Sunday September 11, 2022 VOLUME 6 ISSUE 29
If you Didn't Attend the "EasyLanguage Forum", but would like Access to the Videos and Slides, here's where to get them. Sam Tennis and I covered EasyLanguage from Beginners to Intermediate. And even some OOEL. It was intense and lots of fun. If you couldn't come and want the materials you may purchase them for a modest cost here: OrderForm. You won't learn EasyLanguage anywhere faster.
If you Registered for the EasyLanguage Forum and would like to view the Slides and Video, use your email and password to Login. If you forgot your password, just shoot me an email.
If you didn't Register and didn't attend the classes, you may want to access the Slides and Videos. For a modest cost, they are HERE.
Samuel K. Tennis is world-renowned as "Mr. EasyLanguage" as he was the lead programmer, designer and programmer of EasyLanguage when he was working for Omega Research, which changed its name to TradeStation in 2001.
Sunny J. Harris has been a professional trader since 1981 (through all the Bear and Bull markets) and author of "TradeStation Made Easy!" She began using TradeStation & EasyLanguage (at the time "System Writer") since 1987 and has been a TradeStation Beta Tester ever since.
Sunny and Sam have been friends for more than 30 years and are partners in writing our upcoming "EasyLanguage Object-Oriented Programming Made Easy!" It looks like, at this point, it will be about another month before it goes to press. If you want an autographed copy, click here.
I have added three new pages to MoneyMentor in the Reference Section: Diagramming Sentences & Parts of Speech, a map of Russia, and Taxes. Take a Look. And Glenn Neely of NEoWave.com has consented to allowing me to post his Market Forecast for the S&P. Take a look below.
Contribute Please
Please enter a description
Please enter a price
Please enter an Invoice ID
September 6, 2022 I gave a talk at TimingResearch. You'll hear and see how I look at Fibonacci and Elliott Wave with SunnyBands. Click to View.
Podcast: The Sunny Harris Show! with Sam Tennis
If you haven't yet had a chance, please take a look at my Podcast: "The Sunny Harris Show! with Sam Tennis". It's FREE. Listen while you Trade.
The most recent Episode is an enlightening visit with David Kosmider (timingresearch.com) who brings us free gurus talks and seminars. Get to know him personally! The podcast is not to miss. Before that were legends Jody Samuels, Harry Boxer and Peter Eliades and then Michael Filighera illustrious Elliottician. Past episodes include: Glenn Neely (Elliott Wave Expert: neowave.com), Perry Kaufman (prolific author and master trader: kaufmansignals.com), and technical Rock Star Tim Slater. Upcoming episodes include Wally Olopade of RightSide Trading, Joe Krutsinger and now Anka Metcalf. I listen to Podcasts while I trade! You don't have to just sit there and listen and do nothing else.
Don't miss these Podcasts! These have been delightful and enlightening interviews into the lives of legendary traders and their take on the markets.
Link to Sam Tennis' Products below. Link to Sunny's Products. NEW: Scan for bullish stocks.
Please take a look at my YouTube channel, (search for Sunny J. Harris on YouTube) subscribe, and give me ideas of what else you would like me to include. I'm ready to record more videos. Comments.
QUICKLINKS: VantagePoint | Last Week I said | Dow | ES | SunnyBands Implications | Trading Room | Automated Strategy | Multiple Timeframes | Stocks | Oil | BitCoin & Etherium | Gold | Bonds | Diatribe | DEFINITIONS| Quips & Quotes
LEARN EASYLANGUAGE! From Sunny & Sam! . Recordings & Slides Available Now . LEARN TO SPEAK EASYLANGUAGE . PROGRAM WITH CONFIDENCE . TEST YOUR OWN STRATEGIES . 5 EASY LESSONS . DON'T EVEN READ THE BOOK
VantagePoint ai Prediction for Tomorrow
VP clearly projects the anticipated direction and magniture of tomorrow’s market. You can use any symbol; I trade the EMini S&P.
My read of this chart tells me that all three MAVs are now moving decidedly upward. And, the short-term and medium-term MAVs are above the zero-line.
The VP projection for tomorrow is for a follow-thru up day with a high of 32,263 and a low of 31,933. Those numbers are still lower than the numbers in the last newsletter so we need some more follow-thru to establish a bullish move.
Friday's close was 32,152 with a low of 31,876 and a high of 33,365. The prediction for Monday calls for a higher high and a higher low.
