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Honestly, not much changed from yesterdays report, except for the depth of the General Market selling. Let's review and try to discuss at least a couple of new things.
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Alex - Chart Freak2018-10-25 04:35:352018-10-25 04:40:41Behind The Beauty Cracks Appeared – As Expected
The selling continued in the stock market, but there is a recent development that I mentioned we should look for.
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DJIA - Yesterday I used this chart and mentioned that we could look for a possible double bottom low, or 'W'-Bottom with divergence. You see it at other Lows formed this year.
Tuesday the DOW dropped over 500 points and broke below the 200sma as a possible shake out / reversal.
1. It is safer to buy a swing low confirmed above the 10sma, as you can see, the last swing low 2 weeks ago failed at the 10sma. However...
2. For higher risk traders using technical analysis, That low can actually be bought with a stop below yesterdays lows, but keep in mind...
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Alex - Chart Freak2018-10-24 10:58:162018-10-24 11:33:1110-24th – The Latest DevelopmentsNothing has really changed since the weekend report. The markets have been choppy and difficult to record any gains over the past few days, but I do love the way the Precious Metals sector acted yesterday, so let's take another look at what we have.
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SPX - You can see that these types of sell offs into an ICL can lead to a double bottom, and Monday our General markets sold off further.
DJIA - You may want to look for something like this
HOWEVER....
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Alex - Chart Freak2018-10-23 11:36:052018-10-23 12:54:28Tuesday October 23rd
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