A Quick Look Underneath
You may have noticed that yesterday many of the markets across the board started out rising higher, but ended up selling off. Lets take a look and see if it means anything at all...
SPX March 13 - It reversed at resistance.
Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
So Many Set Ups
I cannot believe how many beautiful chart set ups keep popping up for traders in the markets. I've mentioned STEEL stocks, Energy, Tech, and really even some of the Miners have been setting up rather interestingly. Are all systems go? Lets turn to the 38 charts for more information...
SPX- Still wants to run higher
And since the week has ended, here is the NASDAQ WEEKLY CHART...
CHINA
Yesterday it seemed like anything China was the place to be. Many Chinese stocks started to really POP, but does that mean we should jump on board and be buyers at this point? Lets look at a few charts ...
FXI- I am looking for a reversal or another gap higher (3 gap play?)
Other Chinese ETFs look similar, this is CHII -
More Of The Same
The markets are moving much like I have been mentioning over the past few weeks. Things in OIL have played out as expected , and I believe they will continue to do so. I am seeing some interesting things happening in GOLD & MINERS, I will discus that a bit here, but the weekend report may be quite revealing , since we will see a few more days of trading playing out. Lets just get to the charts...
Shocked
I was not so surprised to see the Energy sector doing so well yesterday. We've been expecting that next break higher for a while. I will say that I was surprised to see how quickly the markets shook off that jobs report , however. I mentioned in my weekend report that there were many nice stock set ups, so it was puzzling that the markets looked ready to break down. Well, just like that hypnotic dance forward in a conga line, the buy the dips crowd didnt want to skip a beat...
NAZ from my wkend report. I thought a gap down could break this wedge
Yesterday we saw a gap down and then the reversal higher, but I still want to point out this important point ...
JOBS REPORT AND MORE
Fridays Jobs Report said a lot, and how the various markets react should be quite interesting. The markets were closed Friday , so what will Monday bring? Check this out...
I'll start with the IBB WEEKLY chart. This isnt overly Bearish at this point, its still above the weekly moving average, but needs monitoring.It was last Spring that Biotechs sold off deeply.
Now lets look at the SPX & the NASDAQ, but first let me explain the possible implicaitons of the negative jobs report that came out Friday ...
Checking the Charts
Friday the stock market is closed , but I have a lot to say after yesterday, so lets check the charts and see whats happening at the end of our trading week...
.
In this chart Yesterday, I had pointed out that the NASDAQ had a gap to fill and support at the wedge, would it hold?
This is the chart from the close Wednesday...
Hanging In There
Not a whole lot has changed in the markets since yesterday, but you'll see that they are still "hanging in There' for now in many ways. To the charts...
NASDAQ remains in a range-
The SPX actually looks a bit different ....
Market Observations
I wanted to take this time and just share a few charts that I have presented to my premium members in various premium reports last week. Of course as time moves forward , charts can morph and change , so we keep our eyes on things as they unfold. Currently, however, things are still playing out as expected.
March 24 NASDAQ - I was pointing out a wedge pattern. They are bearish if they dont surge higher and break the pattern before reaching the apex.