Glenn Neely's S&P Prediction
Take a look at how accurate Glenn's chart patterns have been with his NEoWave River Theory and NEoWave technology. See where he thinks it will go next. Click on the link to visit his website. Notice that he called for this down move over 3 weeks ago, which happened and now he thinks we will continue upward for a while.
http://www.neowave.com
Last Time I Said:
"We are currently below the 200-day and 2-day MAVs and sitting right above the 50-day MAV. Breaking below the 50-day MAV will signal more bearish activity is in store. I anticipate we will accomplish that tomorrow." And we did just that. Over the next two days the market fell further before turning on Wednesday and making a bit of a recovery.
SunnyBands Implications
Dow Jones
The stats for the Dow are:
This tells us that the market made a bounce and a gap up. The Fibonacci lines were all touched perfectly.
So much for the Fed tightening. From Thursday and Friday's bounce it would seem that no one cares, or that was already built into price.
In after-hours trading Dow futures (YM) are up 74 points.
We are currently right at the 50-day MAV with the other two up above at 32,685 and 33,583. I'm guessing the market will go right on up to the 21-day MAV before it resumes it's downward treck. The DMA is Flat so that might be tough to do. Usually when the DMA Angle is Flat we see some stumbling at the DMA, which lies at 32,304.
Be on your toes with your long positions.
S&P 500
The stats for ES are:
The DMA_H has been Green for the last 3 days. The buy signal came in at 3,997 and we are now at 4,085. 88 points times %50 is $4,400. Not bad per contract in 3 days.
Nevertheless, the Purple DMA is still on top which puts downward pressure on price action and might work to contain any further up move. But, the DMA is Flat, calling for congestion before it can break through the DMA to move further upward.. On Who's On Top you can quickly see that Purple is still on top, speaking to bearishness, or at least some congestion as we try to break above the DMA.
The ES is now above, barely, the 50-day MAV and the 200-day MAV and the 21-day yet nearly 100 points above Friday's close.
Lots still depends on the state of the Recession and what the Fed does next to Interest Rates. The 75-basis point increase last month didn't seem to deter the market from going up, so who knows. We have another report about what they are going to do on September 20th (my birthday).
RadarScreen of Stocks
Here again, back by popular demand, is my RadarScreen of Stocks:
Notice that BKNG is still near the top of the list, but is now second with NVR on top. NVR has had lots of moves to the UOB and back to the LOB, and is now sideways to down, so that accounts for the "tradability."
Stock Scan for those Above all 3 MAVs
Notice that, of the 3,600 stocks I scan, there are now 373 stocks above their 3 MAVs. last week there were only 190 stocks above all three.
Stocks
KDP: Keuring Dr. Pepper
The stats for KDP are:
When I publicly recommended this stock in David Kosmider's TimingResearch "Lightning Round #1" price was down at 34.94. It is now sitting at 38.61, down a point from last week.
There are lots of Pennant formations on the chart. Those signify lots of sideways action. I trade the Pennants by waiting for a breakout to one side or the other from the red horizontal lines on the top or bottom of the Pennant. So, we are looking for a breakout now.
I, an avid coffee drinker, (I'm having a cup while I write this) believed that this non-alcholic beverage vendor would continue to thrive. Keuring is a great coffeemaker and very popular. They even have one at my hairdresser's.
Price dropped last week and the prior week with the rest of the market, penetrating the Pennant bottom and the 21-day MAV. It is still above the 50- and 200-day MAVs, but now below the 21-day MAV.
AMZN
The stats for AMZN are:
Last Close = +133.27 : the close Friday was at +133.27. Change from last Sunday (+/-) (+127.51) = +5.76 Purple or Gold on top? Purple UOB = +141.45 UIB = +138.17 MidLine = +132.75 MidAngle = -0.86 LIB = +127.33 LOB = +124.05 Above/Below 21-day MAV = 134.42 - Below Above/Below 50-day MAV = 127.64 - Above Above/Below 200-day MAV = 141.30 - Below Color of DMA_H = Green
AMZN, is no longer the stock with the highest PHW. In fact, it ranks way down on the list. Along with the rest of the market it was down sharply week before last and on Friday it penetrated the DMA MidLine!. As I expected last time price slipped on down to the LOB, and once touching it has bounced back upward.
Price is now at 133.14, below its 200- and 21-day MAVs, though still above the 50-day MAV. The LOB lies at 124.05, with the UOB at 141.45. It could easily go either way so I'm entering on stops above the DMA.
