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I cannot believe how many beautiful chart set ups keep popping up for traders in the markets. I've mentioned STEEL stocks, Energy, Tech, and really even some of the Miners have been setting up rather interestingly. Are all systems go? Lets turn to the 38 charts for more information...
SPX- Still wants to run higher
And since the week has ended, here is the NASDAQ WEEKLY CHART...
Read MoreYesterday it seemed like anything China was the place to be. Many Chinese stocks started to really POP, but does that mean we should jump on board and be buyers at this point? Lets look at a few charts ...
FXI- I am looking for a reversal or another gap higher (3 gap play?)
Other Chinese ETFs look similar, this is CHII -
Read MoreThe markets are moving much like I have been mentioning over the past few weeks. Things in OIL have played out as expected , and I believe they will continue to do so. I am seeing some interesting things happening in GOLD & MINERS, I will discus that a bit here, but the weekend report may be quite revealing , since we will see a few more days of trading playing out. Lets just get to the charts...
Read MoreI was not so surprised to see the Energy sector doing so well yesterday. We've been expecting that next break higher for a while. I will say that I was surprised to see how quickly the markets shook off that jobs report , however. I mentioned in my weekend report that there were many nice stock set ups, so it was puzzling that the markets looked ready to break down. Well, just like that hypnotic dance forward in a conga line, the buy the dips crowd didnt want to skip a beat...
NAZ from my wkend report. I thought a gap down could break this wedge
Yesterday we saw a gap down and then the reversal higher, but I still want to point out this important point ...
Read MoreFridays Jobs Report said a lot, and how the various markets react should be quite interesting. The markets were closed Friday , so what will Monday bring? Check this out...
I'll start with the IBB WEEKLY chart. This isnt overly Bearish at this point, its still above the weekly moving average, but needs monitoring.It was last Spring that Biotechs sold off deeply.
Now lets look at the SPX & the NASDAQ, but first let me explain the possible implicaitons of the negative jobs report that came out Friday ...
Read MoreFriday the stock market is closed , but I have a lot to say after yesterday, so lets check the charts and see whats happening at the end of our trading week...
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In this chart Yesterday, I had pointed out that the NASDAQ had a gap to fill and support at the wedge, would it hold?
This is the chart from the close Wednesday...
Read MoreNot a whole lot has changed in the markets since yesterday, but you'll see that they are still "hanging in There' for now in many ways. To the charts...
NASDAQ remains in a range-
The SPX actually looks a bit different ....
Read MoreI really like the way things are stacking up, it seems that some nice opportunities are approaching. Lets look at some charts and you'll see what I am talking about.
Read MoreThings seem to be playing out as expected, but that still leaves a few unanswered questions longer term. Lets look at some charts...
$USD - the pullback has acted exactly as expected (So far)
The weekly chart of the Dollar has been very strong...
Read MoreOften my Thursday report covers Thursday and Friday, leading into the Big Weekend Report, but a lot happened today, so I wanted to put out a Friday report. After a large drop Wednesday in SPX, DJIA, NASDAQ, IBB, etc , I felt we were right on target with the series of charts showing the Wedge Pattern, but were we about to slam right through it and break down? It looked it ...
Today, we saw this in many markets...
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