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Fridays 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 …
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Friday 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…
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Not 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 ….
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I 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.
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Things 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…
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Often 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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We re-entered Energy/ OIL stocks for a while waiting for Oil to POP. It really popped yesterday and overnight too, thats a perfect reminder that patience pays off if you’re looking at the charts correctly. Gold & Silver Popped overnight and we’ll discuss that, there is a Bullish and a Bearish Scenario that I have been pointing out and believe it or not, both are still possible. Then I have one more important reminder to point out. Lets get to the Charts…
This was my NASDAQ BEARISH WEDGE – from yesterdays report
This is the NASDAQ chart after yesterday…
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Lets discuss the overall markets and then I’ll tell you why I am looking for clues…
QQQ – Not much has changed, this takes time to play out, this was March 23
So we look at what happened since then…
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Not a lot has changed since the weekend report, so lets just look at some charts…
March 20 – The NASDAQ looked due to pullback
SO did it start to pullback, and if so, how far is it likely to do so?
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As expected , the Fed Mtg Wednesday caused several areas of the market to really start popping. There is so much to cover this weekend, so lets get right to the (29!) charts…
Starting with IWC – As pointed out over the past several weeks, This is a bullish looking set up
Another Bullish looking set up is he following chart…
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