TSLA
The stats for TSLA are:
Last Close = +299.68 : the close Friday was at +299.68. Change from last Sunday (+/-) (+270.21) = +29.47 Purple or Gold on top? Purple UOB = +308.46 UIB = +299.62 MidLine = +286.12 MidAngle = 27.59 LIB = +272.61 LOB = +263.77 Above/Below 21-day MAV = 290.77 - Above Above/Below 50-day MAV = 274.58 - Above Above/Below 200-day MAV = 295.37 - Above Color of DMA_H = Green
Cathy Wood's 5-year projection for TSLA (chart below) is still at 4,600 at this juncture; she lowered her projection a few weeks ago. Several other pundits I keep track of are suggesting a much higher price also. And they did a 3:1 split last week. That should be bullish. And now price has been moving once again upward on the week, along with the rest of the market.
Closing Friday at 299.68, TSLA was up nicely on the week, and ahead of the rest of the market. In fact, TSLA is now above all 3 MAVs and is touching the UIB. That leaves it to go on up to the UOB which lies at 308.46. TSLA is down 28% from its all time high, so it has a ways to go before recovery.
VantagePoint is calling for a high of 299.38 tomorrow and a low of 284.50 (an outside bar).
This is still my favorite stock. But, at this point I'm a trader, not an investor yet. TSLA is sitting on top a flat DMA and could thus encounter some congestion this coming week. Last time I said: "... another bounce coming. It will need to penetrate the MidLine first though." And indeed it penetrated the DMA and more.
Seems to me people should be flocking to TSLA with gas prices high still. Thankfully it has dropped to $5.10/gal in San Diego, California.
I still believe we will continue to turn to carbon-neutral technologies and electric vehicles. I have not yet purchased their vehicle because I'm waiting for better batteries. I would want to get to LA and back on one charge before it is viable technology in my mind. When the batteries are better I expect this stock to really take off.
Notice that I think TSLA is still a good buy for lots of fundamental reasons (not the least of which is lower prices and a huge run-up potential.) Nevertheless, TSLA has dropped more that 28% from its high, but is up from its low.
ARKK
The stats for ARKK are:
Last Close = +44.60 : the close Friday was at +44.60. Change from last Sunday (+/-) (+40.59) = +4.01 Purple or Gold on top? Purple UOB = +48.26 UIB = +46.73 MidLine = +44.08 MidAngle = -0.57 LIB = +41.43 LOB = +39.90 Above/Below 21-day MAV = 44.87 - Below Above/Below 50-day MAV = 45.56 - Below Above/Below 200-day MAV = 61.11 - Below Color of DMA_H = Green
Several months ago I said I thought ARKK price would tick on down to the LOB and possibly beyond. It did just that. But, currently she is below all 3 MAVs. ARKK is now up from its low of 35.10 to current price of 44.60. She's recovering, but slowly.
Who's On Top at the bottom of the chart is still Purple, which tells me that we can expect more negativity. But, the DMA MidLine is now Flat and lies at 44.08, just below current price. Last week ARKK wen down to touch the LOB and bounce in the last two days, to get aabove the DMA MidLine. That's positive. Probably where the rest of the market goes ARKK will go.
When you think about your own trading success, take a look at what one of the most notable traders (Cathy Wood) has done.
ARKK added 45,446 shares of DKNG and 59,595 shares of PATH, to her holdings as of Friday's report.
I do think, still, that she over-trades. And bottom fishing is a risky business.
MSFT
Last Close = +264.46 : the close Friday was at +264.46. Change from last Sunday (+/-) (+256.06) = +8.40 Purple or Gold on top? Purple UOB = +281.32 UIB = +276.29 MidLine = +266.98 MidAngle = -20.93 LIB = +257.67 LOB = +252.64 Above/Below 21-day MAV = 273.82 - Below Above/Below 50-day MAV = 270.10 - Below Above/Below 200-day MAV = 288.61 - Below Color of DMA_H = Green
MSFT (closing at 264.46 Friday) is still below all 3 MAVs. That's a negative sign. The market is a wild ride these days. MSFT made progress to the upside, probably leading the market. It also had a gap up day on Friday.
Price is now above the LOB and took a nice bounce. Price is currently below all 3 MAVs and beneath a Flat DMA MidLine. It needs to break above the DMA MidLine at 266.98 before it can continue upward movement.
The long-term trendline now shows that MSFT is down about 24% from its all-time high. This is one of the reasons we are still in a Bear market.
Don't you think you should purchase the SunnyBands and DMA_H for your own? Sure helps Profits! Are you serious about making money trading? Then you can't do without them.
