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Well, it started to get choppy and difficult in various sectors a few weeks ago, and then we went into full sell down mode in October for the General Markets. Miners were sideways and choppy, forming bases but difficult to hold at times, and suddenly many of those bases have been breaking out higher. It has been a rough ride in the Markets, even the crash test dummies are complaining, but today is Friday, the last trading day of the week.
We will be heading into a weekend that is followed by a 1/2 day of trading Monday ( what's the point?) and a closed market Tuesday, so let's take a look at a few things before this week of trading finishes up....
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Alex - Chart Freak2018-12-21 12:38:352018-12-21 12:43:20Dec 21st- Stock Trading For DummiesI think that we knew that the Fed would raise rates, and I think that we had a good idea that there would be a'Reaction'. So let's take a look at Wednesdays market action ...
SPX - This was my chart going into the FED WEDNESDAY. Day 34 Tuesday.
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Alex - Chart Freak2018-12-20 06:33:162018-12-20 06:33:16December 20th – Post Fed SyndromeToday is the FOMC Decision, and even though the rate hike is supposed to be figured in, These markets are stretching out and could see a sharp reaction when the time comes. Let's take a look at Tuesdays market action...
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SPX - This small candle with a new low on day 34 allows for a swing low with a move above Tuesdays highs (2573.99). If the FOMC Decision changes the markets direction, it is possible that we will have a DCL & even an ICL.
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Alex - Chart Freak2018-12-19 05:47:062018-12-19 05:47:06WEDNESDAY – FOMC DECISION
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