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As mentioned last week, we want to keep some of our open energy trades on a short leash. They were up 20% or so, so after a brief market review, let's take a look, take some profit, and not overstay that welcome 🙂
SPX - We saw a large doji candle on Friday ( indecision) and on Monday the markets Gapped open on the hopes that a Tax break will help business, but then it sold off. Am I bearish? No, this is day 12 of a bew daily cycle and the move higher was steep, I think we may just drop to the 10sma & my trend line, or go sideways,,,
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Alex - Chart Freak2017-12-05 13:36:582017-12-05 13:48:11December 5th – Don’t Stay Too Long
SPX WEEKLY - Still Bullish? Yes, quite. On a 2 year chart we see that the SPX formed an uptrend channel, and when it got a bit overenthusiastic ( over throw), it immediately sold off and closed back inside. Currently it has closed outside (above) that channel. This can create a steeper incline if it doesn't close back inside next week.
That can lead to more of a parabolic move, and...
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Alex - Chart Freak2017-12-02 23:05:412017-12-02 23:05:41Weekend Dec 2Friday is the last trading day of the week, so let's just look at a couple of the important things and some possible buy opportunities.
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Alex - Chart Freak2017-12-01 11:44:532017-12-01 11:44:53Dec 1- Buy Day Friday
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