On the Weekly chart MSFT doesn't look so good. With this view price last week didn't recover enough to make bearishness subside. Price on the Weekly only got to the LIB and didn't make it down to the LOB yet. To me that looks like more downside is possible.
Buy the DMA_H and SunnyBands for yourself. They are life savers. I totally rely on them for my own trading. You can have these indicators for yourself. They are a great trading tool! And now I have a new indicator that plots a series of colored dots letting you see at a glance Who's On Top, Purple or Gold. Here's what it looks like. It is the series of Purple and Gold dots at the bottom of the chart.
Please join my Podcast (The Sunny Harris Show! with Sam Tennis). It's a lot of fun getting to know the Gurus from a personal standpoint and hear their predictions for the coming market. I listen to podcasts while I trade.
Oil
The stats for CL are:
Crude Light (CL) on a Daily chart (closing at 86.79 Friday) is down -0.08 points this past week. Barely anything. Since the high in March it has continued to decline, with respect to its trendline.
Last time I said: "Fibonacci Lines suggest it might go on down to $86." And that's right where we are now."
Yet, on the monthly chart we are nearing a Flat DMA MidLine which is likely where it will go. The MidLine sits at 91.46 on the Daily chart. While the Monthly chart looks like we will go further down, the Daily chart looks like we will go upp.
Putin will decide where price is going next. If, and it looks likely, Russia begins to support Kaliningrad to the West of Lithuania and North of Poland we will get into a war with Putin defending Lithuania and Poland, members of the EU. If that happens, crude will be needed to support the war and prices will respond.
BitCoin, Etherium, Gold, Bonds
BitCoin
The stats for BTC are:
Last Close = +21,345.00 : the close Friday was at +21,345.00. Change from last Sunday (+/-) (+19,775.00) = +1,570.00 Purple or Gold on top? Purple UOB = +22,966.27 UIB = +22,040.04 MidLine = +20,536.28 MidAngle = -88.48 LIB = +19,032.51 LOB = +18,106.28 Above/Below 21-day MAV = 21292.38 - Above Above/Below 50-day MAV = 21666.60 - Below Above/Below 200-day MAV = 35115.70 - Below Color of DMA_H = Green
BitCoin is down 49% since its all time high of 70,040 on 11/10/21. That's quite an improvement from last time when it was down 70%.
I'm writing this on Sunday, and in after-hours trading it is up 315 points, at 21.660. The rise is good and signals a rise likely to the UIB or UOB.
Last Time I Said: "Price is below the Flat DMA MidLine, and will probably drop to the LIB at 20,648 and possibly on down to the LOB at 19,685."j It's there right now. Last week it dropped to 18,480 and then recovered to close Friday at 21,345.
Ethereum
The stats for Ethereum are:
Last Close = +1,721.33 : the close Friday was at +1,721.33. Change from last Sunday (+/-) (+1,567.97) = +153.36 Purple or Gold on top? Gold UOB = +1,857.30 UIB = +1,772.35 MidLine = +1,632.48 MidAngle = 67.04 LIB = +1,492.61 LOB = +1,407.66 Above/Below 21-day MAV = 1682.01 - Above Above/Below 50-day MAV = 1560.67 - Above Above/Below 200-day MAV = 2451.41 - Below Color of DMA_H = Gold
I haven't held any BitCoin. Instead, I have had ETHUSD (Ethereum) since its low in May 2021. I'm still holding ETHUSD and intend to hold it for years just to see what happens. Currently it is below my buy-in point. Why not sell? Because I'm in this one for the long-term and expect it to take off at some point. If it doesn't, oh well. It was an interesting experiment.
The chart of ETHUSD "sharply sideways." It is actually up more than BitCoin, but it is not imppressive yet. Nevertheless, price is above the nearly Flat DMA and that's positive. And in fact it is a doji bar in after hours trading and looks like it is right on the UIB. Looks to me like we will make a run for the UOB which lies at 1,857.30.
ETHUSD has been going up while BTC has been going down. It is still outstripping BTC.
