Saturday, September 17, 2016

The Big Picture after the week ending 9-17-16, with 7 sexy charts

I'll start with the big winner of the day.  DB looked like a buy on the previous week, and was doing find this week until today.  It had gone sell on the half-hourly the day before, but for the most part it was bullish on the various charts.  DB is likely going to be the first bank to go so it deserves a spot here.  It has also become a sell on the daily after today's performance. 
Now, if I may, a gander at stocks in general:


We get a daily buy and a weekly sell.  Intriguing.  I'm personally expecting the fed meeting to go poorly for stocks.  So it might be bullish up till then, and bearish after, especially starting on the 23rd.  During a daily bull market, there can be a day of losses, but they are usually erased the following day.  I can see this playing out on the weekly, it may go up for a week and a half, and then go straight dwell.

GLD isn't a sell, but it will be if it drops any more and takes out that pivot point.  Maybe stocks and gold will go down together.  This does not mean a rate hike necessarily, as the last rate hike didn't see gold decline.  Honestly gold historically has always done better with RISING rates!  Look it up if you don't believe me.

On oil, note the weird frequency for this chart.  I worked that out to be a half day.  So this is not a conventional buy signal.  I did this mini-zoom in from the daily to provide evidence that it might be turning around.  It's been very bearish for a while now.

Because I think bitcoin will breakout someday, it's worth gandering at the charts now and then.  Unfortunately this doesn't allow options, but not everybody wants to play options.  Overall this looks a bit bullish but it's a very week signal, so the breakout is not nigh. 

Finally I'll just leave off with a nice buy chart.  During a down day this stock gained.  It recently broke the dashed line, so it could be in line for a nice breakout.  There is however, a giagantor head and shoulders pattern.  Note the three recent red arrows.  It had been a sell on the weekly, but today it finished about the weekly EMA.

Let me know if you find this interesting.  It took a while to assemble it all, so I'm not going to keep doing it if it's not worth it.

8 comments:

  1. Hello Joe, I have been following your blog since its inception with increasing interest. I appreciate your efforts and admire your altruism, i hope you continue. I check your blog several times a day, so your frequent postings are useful. Mark

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  2. Joe, everything you have been doing is informative and appreciated. FWIW, I have been messing with the settings for the indicators for TradingView. The trigger signals (TV) looked to me to be lagging behind those given on AT Pro. I seem to have gotten them in line. If anyone is interested and wants to try them out, let me know.

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    1. Hi Sanford, I am using TV. Can you please guide what I need to do. I don't know what AT Pro is. Thanks

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    2. I agree Sanford. The Tradingview signals doesn't trigger at the same time. I would also like to test them out.
      veidar_97 (at) hotmail.com

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  3. Hi Joe, I too am grateful for this blog. This post, however, I find to be the least valuable of all you have posted to date. Not sure why it doesn't ring my bell, but it doesn't!My suggestion is to please keep doing all the other stuff but don't put too much energy into a repeat of the "7 Sexy Charts".
    That's my 10 cents worth. Thanks again.

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    1. I'm trying to provide a bit of a long term view, so it might be less exciting without much showing up in this long term view. So I guess I'll just take a look now and then and if it's more interesting then I'll post.

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