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Everything that we have been discussing is still lining up. Lets review...
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SPX - I have been expecting a bullish rise since the lows in February, and a higher high after the DCL. Quite interesting that even after a very weak jobs report Friday, the chart remains bullishly lined up.
Read MoreThis is part 2 of our weekend report, and it will focus on the Precious Metals Market. In Last weekends report, I pointed out this very important chart. What was I trying to draw attention to?
GOLD- Using Cycles, the Intermediate Cycle Low (ICL) , a very meaningful bottom, has been arriving every 4-5 months. I pointed out that at 6 months from the Dec 3rd ICL, a very important low is due. Gold was not plunging deeply into its low, so many were not buying, they are waiting for that deep pullback. Would it be that easy to get 'low priced Miners' again? I thought we would see the ICL in 1 or 2 weeks. Here we are, 1 week later.
Read MoreI 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?
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