Gold
The stats for Gold are:
Last Close = +1,728.60 : the close Friday was at +1,728.60. Change from last Sunday (+/-) (+1,722.60) = +6.00 Purple or Gold on top? Purple UOB = +1,795.63 UIB = +1,776.28 MidLine = +1,746.12 MidAngle = -50.72 LIB = +1,715.96 LOB = +1,696.61 Above/Below 21-day MAV = 1754.63 - Below Above/Below 50-day MAV = 1760.68 - Below Above/Below 200-day MAV = 1856.65 - Below Color of DMA_H = Green
Gold, on the Daily chart, is languishing. Price has meandered along with a slight slope up, but not much. Price is at 1,728.60 from Friday and is below the Purple DMA. Nevertheless, on the DMA_H we have Green showing for the last 3 days. That's positive. Check out Glenn Neely's report on his website to get an idea where he thinks Gold is going. His predictions are very accurate. Spoiler alert, he thinks it is going way down.
The Midline is at 1,746.12 the UIB is at 1,776.28. The MidAngle is negative. Anything could happen with this one, but it looks to me like it could go farther down to me. Looking at the monthly chart, we have been going sideways since August 2020.
I still believe we will hit the 2,000 price again someday and go higher. World strife used to add to the attractiveness of gold. I still think that will be broken to the upside eventually. NOTE: Glenn Neely (of NEoWave Forecasting, and our 4th Podcast) thinks Gold has a lot lower to go. It's a riveting Podcast!
Sept 6, 2022 I will be giving a talk at TimingResearch. You'll hear and see how I use Fibonacci & Elliott with SunnyBands in my trading.
Bonds
The stats for @US are:
Last Close = +132.94 : the close Friday was at +132.94. Change from last Sunday (+/-) (+134.59) = -1.66 Purple or Gold on top? Purple UOB = +140.00 UIB = +138.54 MidLine = +136.08 MidAngle = -15.64 LIB = +133.63 LOB = +132.17 Above/Below 21-day MAV = 136.77 - Below Above/Below 50-day MAV = 138.87 - Below Above/Below 200-day MAV = 146.20 - Below Color of DMA_H = Green
Bonds are down on the week for a loss of -1.66 points.
In after hours trading bonds are up 3/32 of a point.
On the monthly chart bonds are down even more than last time, by 26%. Price bounced last week off the LOB and is now below the LIB, but still above the LOB.
In fact, price is currently sitting right on a strong Attractor from 2017. That could support further downside action.
Bonds go down, yields go up. In fact, the 2-yr / 10-year Treasuries yield curve is now inverted again; that is the yield on the short-term treasuries is less than the yield on the longer-term. Looks like we are expecting even more inflation and higher interest rates, probably by 0.5 - 0.75 points this next time.
If You Got this Free Newsletter from someone else and would like to Opt-In, and join us, click here.
Products
All subscribers to my Sunny Side of the Street newsletter are eligible for an automatic 10% discount on any of my products. Call if you are interested.
Consulting/Mentoring - There is nothing that makes me happier than my students turning into great, profitable traders. I love to help new traders, and intermediate traders who are in a slump.
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. With them I am alerted to Exact Entries and Exits.
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 & 5-min charts of the ES.
Custom Programming - Need help with an idea you want tested with EasyLanguage? I'm the one to do it for you. Fast and inexpensive.
If you aren't already a MoneyMentor Member, please consider joining here. Tell me what you trade and what you'd like to see me add to this newsletter.
Sam Tennis' Products
If you would like to be included in Sam's totally educational "It's the Weekend!" newsletter, shoot him an email and say I sent you. It's a lot of fun.
Real-Time Profit/Loss Viewer
ORDER NOW
Scroll the Chart
SCROLL THE CHART DOCKED
Data Report Pro & SPGC Report Pro
Archives
Vol 6:
Vol 5:
I always welcome comments at sunny@moneymentor.com.
Click to unsubscribe. I'll be sad to see you go, but I will remove you from my subscribers list.
Click here to unsubscribe.
Sunny has been teaching others to trade almost as long as she has been trading. Helping struggling novices over the hurdles is a passion of hers. Sunny has won awards for her teaching and consulting, being #1 in several categories. Sunny can teach you how to use TradeStation & MultiCharts and EasyLanguage and PowerLanguage, TC2000, VantagePoint, NinjaTrader, Genesis Navigator, and MetaStock so you don’t spend months struggling on your own. If you have a concept you want programmed, she can do it for you or teach you how to do it yourself. Click Here.
We provide a wide range of software programmed by Sunny for her own trading. We are not a churn and burn shop that puts out lots of indicators for sale, just to have products to sell.
Each of these unique products is available to help others in their quest for profits. And, they are used by Sunny in her own daily trading. The software includes indicators that make trading smooth and easy, and strategies that can even be automated to provide hands-off trading. Click here for a full list, descriptions, charts and prices.
