It Looks A Little Mixed

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Yesterday was Fed Wednesday and as usual we had a little reaction to the Fed Release. Lets take a look at the charts

SPX- closed higher but couldn't hold above the 50sma. It still looks bullish at least for a run to the highs of this trading range. Why would that looked like a mixed picture?

SPX 6-17

The weekly SPX  looks to be weakening over time. Tops are a process and we could be seeing that process playing out now.

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Fed Wednesday- Think Outside the Box

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  First we look at the charts and see what we can learn from recent price action. Short term indecision can cause volatility or lack of direction and we see that lately.   Today at 2 p.m.  will we get some additional information from a Fed Release  that pushes various market sectors one way or the other into a trending move?  For Gold, Silver , & Miners I am thinking outside the box a bit today . Lets see what the charts are indicating...

SPX - The MACD looks to be weakening at this point  ( weaker MACD & lack of follow through so far).

SPX 6-16 Read More

Sideways Moves

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As mentioned in prior reports, sideways consolidations and bases can build up energy for larger directional moves. The Vix chart  above ( click on it) seems to be basing and other sectors also have been moving in sideways in consolidations. If the VIX breaks out & runs eventually, the markets should correct.  Lets take a closer look  at recent activity and see if we can determine what it means.

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SPX- So far the dips have been bought and trading this pattern has been obvious, but is it due to change sometime soon?

SPX 6-15  

Lets take a look at the NASDAQ...

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