Sunny Side of the Street 

Sunday January 01, 2023  VOLUME 7 ISSUE 01 (Happy New Year!)


This SPECIAL issue is the first of 2023 and the last of the Free Subscriptions. If you'd like to get the Sunny Side of the Street Technical Newsletter every Sunday night, SUBSCRIBE HERE.  


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>>FREE Live Demo REPLAY Posted

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If you are new to Sunny Side of the Street you might be unfamiliar with the rules I use to interpret my Indicators.

If that's the case, you can download the Indicator Manual Here.


If you haven't already, Watch the Oct 18 Live Demo Replay Here.  The LIVE DEMO  was Tuesday Oct 18 at 10amPT. Learn how Sunny interprets her indicators. No sales pitches, only Education and Support. Whether you do have or do not yet have SunnyBands, PHW, or DynamicMAV, you will not want to miss this expose'.


Want to try them out? Click Here for a FREE Trial of Sunny's Indicators. I will personally walk you through Installation (Zoom) and explain to you EXACTLY how I use them in my day-to-day trading. I've been trading for 42 years and this is what I use Every Day. I don't hold anything back. The week of your Trial I will have 2 more Zoom calls with you during the Trial to walk you through trading them in the Live Markets.


"You can use SunnyBands for Options on QQQ. When it goes purple I go! It's a sure bet. Price crosses above LOB sometimes, wait for a couple bars within LOB. Catch it on Friday on options expiration sell puts and it's a sure thing! I did it on TSLA too." - Aaron R.

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: Order Form. You won't learn EasyLanguage anywhere else faster.


EasyLanguage Forum 

The defective PayPal button has been fixed. Just click above on Order Form and it will take you there. 

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 fee, they are HERE. This is the best place to learn TradeStation's EasyLanguage.


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 "The Definitive Guide to TradeStation's EasyLanguage & OOEL" It looks like, at this point, it will be about another month or two  before it goes to press. If you want an autographed copy, click here. (Only in US mainland)


And Glenn Neely of NEoWave.com has kindly consented to allowing me to post his Market Forecast for the S&P. It comes out each week on Monday night, and I update this newsletter with the new chart then. Take a look below.


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 with Money Manager and Prognosticator Greg Morris and before that the world famous Linda Bradford RaschkeRobert Colby, and a historical visit with Larry Williams who is the master of commodity and futures trading as well as the prolific author of 11 books. Get to know him personally! The podcast is not to miss. Before that were legends Wally Olopade, Price Headley, 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 Norman Hallett, Robert Colby , Larry Pesavento, Linda Bradford Raschke, Ted Hearne and Carolyn BorodenI 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. View the Latest: "Receiving & Installing Sunny's Software" on YouTube now.


QUICKLINKS: VantagePoint | Last Week I said | Dow | ESSunnyBands Implications | Trading Room | Automated Strategy | Multiple Timeframes | Stocks | OilBitCoin & Etherium | Gold | Bonds | Diatribe | DEFINITIONS| Quips & Quotes


VantagePoint ai Prediction for Tomorrow

To the chart I have added the MACD 

To the chart I have added the MACD indicator at the bottom.  

My read of this chart tells me that All Three of the Moving Averages (MAVs) are confused. All three MAVs are pushing sideways with the Neural Index (the red, green and yellow ribbon midchart) showing Yellow--Caution. The medium term MAV is slightly above the Zero-line, but the other two are slightly below the Zero-line. The MACD is also sideways, poised to move up but not doing so yet. A move up will cause it to cross, but a move down will once again  put it in negative territory.    

The prediction for Tuesday calls for more sideways action with a high of 33,323 and the low of 32,931.

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. The chart in today's SSS is a monthly one so you can see longer term predictions. Click on the link to visit his website

Notice that he called for this down move followed by an up move over 6 weeks ago, which happened and now he thinks we will continue upward in a correction as much as half way up between recent highs and recent lows.

