Entries by Alex - Chart Freak

TRAPPED

August 25, 2015 /81 Comments/in /by

We were not long the markets over the weekend, but if you woke up Monday and you were?  The above picture is a perfect example of what that probably felt like. Dow futures were down hundreds of points and there was no escaping the bear claws.  We expected a drop, but I was very surprised at just how fast and  deep things unraveled.

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There will be a bounce, notice on the left side of this chart that even in Bear market sell offs, there are bear market rallies.  Pretty big ones.  We want to watch how that unfolds, as mentioned in the weekend report.

SPX BOUNCE

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How’s It Going?

August 24, 2015 /106 Comments/in /by

For months I have been pointing out this Rising Bearish Wedge and then a possible topping process ?  Just a few of those charts posted are below.  March, June and then AUG 17,  2015

SPX WKLY 1

SPX WKLY 6-17SPX 8-18 lomgterm

We cant say that this topping process was exactly a surprise...

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One Little Victory

August 20, 2015 /204 Comments/in /by

Another little victory for the precious Metals Sector. I like to enjoy them while I can, since I know how fast these markets can change. We actually saw Gold move higher after the release of the fed minutes yesterday, and that was a small victory.   A short term top may be close, so we'll discuss what that may mean. 

First , lets review these volatile markets.

SPX- The markets may finally be rolling over. 

SPX 8-19

We've been discussing this for weeks and I have mentioned that topping is a process, but notice these additional signs.

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Beat The Clock

August 19, 2015 /82 Comments/in /by

Today at 2 P.M. Eastern time, we get the release of the Fed Minutes. Today could amount to a lot of  "Hurry up and do nothing!"  until then. Lets review and see where the markets currently stand.

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SPX- yesterday I showed this break out, it looked bullish short term, but I noted that it looked weak internally

SOX 8-17

SPX - Price dropped back inside yesterday

SPX 8-18

How did the other markets fair?

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Turning Points

August 18, 2015 /94 Comments/in /by

I've been seeing differences between my long term view and my short term view for the markets. This could be indicating that we are seeing turning points. Lets discuss why that could be.

SPX -  I've been seeing this longer term. It looks like the markets are acting rather toppy.  Monthly charts are now showing weakness quite clearly as well.

SPX WKLY 8-14

Now looking at things from an even  longer term view...

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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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