Archive for category: Premium

Today is Friday, the last trading day of the week.   It is also "Options Expiration,' and that can affect pricing and volumes a bit, but so far things continue to play out pretty much as expected,  so lets just get into our Friday report...

SPX 1 of 3  -  After the pause that we expected under the 50sma, the equity markets actually look ready to break higher already, so

I want to show you these 2 charts ...

This is the weekend report, where we can monitor the progress that the various sectors of the market have made, and what we may expect going forward.   Since I give a more detailed day to day update in the daily reports,  I often focus  mainly on the Big Picture in the weekend reports by using the weekly or Monthly charts. This week , however,  I will start with the daily charts in a couple of the sectors, to  include a  close up of where we are now, and then we'll get into our Big Picture Outlook.

QQQ Daily - We are pausing at the  50 sma, as expected.   Will we go sideways or pull back?  It really shouldn't matter, at day 12, I think that we should still break above the 50sma in the first daily cycle and maybe back test it on the dcl later...

QQQ WEEKLY - This is an area that POSSIBLY may eventually become an important topping point.  We are watching this s things unfold. If the FED stops raising rates in early 2019, I wouldn't rule out that the markets can hang in there a bit longer.  FED PROPPED.  I still lean toward a H&S top though, with highs in place. 

As was mentioned in yesterdays report, a variety of  the markets sectors have been climbing higher and trading has been excellent. Let's examine our current markets...

This was in yesterdays report-

SPX #1 – If this is an ICL, we should have a month or two off of the lows, but we are seeing price enter ‘resistance’ areas.  It CAN push higher, but we are nearing an area that may offer resistance and stall price too.  The markets have been straight up, but going forward they may get choppy.

In The last quarter of 2018, various areas of the markets began drying up and going stale.  We saw the equity markets & Oil crashing down and  many good set ups that would form would quickly fall apart.   Trades in Miners and some of the Medical Marijuana companies were playing out ok, but there was definitely a choppy vibe in the GDX & GDXJ area too, into December.

 Suddenly, we have seen  bottoms develop  (temporary or longer term bottom remains to be seen), and along with these bottoms are set ups  that are finally working out, and many are working out very well.  Let's take a look at Mondays action...

REMINDER:  At the end of December,  IN MY REPORT, I mentioned that this reversal candle on day 39,  was a buy in technical analysis, with a stop under that days lows.  If an ICL is in place (Day 1) , those lows will not be broken for weeks.   So far,  this is playing out well.  You can see that I said that " This is a BUY" in that December report.