WEDNESDAY MAY 23rd – Hump Day

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REVIEW:  SPX looked like a Bull Flag Last Friday, I expected a break higher.

 

After that break higher, This is copy pasted from yesterdays report.  We should expect a possible gap fill.  Markets could 'stall' to fill that gap.

 

SPX - The markets did move higher in the morning and then closed down, partially filling the gap.  I am seeing short term weakness in some of my other indicators (Not shown), so I'm wondering if this is going to tag that 50sma again? The weakness at this point is nothing too serious and a push higher will help turn those back upward.

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Tuesday May 22nd

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 Mondays Markets...

 

SPX MAY 18th -  Last week I mentioned that we had a bull flag forming on the 10sma, so it should break higher...

 

SPX - The General markets did break higher, but they gapped open. Toward the end of the day, they started to sell off, but they still didn't close those gaps. The gaps could fill, however...

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MAY 19 WEEKEND REPORT – REST UP

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Rest up this weekend, and we'll review the markets and the action that we can expect as things move forward.  I'm really loving the way the Precious Metals markets are setting up for example, so far very much as expected.  Lets just get right into it and take a look at our markets...

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FRIDAY MAY 19th

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It is Friday, the last trading day of the week, so let's review a couple of points of interest in the Markets, and then discuss a few more stock picks.

 

USD - The USD is heading toward resistance, but it can continue a bit higher.  I will discuss this further in the weekend report.

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Thursday May 17

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NASDAQ - I mentioned months ago that it looked like we could be starting a consolidation period  ( or a topping process) in the General Markets.   You can see that we are doing just that.  I also mentioned that it is possible that individual stocks may do well, so we will briefly discuss some individual stocks later in the report.  Also if this, over time,  breaks out to new highs, it would be very bullish.

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Wednesday – When Painful Cracks Appear

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Don't worry, we do have a remedy for that...

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May 15th – Follow Through

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May 12th Weekend Report

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Let's review our market activity for the week.  After enduring a lot of choppiness in various Market Sectors recently, this was a week of change, with out prior reports discussing 'crossing the line' and 'Follow through'.   Let's take a look...

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How About Some Friday Follow Through

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Yesterdays report was entitled  "Cross That Line", and the markets did just that!  They crossed the lines that we were looking at,  so I figured that it wouldn't hurt to name Fridays report, "How about some Friday follow through", to see if they would accommodate again.

Let's take a look at how accommodating  the market action was yesterday...

 

SPX - SPX crossed the line, breaking the down trend.

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May 10th – Cross That Line

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SPX - The General Markets are shaping up and as mentioned in yesterdays report- I expect the SPX to cross this line.  That is ( at least short term) A bullish break out from a down trend. We also have been watching this triangle formation.

 

And this is why I mentioned that I would expect a break higher...

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