Cash Is King

I started last week with a good number of trades on, and while I still see a lot of good looking set ups, I find that I am slowly going to Cash.  Some trades I cashed out of and others I got stopped out. Lets look at the charts and discuss future possible opportunities.

SPX- High volume reversal .  Why was volume so high? Is this going to just be a back test of the break out & 50sma, or does that volume indicate a larger drop? We will know soon enough.

  SPX 6-19  

SPX WKLY-  Doji candles can indicate indecision, and for the 2nd week in a row, our weekly chart is a doji.

SPX WKLY 6-19  

Lets look at the NASDAQ...

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A Friday Review

I dont always feel the need to do a Friday morning report, much of Thursdays action flows into Friday and the weekend report covers that. This week we had some interesting developments , so I want to do a quick review.

SPX - I have been looking at a Wedge pattern , but lets look at things from another angle. This looks like day 8 of a new daily cycle.

SPX 6-18   Read More

It Looks A Little Mixed

Yesterday was Fed Wednesday and as usual we had a little reaction to the Fed Release. Lets take a look at the charts

SPX- closed higher but couldn't hold above the 50sma. It still looks bullish at least for a run to the highs of this trading range. Why would that looked like a mixed picture?

SPX 6-17

The weekly SPX  looks to be weakening over time. Tops are a process and we could be seeing that process playing out now.

SPX WKLY 6-17 Read More

Fed Wednesday- Think Outside the Box

  First we look at the charts and see what we can learn from recent price action. Short term indecision can cause volatility or lack of direction and we see that lately.   Today at 2 p.m.  will we get some additional information from a Fed Release  that pushes various market sectors one way or the other into a trending move?  For Gold, Silver , & Miners I am thinking outside the box a bit today . Lets see what the charts are indicating...

SPX - The MACD looks to be weakening at this point  ( weaker MACD & lack of follow through so far).

SPX 6-16 Read More

Sideways Moves

As mentioned in prior reports, sideways consolidations and bases can build up energy for larger directional moves. The Vix chart  above ( click on it) seems to be basing and other sectors also have been moving in sideways in consolidations. If the VIX breaks out & runs eventually, the markets should correct.  Lets take a closer look  at recent activity and see if we can determine what it means.

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SPX- So far the dips have been bought and trading this pattern has been obvious, but is it due to change sometime soon?

SPX 6-15  

Lets take a look at the NASDAQ...

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How Does It All End?

 USD WKLY -  looks strong and found support in an important area

USD WKLY 6-12

The DAILY USD  - looks a bit more bearish. The MACD dipped well below the zero line for the first time in a long time. Is that a H&S forming? The outcome of this move could affect all markets.

  USD 6-12

Lets look at several other sectors...

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Friday Trade

Quick  Low Risk Trade Idea -

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Stacking Up

Things are stacking up as expected.

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SPX - it was assumed that we would turn higher here. A low risk long trade.

SPX 6-9

SPX - this was the follow through as of yesterday, and its still oversold.

SPX 6-10 Read More

Whats Your Favorite Color?

If your favorite color is GREEN, then you probably like the futures this morning at 6 a.m. Eastern time. Is Green expected to continue as the color of the day?   lets take a look.

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SPX- yesterday I thought we could expect a reversal and it looks to have happened

SPX 6-9

The NASDAQ looks very much the same, except...

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Interesting Developments

It seems that things continue to play out as outlined here over the past few weeks and months. Lets look at the charts.

 

SPX- watch this number.  SPX needs to bounce soon.

SPX 6-8  

The markets have not had a healthy correction in years. A long term chart shows ...

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