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With recent market volatility and a potential V-Type Bottom in place in the General Markets, I wanted to review the current markets, but along with that, I will also have a separate 'lesson' at the end of the report. It will address why it is a set up to play long out of those lows, but it is also prudent to proceed with caution. Why use the trailing stop?
SPX DAILY - Day 9 and the SPX closed above the 50 sma Friday. Many here bought this reversal off of the 200sma when it was mentioned 2 weeks ago, and after stalling for a week in a bull flag, it looks like it may give additional follow through next week.
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Alex - Chart Freak2018-02-25 14:21:532018-02-25 14:54:10Feb 24th Weekend ReportAs mentioned in yesterdays report, I find that as each day goes by I have taken profits and lightened the load a little bit since buying the reversal low in Miners. I am doing this until the volatility, and thus the short term uncertainty, passes. Let's review the markets again...
SPX REVIEW AGAIN - Feb 6th I pointed out that Markets may drop a-b-c style to the 200 sma, and then flounder around trying to form a base.
NASDAQ - That went for the NASDAQ & DOW too, as seen here...
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Alex - Chart Freak2018-02-23 06:22:332018-02-23 06:22:33Friday – Carrying A Lighter Load
SPX - REMINDER: 2 weeks ago I showed how the Markets can base build after such a sharp drop & added volatility. I mentioned that they may drop to the 200sma in an A-B-C type drop and then even go sideways. SPX actually did drop to that 200sma after I posted this , so this may be base building. See the next chart...
SPX - So far, the above pattern is playing out. Drop to the 200sma and now we wait and see.
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Alex - Chart Freak2018-02-22 11:56:142018-02-22 11:56:14February 22 – No Straight Path
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