Sunday night August 29, 2021
My Moment
VantagePoint ai Prediction for Tomorrow
VP clearly projects the anticipated direction and magnitude of tomorrow’s market. One can use any symbol; I trade the EMini S&P short-term and select stocks for my long-term portfolio.
My read of this chart is: Looks like we are going exploring again tomorrow. VP predicts higher prices than yesterday with the predicted low above Friday's low but not higher than Friday's close. No new highs predicted yet in the Dow as in the NQ and ES. Note that the horizontal bar at the bottom of the chart has turned back to green, signalling bullishness for tomorrow.
The MAVs look confused to me, with all three hovering about the zero-line. It is hard to say what might occur this coming week.
Notice the orange vertical and horizontal lines, and the trendlines. They are telling. The vertical lines show where the weeks are. I give you predictions on Sunday night, and the rest of the data between vertical lines is what happened for the week. The horizontal lines show my Attractors (aka support and resistance). I hate to be questioning their prediction, but I think there is room on the downside for the averages to test this week before continuing on higher.
The futures markets this afternoon are just holding their own near Friday's close.
While this prediction is good for tomorrow, wouldn't you want to know every day of the week? Of course, the best thing is to run VP every afternoon, not just on Sunday nights, like I do for this newsletter.
VP (VantagePoint ai Software) suggests that tomorrow should explore a bit higher price and lower prices as well. But it doesn't yet fulfill new highs as the ES and NQ have done.
SunnyBands Implications
Dow Jones
The Dow was pretty much up this week, but slowly. Still, it was up about 500 points on the week. It started the week by bouncing up off the DMA and marched up to the upper-inner band. It didn't yet hit the outer band, which shows hesitance, but I think it will make another pass at hitting the outer band, and either followed by or preceded by touching the DMA again.
Last week I said that the market guess for the week was 35,574. Good call! It went to a high of 35,479, just sly of 100 points difference! I still think the Dow will catch up to its sister indices, and reach that mark and higher. It is above the upper-inner band but has yet to reach for the outer band. I think it will.
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I am still predicting Dow 50,000 but not just yet. We still have some downs and ups to explore before we get there.
S&P 500 (ES)
The ES is rapidly approaching the next Fibonacci extension at 4,535. I suspect we will see it sometime this next week. We still haven't penetrated the upper-outer band, so that's always a goal. And ususally when it penetrates that it pushes it on upward for a bit. The DMA lines have gold on top, since 11/10/2020. That's a long run up. There was a sideways channel from 9/2/20 - 11/17/20 which was then broken to the upside, where we have beenn ever since.
There's gotta be a correction sometime! " Everyone" is saying October, so it might not happen. What "everyone knows" often doesn't happen.
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Since this is a weekly missive, we miss the daily changes to the indicators. Send me an email if you are interested in daily updates. I can have them sent to you directly from my trading platform. Or better yet, order SunnyBands and DMA_H for your own computer. Of course, like all my products, they work on intraday charts just a well. All symbols, all timeframes.
Fibonacci Retracements and Extensions
Fibonacci extensions are coming true all over again. The ES is supported by the Fib line at 4.292 and attracted to the line above at 4,584. This week we are currently at 4,513 with the ES futures currently up 2 lazy points as I write this. Will that make tomorrow up also? Don't know; I don't know how the overseas markets will trade after I go to bed in a few hours. The next Fib line lives at 4,584 and now we have bested the 4,500 level, that I mentioned last week was a Natural Number. It is onward and upward, unless some big announcement goes the wrong way.
To get a long-term perspective, let's look at the various positions called for by the consensus of timeframes. They are all bullish, but some are "turning down". It's a mixed bag this week.
Wouldn't you like to have these indicators for your own? They are good ones!
Call me (1-760-908-3070) and I'll send you a 7-day FREE trial of these indicators for you to see for yourself.
Stocks
In this section, I like to take a peek at a few of my favorite stocks. Like Cathy Wood, of Ark Invest, I like disruptive stocks, those that promise radical changes to the way we live, like TSLA. I also trade what I know. I use Amazon in real life, so I trade AMZN. I use Verizon as my phone carrier, so I trade VZ. I use Microsoft software so I trade MSFT and so on. Let's first look at the RadarScreen view of a few stocks:
The chart above is my main research tool. It not only has my DMA_H (nothing sorted today) predictions, but has the PHW indicator sorted which allows me to see which stocks are the most tradable. Notice that AMZN is the most tradable on a daily chart. AMZN is great for a swing trader because it vascilates back and forth four or five hundred points every 4 to 6 weeks.
When I sort on PHW from highest to lowest tells me which stocks are the most tradable. A stock that just moves slowly from A to B is an investment, not a tradable. I'm looking for wide swings from which to profit, not just buy-and-hold.
To me trading is not about being right! There are lots of advisors and stock pickers out there who boast about getting MSFT at $32 and holding it for gazillions in profit. My trading style is to specialize in a few things and be good at them. The stock pickers never tell you how many they picked right, only the few that were the big winners. I specialize in a handful of stocks for the long swings and the EMini futures for intraday trading.
