Archive for category: Premium

Thursday - 2 trading days left in the week. Again we have had another  great week of trading, but how long will this last?  Should I sell my positions?  Lets do a quick market review and then discuss positions.

SPX - April 18 had the markets Bullishly moving higher.

SPX  April 20  - The SPX is almost at the November highs and remains bullishly aligned. This may be an area that gives resistance, or the shorts may pile in and be forced to cover if it breaks to new highs.

It's all a matter of perspective. If you fell asleep Sunday night and didn't wake up until after the market closed on Monday, you may have thought that not a lot had happened.  If, however, you read my report Monday morning , you saw that Oil had dropped 4% overnight.   CNBC and many other sources of information where lit up.  Was 'Oil dropping to the 20's again'? Was it 'a great time to go short'?  No, Cycle timing and the charts were pointing to possibly just a small pull back.  We are invested in Oil & Energy, so this was important.   This was our Oil chart in the report.

WTIC - Oil was early in the 2nd daily cycle, and the first one was R.T., so I expected more than just a day 6th high in this run. Maybe we would get a gap fill?

WTIC MONDAY -  Many ( Not here at Chartfreak) likely jumped in on the short side pre-market, but the shorts got overwhelmed.  This reversal did fill the gap and it did something else too...

Notice this important observation

Its Friday April 15th, so I wanted to remind you that it is Tax day in the States, and I also needed to offer a clean slate in the comments section, since yesterdays comments section was FULL. 🙂

General Markets : We watched the markets break out Wednesday

It is NOT easy when you have a stock up 10%, and the other 4 or 5 are up 20% 34% and so on , but we'll just have to deal with it  🙂 .  Yes, I'm kidding, but seriously that is the way it has been lately.  Dont get used to it, it can be short lived reward for the patience that we have put in. Lets discuss selling and rocket ships after a quick review.

SPX  April 4th chart - I pointed out this bearish rising wedge and called for the markets to stop rising as a result. I said that I then would expect another run higher.

SPX - Those wedges can cause a drop or a sideways move that can correct the wedge, and so far we now have a channel . That wedge has fixed itself.

The environment for trading in 2016 has been excellent for traders and investors that knew where to look. If you have been a subscriber since January, then you have seen so many trade ideas blossom and grow. We have been finding various sectors that had bullish set ups that many were actually afraid to trade in.  Coming out of their lows, the potential has been tremendous if you know what to look for.

For example, just look at this one stock.

MUX -  Whether you traded it, or bought and held when it was recommended, it is up over 100% from its lows.

Lets look at a number of current trade set ups with conditions that favor the upside...