You are here: Home1 / Premium
I just wanted to post a couple of quick thoughts before the weekend. I will post a couple of charts from yesterdays report, because nothing has really changed there, and a couple of new ones.
WTIC - This chart is from yesterday. That swing low did not hold, and I do not believe that it was a dcl that failed quickly. I still expect a bounce, but I think that would only be a Dcl, not an ICL in my opinion. After yesterday we are under the B.B. again. DCL soon.
Read MoreTuesday was a little like watching paint dry in the markets. Not a lot has changed, but it is important to watch how the various sectors set up going into the Fed Mtg next Wednesday. How they approach that Dec 16 decision might give clues as to which direction the next move will take.
SPX - This was Dec 7 and the markets dropped a bit, but remain above the 50sma for now.
SPX - Tuesday it is still holding the 50sma, but at this point I see signs of internal weakness , not strength.
Read MoreHave a plan, and stick to it. If something moves rapidly in the wrong direction, don't get upset and don't panic. Remain as calm as possible, take action if necessary. These are my rules for walking the Serengeti and Trading. 🙂
.
GOLD BOTTOMS -
Lately Golds lows have been hard for some to hold. "Have a plan and stick to it. If something moves rapidly in the wrong direction, don't get upset and don't panic...."
More on precious metals later
.
SPX - It will be interesting to see where we are on Dec 15th. This could break down or form a triangle here.
Read MoreAfter this weekends report, I wanted to look at some charts of stocks for buying opportunities. The theme chart above was an older buying opportunity that is now a bit extended. It may pullback and offer another low risk entry, but here are some current opportunities...
Read MoreIt's what we at Chartfreak have been expecting, but I think there could be even more to the story 🙂
More later in the report, lets review all market sectors first...
Read MoreThere was a lot of action in the markets today, maybe that was due to the Beige Book and Fed Yellen Speech . Reminder: DRAGHI speaks Thursday morning and we have a jobs report Friday morning.
I wanted to just keep It Simple today, and let the charts do the talking. Lets see what they have to say...
.
SPX - Dec 1 - I was pointing out that the chart looked bullish, but as it moved higher the MACD was 'concerning'.
SPX - Now both Price and the MACD are concerning. That could be a bearish engulfing, even though the futures are pointing higher as I write.
Read on for more...
Read MoreJust a reminder that the Fed will be speaking at 12:45
Read MoreI believe that today the Beige book is released and Janet Yellen speaks. Will that change current conditions in the market? We'll see, but right now in a sector that sold off to new lows, we are seeing leaders emerge. We'll discuss that after a brief review of the markets.
.
SPX - I'm noticing a weak MACD ,but the RSI looks good. I still think that the markets can break to new highs, but being the 3rd daily cycle I also think that the upside may be capped a bit for now. Notice how the 10sma held the decline.
Read More
Scroll to top
