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Please read the weekend report, this is part 2. I wanted to post a few trade ideas...
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Read MoreThe Fed Decision is behind us and just when we thought that maybe we could enjoy a week free from extreme volatility, we have BREXIT this week. The vote regarding the European Union is on Thursday, and that could give us another week of volatility. That said, by using Cycle analysis and Technical analysis, we have been expecting a certain outcome and things do seem to be lining up as anticipated. Lets do a review.
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SPX- We may have seen a 1/2 cycle low. This would lean more to the bullish side indicating that the current consolidation is building steam to attempt a break out. This looks like a 'W' pattern with a handle.
The W-Pattern is a bullish pattern mentioned in William O'Neil's Books. This one ran to $800, and is currently at $1800.
That is not the only Bullish chart on our Brexit Week, there are more ...
Read MoreWhen a climber begins his or her ascent, they are full of energy and the start of the climb may be easier than when they near the peak. As the climb continues, you may see him or her periodically rest, shake out the tightness, even drop back and pursue a different path to the top. I often see that same thing happen in the climb of various stock market sectors, and Precious Metals and the Oil sector is experiencing that now. They remains bullish long term in my opinion. We will discuss that briefly, but first...
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SPX - SPX put in a reversal on Thursday just as it started to lose the 50sma. We'll see if there is any follow through to its recovery today.
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