Here is the Monthly NEoWave projection of the S&P. He posts it on Monday afternoons, so it will be updated then.

http://www.neowave.com

SunnyBands Implications

Dow Jones 

The stats for the Dow are:

Last Close = +33,147.25 : the close Friday was at +33,147.25.
Change from last Sunday (+/-) (+33,203.93) = -56.68
Purple or Gold on top? Purple
UOB = +34,375.50
UIB = +34,000.19
MidLine = +33,412.30
MidAngle = -69.25
LIB = +32,824.41
LOB = +32,449.10
Above/Below  21-day MAV = 33482.26 - Below
Above/Below  50-day MAV = 33182.48 - Below
Above/Below 200-day MAV = 32448.93 - Above
Color of DMA_H = Purple
All Time High = +36,952.65 Percent = -10.30%

The Dow is moving  "sharply sideways." We haven't made any real progress in either direction for the last 10 trading days.  In the last issue of SSS it showed that the Dow had broken a long-term Trendline and now price is above the Trendline. BUT, the DMA (Dynamic Moving Average) is Flat (horizontal) which often portends more sideways price action.

To me a Flat DMA is a "do nothing" indication: neither up nor down.

Since the January '22 all-time high at 36,952 we have had up-moves (Bear Rallys) 4 times. Each time the public thought "oh yay, the bear market has ended." And, of course, that brought in buyers who pumped it higher, only to get fooled by resuming down moves. Who knows this time; maybe the downdraft is over, and maybe not. Larry Williams has put out his new 2023 Forecast, if you'd like to know where he thinks we are going next:  www.ireallytrade.com and look under Reports to get yours.  

The strong Attractor overhead at 34,237 was broken on 12/2/22 and appeared bullish. However, it has not continued bullishness but rather has moved down from the Attractor and is currently sitting over 1,000 points below that level.

Keep in mind that markets never go straight up or straight down. We always move in fits and starts.  

The Podcasts of Greg Morris, Linda Bradford Raschke, Anka Metcalf and Robert Colby are now posted, Enjoy these great interviews. Larry Pesavento coming Next!

We are currently below the 21-day Moving Average (MAV) and yet somewhat above the 200-day MAV. It wouldn't take much of a down move to negate that and be below all 3 again.

I am expecting some buying this coming week as we finish  off the "window dressing" where fund managers position themselves for the coming months.  

Price, the TrendLine and the MAVs are all in conjunction, awaiting more information. Will Tuesday bring more bulls, or more bears?

The DMA_Histogram has been showing Red & then Purple for weeks and has ducked under the zero-line, turning Purple. That's Bearish in my book. Personally, my guess is the Dow will make its way down toward 31,500.

S&P 500

The stats for ES are:

Last Close = +3,861.00 : the close Friday was at +3,861.00.
Change from last Sunday (+/-) (+3,869.75) = -8.75
Purple or Gold on top? Purple
UOB = +4,064.06
UIB = +4,006.53
MidLine = +3,917.47
MidAngle = -57.75
LIB = +3,828.41
LOB = +3,770.88
Above/Below  21-day MAV = 3942.61 - Below
Above/Below  50-day MAV = 3941.11 - Below
Above/Below 200-day MAV = 4050.90 - Below
Color of DMA_H = Green
All Time High = +4,849.50 Percent = -20.38%

We are not recovering in the S&P 500 as well as in the Dow 30 Industrials. As a broader index the S&P has more volatile stocks in it. We are only down 10% on the Dow and yet are 20% down on the S&P. The NASDAQ, on the other hand, is down 35%, showing the weakness in tech stocks.

The DMA_H, on the Weekly chart, has been Green for the last 11 weeks but not making upward progress. The ES itself is below the Flat DMA with Purple on top. 

To me that's Bearish.

The ES is not faring as well as the Dow, failing to break above the down-sloping trendline evident on the Dow. 

It looks to me like the ES is heading down to the Attractor that lies at 3,660. Current price is 3,868, so that about 200 points on the downside if I'm right.

REPORTS THIS WEEK:  

Quips & Quotes

Here are a few quotes from my users these past weeks:

"I made $5,772 on the first day of my free trial of SunnyBands. It told me exactly where the turns were, even with the high volatility today. You are one of the very few people that allows test drives. It's nothing short of amazing!" -Aaron R.

"I want you to know that you’re truly an amazing person and how grateful we are to have you as a mentor/teacher. We Love You." - TJ N.

"Nice Bands! This morning I did a couple of quick MES buys and sells. Then I bought into an upward moving ES [signaled by the DMA_H]. Followed it to the top [SunnyBand]. Closed. Sold short at the top [SunnyBand.] Followed it to the bottom [SunnyBand]. A $4,000 account (what I had moved to the Futures account) returned about $2,000. Doesn’t get any better than that!". - Don M.


