Putting It Together

Not a lot has changed from the weekend report, so lets review the charts.

Nasdaq March 2

NAZ March 2

Certainly has had the bullish follow thru that I expected, right to 5000.  Is it going to continue though?...

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Lets Wrap It Up!

Since I have 32 charts in this wkend report, lets just get right to  the weekend wrap up and discuss future possibilities, shall we?

Feb 25 - I felt that the NASDAQ  is close to a 'rest' here or near 5000, and then pull back.

NAZ Feb 25

Does that mean it's done and going to fall apart, or just a small pullback, maybe even sideways move ?...

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If you've been reading here at Chartfreak for any period of time, you know that I really do try to listen to what the charts are telling me and leave any 'bias' out of the equation. We dont fall in love with certain ideas or stocks, we dont look at all things through rose colored glasses,  and this helps us to  remain flexible.  With that in mind, I wrote a mid-day  update yesterday alerting my readers to some changes I was seeing. Lets examine what changed and what else we may see changing soon.  I posted this chart of GOLD -

GOLD broke out of a downtrend that I had been watching . I said that I became a buyer of Miners...


This doesnt indicate a long term trade is guaranteed, so let me point out a couple of reasons why it may or may not be...

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I want to share with you what I am watching in the Gold & Miners arena

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I think we're seeing the old squeeze play in action, lets take a look...

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Looking For SIGNS

Janet Yellen will be speaking over the next 2 days and everyone is looking for signs.  Signs that an interest rate hike may be coming and what that may mean for the markets.  So far most things seem to be business as usual.  On FEB 12, with the recent break to new highs in the Nadsdaq (and then the DJIA and SPX) after such a long consolidation, I thought that we could get a melt up higher. A normal  test of the break out also cannot be ruled out. I also called out a target of 5241 over time.



Lets look at what OIL & NATGAS have been doing...

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Ascending Triangles

Have you seen any Ascending triangles?  They can break out higher and they can break out to the downside.  Here is one that broke out higher for example.

WAGI'd like to show you another one...

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I wasnt going to do a Friday report, I was just going to allow yesterdays report to speak for itself, but lets just do a quick review to be clear.

I posted this oil chart yesterday  for a reason...


A drop to that area would be a low risk entry...

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We Love Swings!

When most traders were  kids, it's probably safe to say that if they had one available, they loved playing on the swings. Today I think that it's safe to say that most traders still love to play on the swings. We'll discuss one such swing in a minute, but first I just want to show the chart of OIL as of yesterday. ( Excuse the typo)  : )



I know some people that are looking at this chart and saying that it has formed a bear flag...


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Expecting what?

Some people here have been waiting patiently to pounce...

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