You are here: Home1 / Premium
The markets remain a bit choppy, but some of the set ups that we have been discussing are beginning to play out nicely. I have a few more trade set ups for us too, so let's review...
.
USD - Starting with the USD, this may pause here for a bit. A short dip in the USD could cause a short pop in Gold & Miners.
Read MoreAs time moves forward, the Market big picture always become clearer, so let's see what has been happening this week, with a few added 'surprises'. I'll also add in 3 more trade ideas.
SPX - This is a possible inverse H&S forming now. The DCL would be the head, and whether or not you took a long trade while waiting to see how this develops ( I have had concerns based on the XLF and a few other factors) you can see that you have not missed any great move in these choppy markets. Notice that Price is STILL the same price as day 1, the first day after the swing low! That said, If you want to go long based on the possible inverse H&S and place a stop under the 50sma with a little wiggle room, this is as good a place as any to do that risk reward wise.
NYA - I was concerned with the dropping MACD , so I still have concerns there...
XLF - One of my main concerns was the financials and bank stocks like GS, BAC, JPM, etc. Until I see a recovery, I will still be concerned, but again, price is at a low risk reward area in some of the General Markets. I am not Long or short currently.
NASDAQ - We Don't want to get too bullish and forget this chart from Thursdays report of the NASDAQ on Wednesday. This is still in place and that MACD has dropped further. Markets have just been very choppy and volatile and I am still cautious on their ability to gain more upside at this point. They need to prove themselves and the Financials need to do that soon, in my opinion.
Read MoreThe short term unknown ...
Read More
NYA - The markets look set up to break out higher, but we need to see some signs of strength.
You recall that I've been watching this...
Read More I need to keep this report SIMPLE. Best wishes to me on that one...
ALL EYES ON GOLD & THE USD THIS MORNING-
The 200sma is at $1262 and that has acted as resistance in the past few days (so far)
Read MoreUh Oh! - What does "Don't Shoot The Messenger" have to do with our weekend report? Read on and you'll see that what I am seeing lately is not what many were hoping for in the Miners. We will discuss the implications in the Precious Metals section of this report. This is a rather huge weekend report, enjoy!
.
SPX - I was pointing out a rising bearish wedge a while ago and I said that it would have to break out to negate it as it approached the apex, or it would have bearish consequences. Well it did break higher and even back tested on the recent sell off...
Read More
SPX - 3 days ago I was noticing how similar this pullback was to the one in December
SPX - The follow through is good and the RSI looks promising. The one in December went sideways for a while, but this one is coming right off of the 50sma and would be more likely to run higher instead of sideways if it continues higher.
This next chart looks very good...
Read More
SPX - I still have concerns with the weakness internally of the XLF, so I'm watching the General Markets closely. So far we have a swing low and a move that closed above the 10sma Wednesday. Anyone long should still be using a stop as we wait for an overhead trend-line to be broken.
Read More Here we are midweek and we have lots of changes to discuss in our review, so let's get right to it...
.
SPX - I was expecting 1 of 2 things, either a deep drop into an ICL, or a shallow drop that may eventually lead to a blow off parabolic type top later. So far the dip to the 50sma reversed on Monday and Tuesday saw some follow through. That is a swing low in place and it almost closed above the 10sma, so you have an entry and a place to put a stop, even if the selling isn't really complete.
Let's discuss this further...
Read More
Scroll to top
