Entries by Alex - Chart Freak

Feb 23rd Weekend Market View – 1 Step At A Time

Thanks to Rocky, I found something interesting to share with you this weekend. As one of our faster day traders,  Rocky was enjoying some fast Pops higher in the individual stocks of the general market and said, " Hey CF, are you sure about this market dropping? It just won't stop."    Well, My immediate answer was that we were due for a dip and that it isn't really rocketing higher like some stocks,  it has been sideways for a few days.  That said, I decided to dig deeper, look closer, and I may have stumbled onto something - Thanks Rocky!

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 So I have posted this and the rising wedge and this was in the Thursday & Friday reports. Also 'timing wise'  we would be late in the first daily cycle.  I said that this needs to break out higher or it will break down,  but...

 

 

Take a look at this as food for thought...

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February 22 – Just Thinking Ahead

As mentioned in recent reports, I am expecting the markets to pull back soon.  There have been some great gains in the run out of the lows for the General Markets, Oil, and Precious metals / miners,   but we really are due for a rest.  Just because I am expecting a pull back soon,  that doesn't mean that we are finished yet though.  The Theme picture may give you an idea of what I am talking about.   Lets discuss the markets and do a little thinking  ahead...

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Wait Just A Minute! Fed Minutes Released

At 2 p.m. we had our F.O.M.C. Minutes released, and some things changed right away, so we'll discuss that.  Is it likely to be a short term knee jerk reaction that only lasted for the rest of Wednesday?  Or does it look to be more of a medium term change, with days of similar action to follow.   I almost think that the readers here already know the answer to that, but we will discuss it further.

 

 

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Wednesday – Juggling Time And Ideas

If you were in front of a screen during trading hours yesterday,  you may have also noticed a multitude of  trade ideas in various sectors popping up all over the place. It was a lot like juggling for the active trader, and a couple of questions received in emails reflected the fear of missing out on some really good moves in the blockchain trade ideas that I mentioned on Feb 8th, saying,

" XXXX was up 20% and YYYY was up 50%, my stocks were only up 5%- 7%, am I in the wrong stocks?".   Those  blockchain stocks are very hard to just buy & hold and as mentioned, they are NOT for everyone, so I would not chase those.  I'll discuss them more at the end of the report.     Let's take a look at things and answer a few questions...

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Feb 16th Weekend Wrap

We have a lot to discuss, and I have a special section on the Precious Metals that should  interest everyone here, so let's get right into it ...

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SPX WEEKLY  -  The market continues to rise out of its V-Bottom. It has now broken out over the 200sma on a daily, and that means that it is above the 50 week ma. I am using red arrows to show other slam down ICLs and their recoveries.

 

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Fridays Final Trades

Good News, Bad News.   The Good News is that in the U.S. we have a 3 day weekend to rest up and enjoy time with family and friends.  The Bad News is that in the U.S., we have a 3 day weekend.  I don't know about you, but at times I hate it when there is  no trading Monday.   Earlier in the week I was lamenting that some of the trades were choppy and not really going anywhere, but toward the end of the week the gains started adding up and now I'd like to see this continue Friday and into Monday, but I guess many of us will need to wait until Tuesday.  So let's take a look at a few things on Friday,  our last trading day until the 3 day weekend.

 

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Wed Feb 13 – Like watching Paint Dry

When the markets get later on in there cycle counts and start to get a little choppy, it can be boring and even a little tricky. You'll see what I mean by tricky when we cover the general markets and Oil.

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SPX #1 - The SPX has hit a new high as it pushed against the 200 sma Tuesday after a brief pullback.   Does that change anything? ...

 

 

SPX #2 Feb 5th  -  A while back I had mentioned that in the past that we saw false break outs at the 200 sma before, so that could happen again.   So breaking through that 200 sma doesn't really change anything, but I'll show you why it gets a little tricky shortly.

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Feb 12th – Tuesday Talk

Not much changed in Mondays trading , but I want to discuss something in addition to a quick review and possibly a new sector perking up.  Let's get right into it...

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SPX - No change here, I think that the upside on the first daily cycle has run out of steam and a dip will come before another move higher.

 

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