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Judging by the intensity on that pitchers face? I'd say he's throwing some heat, maybe a fastball. When it comes to Metals and Miners , however, I think many were fooled the recent action and in that case you may hear them say, "It really threw me a curve ball! " Understandably , the past few years in Metals and miners have been ugly for the bulls, but there were definitely a number of factors that helped us here at Chartfreak to navigate the recent lows, and identify that this was NOT a break down. Its slowly becoming clearer to all that Miners were telling the story and Metals were not forming a bear flag as some suspected. Metals have been putting in some constructive lows. The move higher might become rather swift at this point too , and I'll show you what I mean in this report, but the real question is... Are these rallies going to last? Or should we be alert to future downside? We'll address that too. To the Charts!!
First the general markets. please read this chart .
Not much has changed in my thinking about the possibilities for the general markets going forward, lets review...
Read MoreAre you looking for another miner?
I have been posting some good buy set ups, and they have played out very well. If you missed them or I know that some have even told me that they took profits recently, only to see them continue higher. What to do? Look for another decent "set up". SO I want to share a some good looking set ups here with you now.
Read MoreI like to look back at the end of each week and just see if the charts are telling us anything new. Are they confirming what we expected ? Are there new implications? Is there something there can boosts our confidence moving forward? This week , I see all of the above . Lets review .
Lets take a look at the $USD for a moment- practically straight up
Ooops, wrong image, but they look the same. Here is the correct chart of the $USD
Is it really going to pause? Well, lets look at a few other charts ...
Read MoreWeeks ago I mentioned that sometimes when the markets are breaking to new highs on weakness, it can cause volatility and lack of direction. Do you feel that we are seeing that now? This chart from DEC 23 showed what I was referring to as we broke to new highs with weakness. I was afraid that we might be heading there again.
Its can be hard to make good Money when the volatility has markets ( say the Dow for example ) moving up & down 100's of points daily. Down 300 , up 200, down 300, up 320, down 250, etc etc etc . Yesterday the Markets re-gained the 50sma and today they are giving it up again. Volume is a tad heavyish so far today and I am again watching the close to see if we get an idea what to expect going forward...
Read MoreWell I was hoping I could use this picture again , what a Fast moving beauty! : ) Actually , speaking of fast moves , this is an update to this mornings post. As we watch things unfold here , and I mentioned what I was looking for, I hope you are seeing what I am seeing.
Read MoreYou could basically read my last few reports and get the same results. Even though the numbers have changed and the moves are taking place, my outlook hasnt changed.
Here is yesterdays wkly chart of SPX - we expected a move higher, but a bounce or a buy the dip recovery?
I thought that the markets looked a little 'different' this time, so I mentioned that it could 'fail' . Yesterday we did have a reversal
And CNBC had a lot of people on saying, "You just have to Buy the Dips. Its been working for years now! " Is THAT what I mean when I say nothing has changed?...
Read MoreMarkets dont go straight up or down
( yes I've seen the $USD and Oil Lately 
) Well actually, they haven't been 100% straight up or down either. We expect Pullbacks , consolidations, dips, etc . Even the straight up dollar move wasn't straight up , as you can see here in my Jan 2 chart, there were dips ...
Pullbacks happen all the time, and the key is to examine them separately and look for opportunity. Lets discuss pullbacks ...
Read MoreMany still cant see it , lets zoom in for a minute
If you're worried that the public will see this , dont. I have posted for 8 weeks my thoughts on a particular sector in extreme detail, and I still cant convince everybody of what I have been seeing, this Picture wont change anything for the public. So Lets discuss Various Markets ...
Read MoreFriday was a Mini victory if you ask me, and I'll tell you why after a brief update of the markets. So far The SPX, Q's and Dow acted just as I thought they would, they have dropped after making new highs (QQQ was likely not going to make new highs, and it didnt ). DEC 30 - I posted this that I'd be watching the QQQ's at the 10sma, it looked weak.
Well, it broke right through the 10sma by the end of Dec 31, so what now? All doom & gloom from here?
Read More During times of low liquidity, it's easy to rock these boats back & forth , but it's not always easy to get them sailing smoothly in the intended direction. When the tide rises , or the flow of liquidity returns, however, they can begin a journey of smoother sailing . During weeks of holiday trading, its similar in the markets. low liquidity can cause volatility and rock things back and forth, but it's not always clear which direction things really want to flow.
Today is January 2, and it's the first trading day of 2015, but I'm not so sure that the liquidity will return until next week. Until then ,we may have more volatility and things may not look very clear, but there are some interesting developments to look at. As I write (Pre-Mkt) Futures are up nicely for the DOW, SPX, and NASDAQ, while GOLD shot down to $1169 , Silver is down .10 , and OIL has dropped to new lows. The $USD is again strong, up to $90.85! I still think next week will clarify the true direction of these markets, but notice this...
The dollar is at new highs in Pre-Mkt at almost $91., yet Even with the continued Dollar strength...
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