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Alex - Chart Freak
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Alex - Chart Freak2015-10-09 12:09:172015-10-09 12:09:17Running The BasesThe saying , "What goes up must come down" is true within Bull and Bear markets. Lets take a look at what is going up and what is likely to come back down, keeping in mind that the FED MINUTES are to be released later today.
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I drew this last week to show that I expected the SPX to move up to the purple line
Read MoreThe Oil and Energy Stocks were leading the way with their recent bullish activity. As pointed out yesterday, the XLE broke out from a downtrend and was probably signaling that OIL was about to follow. Quite a few of the stocks were up 20 - 30% in 1 day yesterday! We'll discuss more about the potential here in a moment, but first lets review the rest of the market action.
SPX- Resistance is overhead. A pause below the 50 sma may be building energy to break higher, and a break above could see buyers rush in and push it higher.
Why is it possible that this resistance wont hold it back?...
Read MoreYesterday we saw some of the Energy and Mining stocks running swiftly. There are some small bases that have formed in the past few weeks, and now they may be starting a small leg up. Some had Gains of 20 % in one day, which could just be a mix of short covering and a little buying, but they may still continue higher. We'll take a look at some individual stock set ups like the one below.
SGY - A break above the 50sma, we see a possible Inverse H&S forming.
Read MorePart 2 of this mornings Gold report. I'll start with 2 charts that I pointed out recently in premium reports and in the public post yesterday, indicating some bullishness in the miners...
Sept 30 - GDX buy above the blue line and confirmation above the green dotted line . We are currently seeing that today ( we need to close that way)
Why was this important? Using only Cycles, the volatile movement in Gold and the Miners was causing concern and looked ready to fail. While using some of the indicators that I have developed to monitor internals at the lows, I was still seeing bullishness in a number of ways and technical analysis was also leaning toward bullishness, as seen above. I dug a little deeper to try to reconcile the differences and came up with this...
Read MoreThis report will only cover Gold, Silver, and Miners
Read MoreThe market volatility has been whip sawing people left and right. What used to look like the perfect set up falls apart in just a day or two, so having 'stops' in place has been very important. Lets take a look at the markets and then review some very interesting things that took place in the Metals and Miners area today.
SPX- This bounce was expected.
Read MoreIt's time to discuss decay in the Oil and Metals markets, but first lets do a review of the equity markets.
SPX- This was Sept 15. I have been saying since August that I expect the lows to be tested sooner or later.
We see that happening now, so what next? ...
Read MoreCrazy action in the markets today. Some of it was expected, but some of it doesn't seem to fit. Lets take a look.
IBB - Really taking it on the chin lately. This is a weekly chart and todays volume was massive.
Read More
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