APRIL 2016 – REVIEWING THAT BIG PICTURE

Here at Chartfreak,  we have always discussed the day to day market movements,  trade set ups, and the bigger picture where things seem to be heading as time goes by.  So in this weekend report, lets discuss the various sectors of the markets again, short term and the Big Picture scenarios. 

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SPX QUARTERLY - If you were subscribing back in January, you may recall this chart.  I was pointing out the break below certain critical areas at prior tops never recovered, and I said we would watch these Quarterly, Monthly and Weekly.

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April 1 – Jobs

The Jobs report was released and I dont really see anything that I didn't expect at this point. Since it is the last trading day of the week, I'm just here to do a quick review.

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SPX -  This was the chart in the Thursday report. I expected a pullback with that toppy candle Wednesday. It may not be a huge pullback, I do expect another run higher in the next daily cycle.

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Wednesday March 30 report

The various sectors of the markets have been a bit tricky to identify strength-wise in the short term. I'll show you what I mean...

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SPX - With this set up,  I wondered if we saw an   Early dcl.  We had the trend line break and a move below the 10sma. If THAT shallow pull back is all we got, this little rally could become quite the threat moving higher.

SPX 3-29

But...

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