DMA_Histogram in Various TimeFrames

Here we have several different time frames on the ES Continuous Contract. This is a view of the RadarScreen with the DMA_Histogram showing the Direction of the DMA and what color it is.

When the DMA_Histogram turns Gold it means that the Gold DMA is on top. When it turns Purple it means that the Purple DMA is on top. 

While Purple is on top and the DMA_H is below the zero-line it turns Green to highlight change of trend and the possibility of a Bullish movement.

While Gold is on top and the DMA_H is above the zero-line it turns Red to highlight change of trend and the possibility of a Bearish movement.

Note, I always wait for Price Action to confirm the move before taking a position. 

This configuration tells me that these timeframes are Turning Up. The 1-min, Daily and Weekly are "Bearish turnin up" while the 15-min is Bullish. Nevertheless, the Monthly is staying strongly Bearish.


RadarScreen of Stocks

Here again, back by popular demand, is my RadarScreen of Stocks:

I sorted on the PHW this time to see which symbols produce the most potential profit. Notice that the report  is very mixed. We have lots of Gold, Red and Green, and Purple. So, it's showing that these stocks are largely mixed but the Red ones are showing that while still bulish, are turning down. The symbols that are Green show that they have been Bearish but are now Turning up. These are the ones I am watching for trading.  


Stock Scan for those Above all 3 MAVs

Notice that, of the 3,600 stocks I scan, there are now 354 stocks above their 3 MAVs. Last time there were 286 stocks above all three. This is a bit of a Bullish sign.


Stocks

KDP: Keuring Dr. Pepper

The stats for KDP are:

Last Close = +35.66 : the close Friday was at +35.66.
Change from last Sunday (+/-) (+35.66) = 0.00
Purple or Gold on top? Gold
UOB = +40.55
UIB = +39.25
MidLine = +37.22
MidAngle = -3.43
LIB = +35.18
LOB = +33.88
Above/Below  21-day MAV = 37.63 - Below
Above/Below  50-day MAV = 37.29 - Below
Above/Below 200-day MAV = 32.32 - Above
Color of DMA_H = Red
All Time High = +41.31 Percent = -13.68%

When I publicly recommended this stock in David Kosmider's TimingResearch "Lightning Round #1" price was down at 34.94. It is now back to 35.55, which is a decline, but still profitable. Still profitable at just about $0.61 per share. I'm not giving up my coffee.  

The chart shows lots of gyrations as it moves along it path.  The DMA is Flat and price is beneath it. This week's candle touched the LIB (Lower Inner Band) and may bounce from there. Of course, the other case is that it could go on down to the LOB (Lower Outer Band). On the Daily chart it is already there and the DMA is sloping downward. 

Price is under both short term MAVs and still above the 200-day MAV. This MAV lies below at 32.32, which is still a ways down.

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. 


SBUX: Starbucks

The stats for SBUX are:

Now let's consider this coffee company: SBUX.

Last Close = +99.20 : the close Friday was at +99.20.
Change from last Sunday (+/-) (+99.20) = 0.00
Purple or Gold on top? Gold
UOB = +105.35
UIB = +100.76
MidLine = +92.84
MidAngle = 18.26
LIB = +84.91
LOB = +80.32
Above/Below  21-day MAV = 91.89 - Above
Above/Below  50-day MAV = 87.04 - Above
Above/Below 200-day MAV = 92.19 - Above
Color of DMA_H = Red
All Time High = +126.32 Percent = -21.47%

Though down a bit on the week, the slow and steady progress of SBUX has been upward.

Watch out, though, there is a Strong Attractor at 90.00 that could be broken to the downside. 


HUM

HUM is up (+10.43 points) this week after making a new all-time high only weeks ago with price currently at 513.96.

The stats for HUM are: 

Last Close = +512.19 : the close Friday was at +512.19.
Change from last Sunday (+/-) (+512.19) = 0.00
Purple or Gold on top? Gold
UOB = +561.98
UIB = +540.25
MidLine = +504.18
MidAngle = 5.99
LIB = +468.10
LOB = +446.37
Above/Below  21-day MAV = 511.83 - Above
Above/Below  50-day MAV = 473.15 - Above
Above/Below 200-day MAV = 395.80 - Above
Color of DMA_H = Red
All Time High = +571.30 Percent = -10.35%

HUM is down this week by -1.77 points on the Daily chart. It is now seriously bouncing off the Lower Outer SunnyBands (LOB) and heading for the Flat DMA. With it Flat I only expect price to rise to the DMA at about 504.18. At that point it is likely to bounce around before deciding whether it will go up  or down from there. 

