Master Charts Trading - Stock Market Indicators & Trade Alerts
Connect To Us!
  • MasterChartsTrading
  • Blog
  • Sign-Up
  • Members
    • Elite Trading Blog
    • Stock Speculator Blog
    • Training Library >
      • Basics of Trading
      • Risk & Trading Psych
      • Trend Identification
  • Help
    • Hall of Fame
    • Social
    • About Us
    • Contact
    • FAQs
    • Disclaimer
    • Refund Policy
    • Privacy Policy
    • What We Trade
    • Newsletter samples

video Market update February 27, 2015 $SPY $TLT $GLD $GDX $USO $UNG

2/27/2015

0 Comments

 
  Friday, February 27, 2015 Weekly Market Recap. Live charts for this update are located here.

       Major indices hit all-time highs yet again this week, but pulled back a bit by Friday to relieve the overbought conditions. I don’t think this upswing is done yet since no sell signal was generated by our trading system, although we did take some profits.
Watch this video on YouTube here.
       Market breadth deteriorated very slightly, but is still bullish. % of stocks above their 20 and 50 day exponential moving averages dropped slightly. I don’t think it is of major concern just yet.

Bonds (TLT) broke out of its consolidation in the $126-128 area and seem to want to go higher. On Thursday and Friday it retested the breakout. The breakout is holding for now. We opened a small position TLT and may add more once buy signal is confirmed.
For the up move that started in November and ended in mid January, gold fell over 9%. It has now retraced 62% of this up move and seems to have held support here in the $1200 zone and rebounded. This is a positive development for gold.

Picture
We had an open position in DUST (inverse 3x GDX), which we closed on February 25th with a small gain. In this business it pays to keep an open mind. Even though I am long-term bearish on gold and gold equities, its not wise to argue with bullish price action in GDX. Seems like GDX broke out on Friday with a close above consolidation that started on February 17th.

       Gold miners market breadth also improved. Especially the bullish percent index ($BPGDM), when it held at 40%,  was my first tell that there is underlying strength in gold miners (Newmont Mining turned long-term bullish recently).

The strong US Dollar is pressuring commodities. So far oil failed to break above the resistance in the $54 area for 3 times. It is possible oil may head lower and retest its January lows. We went ahead and opened a small short position in Crude Oil by purchasing an inverse oil related ETF called SCO.

       Finally I wanted to revisit $NATGAS that I highlighted last week as a possible candidate for a substantial rebound. Buy signal never materialized and the breakout from February 20th was never confirmed. It is very important to have a confirmation of breakout with a follow-thru, which in this case never happened. I remain bearish on $NATGAS long-term.

That’s it for this week’s recap,

 

Best Regards and have another great trading week!

 

Alexander Berger (www.MasterChartsTrading.com)

Disclaimer, we have:

Open positions: SPY (took profits)

New position: TLT, SCO

Closed position: DUST

Ready to trade? Sign-up Today
0 Comments



Leave a Reply.

    Picture
    Picture

    Subscribe to our mailing list!

    * indicates required
    /* real people should not fill this in and expect good things - do not remove this or risk form bot signups */

    Intuit Mailchimp

    Click to set custom HTML
    Picture
    Picture

    Archives

    January 2025
    December 2024
    November 2024
    October 2024
    September 2024
    August 2024
    July 2024
    June 2024
    May 2024
    April 2024
    March 2024
    February 2024
    January 2024
    December 2023
    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014

    RSS Feed

  All information on MasterChartsTrading.com is for educational and entertainment purposes only, and should not be construed as a recommendation to buy, sell or sell-short said securities. Read full disclaimer.