Exclusive Strategies

  The Big Picture Outlook is based on current information and the formation of current set ups and what they seem to indicate going forward, but they cannot be considered 'Etched In Stone'.    They give us a solid idea of what we may expect in the upcoming weeks or even months, and that helps us to move forward with our trade ideas.  We have currently taken some trades at Major bottoms  (ICLs)  in the Equity and Energy Sectors, and we have used the Big Picture set up to have confidence in those trades.

   So far,  everything is right on track for what that Big Picture outlook here at Chartfreak  has been for the past few months.  The current trades are playing out well, but as time goes on, we need to stay alert to those big Picture set ups too.  Things can gradually change over time, and adjustments are also made if necessary.   For example, some may raise stops, others may decide to cut leverage, or even add to current positions , depending on how things are playing out.      My admonition remains  that as time goes forward, we need to stay current, stay flexible or adaptable, and Stay Frosty!  Yes,  we want to continue to examine the markets as we watch and see how things unfold.

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That said, Let's examine our current Big Picture Market set ups. I am noting one change in the Precious Metals sector that needs to be mentioned and monitored going forward.

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I said this in Friday Mornings report: 

SPX –  After about only 4 days sideways, The SPX , DJIA , NASDAQ , etc are slowly pushing above the 50sma.  It does look like the SPX held the 8 ema, and wants higher price, so that may become the lower trend line.   The 200 sma is the next likely target.

SPX Daily 1 -  I also noted a rising wedge that might cause a  pull back  at the 50sma, but here we see here that on Friday it  did break above the 50sma,  and a run to the 200sma is possible ...

 

SPX Daily 2 -  Since Friday saw the markets push higher, that wedge  may become a channel higher.  Read the chart.

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