consolidation has left price right where it was in Jan.  The MACD is dropping steadily on the weekly. This is a reversal candle so we may see a bounce this week. 

SPX WKLY 8-14

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Shaken, Not Stirred

August 14, 2015 /4 Comments/in /by

After a solid 5 day rally, gold sold off on Thursday, and the precious metals miners were sold-off indescriminetly.   Both GDX and GDXJ were down almost 6%, leading many to be shaken out of position on the pullback.  For me, these events are expected and become opportunities, so lets examine the charts to see why.

$GOLD - a pullback to the 10 & 20 sma as support is normal.

GOLD 8-13

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Shaken, Not Stirred

August 14, 2015 /79 Comments/in /by

Thursday saw Gold sell off a bit, but Miners were really shaken.   Both GDX and GDXJ were down almost 6% .  We were buyers last Friday and  Monday, so should we be stirred by this selling?  I do not think so. We will honer our stops if necessary, but lets check the charts for confirmation.

$GOLD - a pullback to the 10 & 20 sma as support is normal.

GOLD 8-13

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Confirmation, Time, and Targets

August 13, 2015 /82 Comments/in /by

I have good news and bad, but the bad news isn't really all that bad either. The good news is that we have done a great job of pinpointing and navigating the lows of what appears to be an ICL ( a deep meaningful low) in the precious metals market. The bad news is that we now have to navigate the upside and as you will see, its a bit trickier than many may expect.  Lets quickly review the markets first.

SPX- This has been no picnic for investors either. The SPX is basically flat for the entire year. Strong sell off and reversal yesterday, but can it break to new highs? It needs to be monitored. A break below the July lows in the next few weeks would be very bearish in my opinion.

SPX 8-12

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GOLD WATCHES

August 12, 2015 /3 Comments/in /by

There is more than one type of Gold Watch.  The obvious one is the one that you carry around to tell you what time it is. The Gold Watch that we have been carrying around here at Chartfreak is the one where you closely watch Gold and gather clues about its next possible trade / […]

GOLD SILVER AND ENERGY STOCKS

August 12, 2015 /109 Comments/in /by

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.

GDX 8-11 3

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

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A Step In The Right Direction

August 11, 2015 /61 Comments/in /by

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.

USD 8-7

Notice the next chart of the Dollar...

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DIFFERENT

August 10, 2015 /68 Comments/in /by

For quite some time I have been pointing out things to take note of that are a little different than many others saw things. I think others are starting to see what we were pointing out here months ago. I was mentioning  a bearish rising wedge pattern in the spring, and in June I looked at the SPX this way.

SPX WKLY 6-17 

JULY 24, the SPX had not broken out from that toppy looking curve.

SPX WKLY 7-24

Would the BULL MARKET break higher soon?

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