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I feel like I'm living in that movie Groundhog Day, where you wake up and though some things continue to change, its just a repeat of yesterdays events. The equity markets moved a bit , but its the same old movement, and leaves me with the same conclusion. As for GOLD & Miners, NATGAS, and Oil? I am expecting changed that I will discuss here.
First lets look at the SPX as of yesterdays close
You can see that we are getting the same movement as expected and ...
Read MoreI've started this report a few times and there is so much going on, that I found it difficult to explain everything that I see, so I'm just going to cut to the chase and try to show basically what I am observing in various markets and what the possible implications could be. Lets start again with the general markets. SPX, QQQ, DJIA in JANUARY are still unfolding as I thought they would way back when I posted this in DEC. I saw weakness increasing
Our expected sideways consolidation continues before a directional move takes hold. We look for weakness or signs of strength going forward, to see if this is going to resume as bullish or bearish (short?) Here is what I'm seeing...
Read MoreIts option expiration and often we get a large push of volume . The markets are looking more and more like they are heading in the direction that I have been calling for.
I pointed this out on Jan 6
It has followed that exact path and this is what I am thinking going forward...
Read MoreVolatility is here and the markets are rocking and rolling. If you have been reading my thoughts here, you know which ones are 'Buy the dips' and which are not. Lets review.
I said that I was interested in this , for one thing. A break above 22 would be 'Interesting' to say the least. Do you know where we are now?
Well, the markets gapped down big yesterday and and thus Vix gapped open to 24 recently and then sold off back under that line to $21.50 yesterday . Is that the end of it?
Read MoreThis message is an afternoon update.
Read MoreJudging 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.
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