Archive for month: August, 2019
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Alex - Chart Freak
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Alex - Chart Freak2019-08-16 05:37:342019-08-16 05:37:34Friday August 16th – A Time To Rest?Recently I have been pointing out various areas where divergence seemed to be sending out a warning. Wednesdays trading got pretty ugly by the end of the day, so let's see how everything was affected...
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NASDAQ DAILY - We have been trading the Miners more than anything else, but for those that take positions in the General markets, this reversal at the Red Arrow could be bought for those wanting to go long. I also said that it would need a stop, and the stop should be Raised as price moved higher, due to the wide open MACD gap. The Nasdaq was rejected at the 50sma, and ...
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I've heard the old expression, "What a difference a day makes", but Now I truly understand the expression: "Wow what a difference a day makes! "
Read MorePick any Sector and it looked a bit Choppy Monday, and even though Gold & Silver are looking like they are forming Bull Flags, Miners dropped. Let's take a closer look and see what Monday brought our way...
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In this report, we will discuss what time it is ...
Read More There were many smiling faces on Monday when Gold, Silver, and the Miners took off again ( maybe only until they looked at their IRA, though). On Monday, the SPX, DOW, and NASDAQ took a dive. The DOW was down almost 1000 points at one point, The NASDAQ was almost down 350 at one point, and the 50 sma, which I though might at least hold as a short term support, was sliced through rather easily.
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The first 2 charts below are from this past weekends report, highlighting internal weakness, and then we'll cover the markets with a special section about the Miners.
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SPX WEEKLY – This chart is a sign of weakness at the top. The Markets dropped Post Fed and remained near the lows Friday, the Miners recovered. This may be the start of the big picture trend going forward for the end of 2019. Markets lower / Miners higher.
NASDAQ WEEKLY – The NASDAQ has the same weakness showing up now.
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