The columns just past the middle of the RadarScreen window show a colorful area that tells me at a glance the configuration of my DMA_H on all the stocks in this portfolio. (This indicator is called DMA_R_H, meaning DynamicMovingAverage RadarScreen Histogram.) Green Bearish \/ means the stock has been bearish but is now turning up. Purple \\ means primarily bearish. (These are the colors in the DMA_H and SunnyBands DMA. So, "purple" means Purple is on top in the DMA.) Gold Bullish // means the stock is moving upward. Red Bullish /\ means the stock has been going up but has now turned downward.
Of course, you can sort on any or several of these columns with this indicator. Color coding things makes it easy for me to spot opportunities at a glance.
From this look (above) at the RadarScreen (like a spreadsheet) I can sort by SDMA, which shows me all the bullish stocks on top with Dir showing me which are moving aggressively upward and which have been moving up but have now turned down or the PHW which shows me the most tradable stocks. Call me, I'll explain it. 1-760-908-3070 PST.
Click Here to see and listen to the DMA_H Live with BingTicks!
TSLA (my favorite stock) has been moving steadily upward but not making any breakout moves. Price is currently above the DMA, and above the 21-day MAV. Both good signs. I know this chart has lots of lines on it, but everything about it says upward to me. The next Attractor upward lies at 780. The DMA_H is showing a red vertical line now, which says price is lingering, but since price isn't making new lows, I don't go short yet.
Notice a newish indicator on this chart. My PennantFinder indicator draws congestion patterns, highlighted by blue triangles and red breakout lines. This past week, while Sam Tennins and I were working on our new book "TradeStation EasyLanguage OOEL Made Easy!" he taught me how to highlight the pennants with a yellow background. It definitely makes it easy to see. If you already have this indicator, call me or email me so I can send you the update. (Updates are always free.)
I'm hanging in there with Cathy Wood and anticipating her prediction of 4,000 for this stock. Every time it goes lower I buy more shares.
ADSK had a big down day last week. I bought in at the bottom of that move. Does it mean that is the absolute bottom? No. But it might be. And if drops lower I'll buy more. Why? Because I like the company's products and there is an Attractor right below current price that might be hit or not, and the low price of the move down touched the lower SunnyBand and it also hit the 55-day MAV. That's my story & I'm sticking to it.
Consider getting the DMA_H and SunnyBands for yourself. I totally rely on them for my own trading.
Send me a note telling me what stock you would like to see analyzed next week.
BitCoin, Gold, Bonds
BitCoin
In the chart above, price is above "everything." BitCoin is above the DMA, above the 21-day MAV, above the 55-day MAV and above its recent Attractor of 47,618. Nevertheless, it is sideways this past week. Notice the DMA_H is red and it is sloping down. I didn not make a move because it is sideways, not making new lows. The DMA is not yet horizontal, so I am watching carefully for price to break down so I can buy more cryptos.
Gold
Gold bounced off it's Attractor and the 50% retracement Fibonacci line. It bounced off a sideways DMA. It hasn't yet made new local highs, but it has broken upward through a downward trendline. It should at least reach for 1,856 which is the next Attractor above. VantagePoint is predicting a sharply higher move tomorrow. I am expecting higher gold prices overall. How high? I wouldn't be surprised to see $2,000 again. Near future? Nope. Many months, but it is influenced by inflation (which "they" say is negligible.)
Bonds
Bonds are holding steady this week at the DMA and at a significant trendline upward. If price moves through either, it could mean weakness that would follow through, on down to the lower SunnyBands. The DMA_H has been crazy whipping back and forth from bullish to bullish-down making it very difficult to follow. The real question is: what price is China willing to pay for our debt?
If price is weak tomorrow it should be halted by the lower-inner SunnyBand. No telling what the problems in Afghanistan will do to bonds. The futures are currently "sharply sideways." The expected short-term high is at 166-22/32. VantagePoint's prediction for tomorrow is sideways to up, but not exceeding the prices just mentioned.
MY DIATRIBE FOR THE DAY
"My Moment"
I am on an adventure, and writing about it as it proceeds. Sam Tennis, whom you probably know from "Ask Mr. EasyLanguage", is teaching me EasyLanguage Object-Oriented programming (OOEL). Along the way I am writing my misadventures combining his masterful command of the language and my skills with EZl and writing, to pen "TradeStation EasyLanguage OOEL Made Easy!". It should be done in about a year. Then there is the time it takes to publish it. Soonish. Next I will open a new website: www.easylanguage OOEL.com for all to see. Keep us in mind.
IMPORTANT: Nothing in this newsletter is an offer to buy or sell securities of any type, nor is it advice to make any financial decisions. You are in charge of your assets and only you know your risk tolerance and how much you can afford to lose. Never invest/trade with money you cannot afford to lose. This information is intended as educational only. DISCLOSURE.
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Products
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"Thanks very much; I do like hearing from you [, Sunny]. Thanks to SunnyBands I now have a net worth above $1.25 Million." -Don T. [Editor's note: Don started 3 years ago with a $25,000 account. And, he told me yesterday that his account is now well over $2 Million.]
SunnyBands - SunnyBands are a extension of my DMA. The two lines above and two lines below the purple and gold DMA alert me to where the market is going. They are constructed from ATR bands on either side of the DMA.
DMA_H - Sunny"s DynamicMovingAverage in histogram format, using sophisticated math to smooth out the whipsaws.
Of course, my indicators work on any symbol, any time frame. In my own trading I use 1-min charts of the ES.
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