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Today we'll discuss some important developments that took place in the markets after the Fed decision yesterday...
Read MoreAre you ready? I would have to say that everybody and the markets have been expecting a quarter % rate hike today, so we shouldn't really get any surprises, but let's take a look and prepare for what might be coming our way. We had Part 1 &2 in Precious Metals, and that showed us A LOT! Now, how do we get ready for what is to come? Let's discuss this next...
SPX - The Markets have continued as expected, we'll see how they react to what should be an expected quarter rate hike. There is a gap down at the 10sma, so that is an area to possibly be aware of.
Read MoreI think that it is important for this weekend report to FOCUS on the idea of GOLD going on sale, so after a review of the Markets, I am going to have PART 1 of a GOLD SPECIAL REPORT.
BANKS - The banks broke out recently, as reported in recent reports, and after a quick back test, we see the BANKS ( I mentioned JPM, BAC, RF,HBAN, MS, etc ) Moving higher. It is assumed that an interest rate hike is in the books with Wed Fed Mtg.
SPX #1 - We got our back test of the 10sma, likely a 1/2 cycle low.
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SPX - The SPX dropped to the 10sma, and this was noted as normal action...
SPX - Thursday was Day 15 and that could be our 1/2 cycle low. This should continue higher, though a quick dip under the 10sma has happened in Sept & Oct, and that dip was harmless.
Read More When I look at the various sectors of the market, they still seem to be moving at various rates, so we have a bit of a mixed set up. Let's take a look at this mixture...
SPX - Here we have the SPX acting as expected. A possible 1/2 cycle low after getting a bit ahead of the 10sma. Some have been riding this for a long time now, with a trailing stop. If you bought UPRO at the DCL, you could try adding if that was your goal. You can see that the SPX does at times break the 10sma & recover, so be prepared for that possibility. See SEPT & OCT.
Read MoreThere are a few things that I will be watching today...
Read MoreAs mentioned last week, we want to keep some of our open energy trades on a short leash. They were up 20% or so, so after a brief market review, let's take a look, take some profit, and not overstay that welcome 🙂
SPX - We saw a large doji candle on Friday ( indecision) and on Monday the markets Gapped open on the hopes that a Tax break will help business, but then it sold off. Am I bearish? No, this is day 12 of a bew daily cycle and the move higher was steep, I think we may just drop to the 10sma & my trend line, or go sideways,,,
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SPX WEEKLY - Still Bullish? Yes, quite. On a 2 year chart we see that the SPX formed an uptrend channel, and when it got a bit overenthusiastic ( over throw), it immediately sold off and closed back inside. Currently it has closed outside (above) that channel. This can create a steeper incline if it doesn't close back inside next week.
That can lead to more of a parabolic move, and...
Read More Friday is the last trading day of the week, so let's just look at a couple of the important things and some possible buy opportunities.
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