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As mentioned in the past, there are times when the markets allow us to see clearly the direction they want to head in for a sustained period of time, and at other times it's just not that clear. Often times when the various markets are changing direction, price gets a little choppy. Entering trades during that period can be frustrating too, since even good set ups may work for a day or two , only to fail the next. Unless you are a day trader , then that leads us to this conclusion for traders who want to buy & hold positions for a week or two - Sometimes it's a good time to be trading and at other times it's best to just try to be patient.
Futures are currently higher in the DJIA, SPX, and NASDAQ, is the pullback over?
Yesterday , I was looking for a deeper pullback
Yes, the futures are green, but is it just a bounce? Notice what I wrote on the following chart of the QQQ's...
Read MoreThere are times in the markets when the next short term direction is a little hazy, though the longer term view seems fairly certain. Lets face it, when one is invested , any uncertainty can cause one to get anxious while holding positions, especially if there is any volatility. So what can be done to find peace Of Mind under such circumstances? Lets review the various markets and then answer that question.
QQQ- The 1st target in the Nasdaq was met ( 5000) , and now a drop is likely.
The Nasdaq has plenty of room to drop, even just to "test" the recent break out, but notice the SPX...
Read MoreWe may need a little more information to know the short term direction in various sectors, since the markets all seem to currently be somewhere on Middle Ground. Lets take a look at a few charts and you'll see what I mean.
This was the NASDAQ March 3rd - 1st target met - a possible pullback to test the break out or 50sma
This was the NASDAQ Friday ...
Read MoreI dont always do a Friday report if not much has changed since Thursdays report, but with the release of the jobs number , I did want to cover one thing...
Read MoreSometimes people can look at the same thing and see something different than someone else. That is understandable , since we all have different experience in life and different ways of looking at things. When looking at charts , experience and training your eyes to look for certain things can be helpful in seeing what others may not. So is the above picture just a random pile of dots? Or is it a runner in action? The answer may depend on your focus or how closely you look at it. Lets look at some charts...
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SPX- the markets have been resisting the pullback. I posted this yesterday
Is there anything noteworthy in todays chart of the SPX?...
Read MoreNot a lot has changed from the weekend report, so lets review the charts.
Nasdaq March 2
Certainly has had the bullish follow thru that I expected, right to 5000. Is it going to continue though?...
Read MoreSince I have 32 charts in this wkend report, lets just get right to the weekend wrap up and discuss future possibilities, shall we?
Feb 25 - I felt that the NASDAQ is close to a 'rest' here or near 5000, and then pull back.
Does that mean it's done and going to fall apart, or just a small pullback, maybe even sideways move ?...
Read MoreIf you've been reading here at Chartfreak for any period of time, you know that I really do try to listen to what the charts are telling me and leave any 'bias' out of the equation. We dont fall in love with certain ideas or stocks, we dont look at all things through rose colored glasses, and this helps us to remain flexible. With that in mind, I wrote a mid-day update yesterday alerting my readers to some changes I was seeing. Lets examine what changed and what else we may see changing soon. I posted this chart of GOLD -
GOLD broke out of a downtrend that I had been watching . I said that I became a buyer of Miners...
This doesnt indicate a long term trade is guaranteed, so let me point out a couple of reasons why it may or may not be...
Read MoreI want to share with you what I am watching in the Gold & Miners arena
Read More
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