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I believe there were a lot of shocked faces Friday after the release of the Jobs Report. The Dollar absolutely tanked and Gold surged higher. In fact, GDX was up over 11% by the close. Was it completely unexpected here at Chartfreak? The dramatic fashion that things occurred was a little surprising, but I have been focused on Miners again since last weekends report. I said in last weekends report that " It is time to focus on Precious Metals again". I mentioned that the "Timing" was due for a low and in each daily report I tried to point out more evidence that something was coming. Today, we will discuss this even further. Lets get right into the market review.
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SPX WKLY - Nothing has changed here. We dot our DCL and now we are waiting for a break to new highs or failure.
Read MoreFriday, the final trading day of the week.
Read MoreMany readers here like to trade daily, attempting to scalp some short term gains or trying to grab a small run. Others may be patiently waiting in cash for a longer term run, like we saw in Miners from Mid January through April? Like the Bear in the theme picture patiently waiting for a salmon run, they soon should be rewarded. After a market review, let's discuss what is involved in that waiting period.
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SPX- We still see our bullish set up and even got a reversal Wednesday after an early sell off.
Read MoreNot much has changed from Thursdays report. Janet Yellen speaks today and she possibly could shake things up with some dovish or hawkish talk, so we'll see how that goes. And then all then traders in the U.S. will have a 3 day weekend to think about it. 
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If you are heavily invested and you'd rather not think about it on your weekend off, you may want to lighten up.
Read MoreYesterdays report discussed some break outs that were taking place in various sectors. Wednesday, we saw some follow through in those areas too. Just like a baseball player at the plate, when we get a decent pitch tossed our way, we also need to follow through to be able to possibly score. Some may wait for a pullback or start a small position and add on a pullback later, since it is early in some set ups. Lets review.
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SPX - This is the follow through that we expected. We are only on Day 5 today, of a daily cycle that can last over 30 days.
Read MoreTuesday was a Break Through in a several ways. Let's take a look.
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SPX - From the weekend report. For many reasons, we were waiting for a break out higher ( not lower like many other analysts).
SPX Tuesday- We see a Break through. This is Bullish. Today is only day 3 of the 2nd daily cycle, following a R.T. Daily cycle. That means that we could really see this move higher over time. Picture this : Many were shorting what appeared to be a H&S, and they may now start covering and cause a buying reaction.
And the NASDAQ?
Read MoreWe didn't really see a whole lot of change on Monday, but as mentioned in the weekend report, some areas could be setting up. Some setting up for a run higher, others setting up for a fall. To the charts...
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SPX - No follow through yet, but I am expecting higher prices soon.
Read MoreIn this weekend report, I want to review the markets as usual and discuss where they are at. Things look very interesting in many ways. I also wanted to discuss a few things about my personal view of trading around cycles. In my analysis, many are aware that I incorporate a variety of helpful techniques. I Mainly use various forms of Technical analysis, and along with that I add Cycles, Sentiment, a little Elliot Wave and so on. In this weekend report, I want to also briefly discuss a few things regarding Cycles and some of the trading that goes on around them. To the charts...
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SPX - As mentioned in a prior report, for the amount of time that the SPX has rallied out of lows and moved to oversold, it has had a mild pullback. Not even a 38.2% retrace yet.
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