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Even though only 1 day passed since the weekend report, we do have a lot to cover, so let's get right into it...
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Alex - Chart Freak2019-04-23 11:14:492019-04-23 11:14:49Tuesday April 23rd –To the joy of many readers here, we are finally getting some of the sale prices on Miners that we have been expecting for a while now. Let's take a look at our weekend review and see how things stand after this 4 day trading week...
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SPX WEEKLY - We are coming due for a pull back cycle-wise. In the past, we have seen pull backs drop to the 50 week ma, as shown here.
1. It could happen at the next drop to a dcl, or
2. It may happen after a small drop to a dcl and then a break to news highs that rolls over, as shown here.
Let's discuss this a bit further...
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Alex - Chart Freak2019-04-20 14:33:412019-04-20 14:33:41April 20 Weekend ReportFriday is a holiday and the markets are closed, so today is the last trading day of the week. Earlier this week I had mentioned cycle counts and a possible bearish rising wedge, so 'tighten stops and stay alert' was the thought for the General Markets at that time, but now? It may be time to consider 'Safety First'. Let me explain...
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XBI #1 - This was the XBI ( A Biotech ETF) Tuesday. It landed on the 50sma and also had the support of the 200sma below it.
XBI #2 - This was the XBI on Wednesday, the very next day. Look at that volume and how easily it sliced right through both moving averages. If that is some kind of warning of what might be coming in the rest of the markets, we better be listening.
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Alex - Chart Freak2019-04-18 11:10:362019-04-18 11:55:42Thursday April 17th
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