Wed Feb 13 – Like watching Paint Dry

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When the markets get later on in there cycle counts and start to get a little choppy, it can be boring and even a little tricky. You'll see what I mean by tricky when we cover the general markets and Oil.

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SPX #1 - The SPX has hit a new high as it pushed against the 200 sma Tuesday after a brief pullback.   Does that change anything? ...

   

SPX #2 Feb 5th  -  A while back I had mentioned that in the past that we saw false break outs at the 200 sma before, so that could happen again.   So breaking through that 200 sma doesn't really change anything, but I'll show you why it gets a little tricky shortly.

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Feb 12th – Tuesday Talk

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Not much changed in Mondays trading , but I want to discuss something in addition to a quick review and possibly a new sector perking up.  Let's get right into it...

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SPX - No change here, I think that the upside on the first daily cycle has run out of steam and a dip will come before another move higher.

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February 9th – Weekend Change

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Let's discuss last weeks activities and the expectations of what is likely to come...

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SPX WEEKLY  - Here we see a weekly DOJI formed and it formed at the 50 week MA.

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An Index & Market Update

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The following is an update on the market and indexes.  The charts are a sample of Alex's work from the week.    (2/8/19)

We have been expecting a bit of  pull back in the General Markets, and it would likely start after the SPX tagged that 200sma.   I am not expecting a wash out sell off, it will be more of a ' Buy the Dip' type of pull back into the first dcl, but if you want to hold on to most of your recent gains?  Then at the first signs of cracks in the ice,  you would certainly tighten stops or take some profits.  You want to Stay Frosty for a while.

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SPX - The SPX tagged that 200sma,  dropped to the 10 sma,  and bounced  bit into the end of the day. We are on Day 30  and I expect this to eventually back test the 50sma.

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February 8th – Just Stay Frosty

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We have been expecting a bit of  pull back in the General Markets, and it would likely start after the SPX tagged that 200sma.   I am not expecting a wash out sell off, it will be more of a ' Buy the Dip' type of pull back into the first dcl, but if you want to hold on to most of your recent gains?  Then at the first signs of cracks in the ice,  you would certainly tighten stops or take some profits.  You want to Stay Frosty for a while.

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SPX - The SPX tagged that 200sma,  dropped to the 10 sma,  and bounced  bit into the end of the day. We are on Day 30  and I expect this to eventually back test the 50sma.

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Thursday February 7th – A Mixture

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February 6th – Wednesday Watchfulness

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I've been mentioning that we could start to see some short term changes , possibly as soon as Wednesday of this week.  Let's take another  look at the reasons on the charts...

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Feb 5th – Time For A Change?

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Nothing has really changed since the long weekend report, but I'm going to discuss why it might be time for a change. Let's begin...

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February 2nd – Weekend Update

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SPX Weekly  #1 -  This is what I have said that I have been expecting out of the first daily cycle, and now we are hitting 2 resistance zones.  We May or may not be at a top, but timing wise, we are close.  We will dip to a dcl soon.

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Trading Technique: Go Where the Action Is

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(The following is a sample of Alex’s work from the week.  This is more of a sophisticated trading technique best served for traders with some experience under their belt.)

(From 2/1/19)

This example is a case where a trader is holding several positions and while active trading them, notices that one is beginning to run while the other is maintaining its bullish nature; but, it is ‘crawling’ along.  Alex mentioned in the comments yesterday that he was planning to roll part of his position, here is his explanation:

I sold some ACB and bought more HEXO.  Why?  Is there something wrong with the ACB Set up?  No, but using intra-day charts,  HEXO looked ready to start running  ‘NOW“.   I have been waiting for HEXO, ACB, and NBEV to get moving faster, but they have just been bullishly crawling along.   Well,  if I see one start moving on intraday charts… I just wanted to flip over to the action, but nothing is wrong with ACB, and I still own some.

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HEXO – So I like the way it has held the 10 sma and volume started to surge today again.  ACB is still on the 200sma, it just needs to get moving.   Who knows, maybe  HEXO runs to $7, and then ACB starts going, and I switch a portion back , from HEXO to ACB.   That is just how I trade.

 

(From 1/31/19)

For the experienced trader, playing the ‘bounce.’

KEG  – KEG has a double bottom low, yet the MACD is strongly pushing higher.  The first low was the Final capitulation low, usually a solid Bottom.  It closed green, so we have a small reversal, but if you see upside, that could be a buy with a stop under the double bottom lows.   I  have to post this as a bit risky, it has had a reverse split and sold off heavily etc, but notice that  it sold from $10 to $1 in a month.  A ‘Bounce’ alone could offer very good gains for the experienced trader. 

 

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