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Each trade that you take has some risk to it. Some trades are low risk set ups with higher probability of success and others are just plain risky, depending on the set up. We will discuss that a bit later in the report.
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SPX- The Fed didn't change this chart very much. I still see similarities between the double bottom in Aug & Sept, but it is weak. Notice the candle for Wednesday rallied on the Fed and gave it up. The buy the dip crowd is weak. We are not oversold yet, but getting there.
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Alex - Chart Freak2016-02-11 12:05:042016-02-11 12:20:14Safety FirstToday is sort of a Fed Wednesday. It doesn't mean that there will be some big surprises, and in fact I do not expect anything like that, but I didn't want us to go into this blind folded. Certain areas of the market are due for reversals in my opinion, and a Fed testimony before congress can act as a catalyst, even if nothing new is said. Lets just Look at the charts.
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Tuesday the NIKKEI was down 900 points, and it is currently down another 400 this morning, but...
They couldn't get the sell off in the U.S. going. THAT should have sold off the U.S. markets if they are going to drop In My Opinion. I've been expecting a bounce, no change.
I have mentioned that when I look at the Banking index, it broke down and is struggling at lows...
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Alex - Chart Freak2016-02-10 13:19:572016-02-10 13:24:01Moving Forward On A Fed Wednesday
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Alex - Chart Freak2016-02-09 11:58:452016-02-09 12:14:32I’m Starting To Sell, Not Chase
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