Archive for category: Premium

 Let's take a look at the markets current set up, as we wait for the FOMC Decision at 2 PM. Eastern today.

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SPX -  Basically still sliding sideways along the 50sma as expected, we had no  real change in the General Markets.  Are they waiting for the FOMC Decision too? 

I wanted to take a look at something else here, to see if there are any clues as to which way the Markets may break after the Fed Decision...

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We had another very active week of trading, and opportunities were wide ranged for traders and the short term Buy & Hold investors alike.   Trading has been excellent and profitable for weeks now.   Let's take a look at The Markets and future expectation...

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SPX WEEKLY - The run out of the December ICL has been a sharp rally with a slight pause this week.  It should continue to the 50 weekly ma  (Blue line) over time. 

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When a Red Flag shows up on the beach, it means that for some reason, it is unsafe to swim in those waters. Well, after 3 nice weeks of gains  in the Oil & Energy sector, I am still seeing a Red Flag in those waters. As mentioned in yesterdays report, Oil itself still looks fine, but it seems that some of the Oil / Energy stocks may not like the waters that they find themselves swimming in. It looks like a Red Flag to me.

Let's take a look at our markets...

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SPX - I mentioned that the General Markets can pull back to a 1/2 cycle low, or just go sideways along the 50sma . So far they are going sideways along the 50sma. I expect higher price ...

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  The Big Picture Outlook is based on current information and the formation of current set ups and what they seem to indicate going forward, but they cannot be considered 'Etched In Stone'.    They give us a solid idea of what we may expect in the upcoming weeks or even months, and that helps us to move forward with our trade ideas.  We have currently taken some trades at Major bottoms  (ICLs)  in the Equity and Energy Sectors, and we have used the Big Picture set up to have confidence in those trades.

   So far,  everything is right on track for what that Big Picture outlook here at Chartfreak  has been for the past few months.  The current trades are playing out well, but as time goes on, we need to stay alert to those big Picture set ups too.  Things can gradually change over time, and adjustments are also made if necessary.   For example, some may raise stops, others may decide to cut leverage, or even add to current positions , depending on how things are playing out.      My admonition remains  that as time goes forward, we need to stay current, stay flexible or adaptable, and Stay Frosty!  Yes,  we want to continue to examine the markets as we watch and see how things unfold.

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That said, Let's examine our current Big Picture Market set ups. I am noting one change in the Precious Metals sector that needs to be mentioned and monitored going forward.

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I said this in Friday Mornings report: 

SPX –  After about only 4 days sideways, The SPX , DJIA , NASDAQ , etc are slowly pushing above the 50sma.  It does look like the SPX held the 8 ema, and wants higher price, so that may become the lower trend line.   The 200 sma is the next likely target.

SPX Daily 1 -  I also noted a rising wedge that might cause a  pull back  at the 50sma, but here we see here that on Friday it  did break above the 50sma,  and a run to the 200sma is possible ...

 

SPX Daily 2 -  Since Friday saw the markets push higher, that wedge  may become a channel higher.  Read the chart.

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SPX - We still have a wedge that has formed. These usually break down, so with the SPX at the 50sma and a wedge, I would think that we may pull back for a few days.

 

That could be a 1/2 cycle low and it is not uncommon...

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