1-10-2016 Coming Together

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As time goes by, it certainly seems like the pieces of the puzzle are coming together to reveal the Big Picture that I have been discussing for months.  2016 could be a great year for some, painful for others if this continues. Lets review.

 

SPX WKLY

SPX WKLY 1-9.  

RUT - NOT VERY ENCOURAGING IF WE DONT GET MORE THAN A BOUNCE SOON

RUT 1-8 wkly Read More

Bouncing Higher

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Miners are moving higher as expected. Granted, they aren't exactly acting like the above picture, but lets look at some charts and see where some opportunities may be. 

 

EGO - After basing in a tight inverse H&S type base, EGO  is just breaking out above the 50sma now.

EGO 1-7 Read More

Testing

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I dont regularly watch CNBC, but I was in the waiting room today and CNBC was on and I actually saw them reporting that North Korea tested a Hydrogen Bomb and caused the markets to sell off. I guess they dont use charts?  Was todays sell off sudden and unexpected? 

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SPX -  We've been discussing it for months here at Chartfreak.   This Dec 31st chart showed that the SPX hit the top of its trading range, lost the 50sma, and was likely heading lower into 2016.

SPX 12-31

Now lets take a look at potential targets...

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