Nevertheless, HUM continues to perform well overall.

The DMA_H turned Purple on 12/09/22 after being weakly Green. It then turned Green again on 12/21/22 (a Buy signal if confirmed by Price Action, and it was) and has been moving up from the LOB.


AMZN

The stats for AMZN are: 

Last Close = +84.00 : the close Friday was at +84.00.
Change from last Sunday (+/-) (+84.00) = 0.00
Purple or Gold on top? Purple
UOB = +124.99
UIB = +117.96
MidLine = +105.78
MidAngle = -66.52
LIB = +93.61
LOB = +86.58
Above/Below  21-day MAV = 108.93 - Below
Above/Below  50-day MAV = 123.78 - Below
Above/Below 200-day MAV = 130.94 - Below
Color of DMA_H = Purple
All Time High = +188.65 Percent = -55.47%

AMZN is below all 3 MAVs.

Down, down, down. This chart looks "puny" as they say where I'm from. AMZN is down on the week by -1.25 points which isn't so bad in and of itself, but it's the continuation that is disturbing. AMZN is down over 55% from its all-time high.

Price is below the LOB and not showing any signs yet of bouncing. Purple has been on top for months and doesn't show any signs of turning up either. 


TSLA

The stats for TSLA on a Weekly Chart are: 

Last Close = +123.18 : the close Friday was at +123.18.
Change from last Sunday (+/-) (+123.18) = -0.03
Purple or Gold on top? Purple
UOB = +263.81
UIB = +242.94
MidLine = +202.43
MidAngle = -85.46
LIB = +161.91
LOB = +141.04
Above/Below  21-day MAV = 224.12 - Below
Above/Below  50-day MAV = 256.36 - Below
Above/Below 200-day MAV = 164.86 - Below
Color of DMA_H = Purple
All Time High = +414.50 Percent = -70.28%

Cathy Wood's 5-year projection for TSLA (chart below) is still at 4,600 which would translate to 1,500 post split; she lowered her projection a few months ago. Several other pundits I keep track of are suggesting a much higher price also. The split should have been bullish but remember that we may still be in a Bear market. 

It's currently downover 70% from its all time high. On last time's chart TSLA formed a Double-Bottom which did not hold. Price dropped soundly on news that Elon Musk is micro-managing TWTR and he sold $4b worth of TSLA stock to cover expenses.

The SunnyBands Sell signal was on 9/21/22 at 300.80. That makes a potential short trade profit of $177 per share. The DMA_H is now showing Green for the past 3 trading days, which (if followed by price action) is Bullish. And Price Action did confirm the signal.

Last week I said: "I'm thinking 115 might be a good place to buy some shares again. I'll wait for the DMA_H and DMA to confirm first, though." And confirm they did. Price got as low as 108.76 and as it went back up through 115 that was a buy signal.

This is still my favorite stock. But, at this point I'm a trader, not an investor yet. Not unless and until it passes and holds above the Flat DMA.

Seems to me people should be flocking to TSLA with gas prices high still. It is now down to $4.20/gal in my neighborhood.

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 over 70% from its high and is now continuing to make new lows. Maybe. First Elon needs to re-focus on TSLA and leave Twitter to someone else's management.


ARKK

The stats for ARKK are: 

Last Close = +31.24 : the close Friday was at +31.24.
Change from last Sunday (+/-) (+31.24) = +0.27
Purple or Gold on top? Purple
UOB = +49.28
UIB = +45.77
MidLine = +40.36
MidAngle = -37.69
LIB = +34.96
LOB = +31.45
Above/Below  21-day MAV = 38.36 - Below
Above/Below  50-day MAV = 47.50 - Below
Above/Below 200-day MAV = 74.05 - Below
Color of DMA_H = Purple
All Time High = +159.70 Percent = -80.44%

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 of the MAVs and is still sitting below the LOB, probably with more to go on the downside.

Who's On Top at the bottom of the chart is still solid Purple, and it has been Purple/Light Purple for a long time. However, this week the DMA_H turned Green as her price moved up along with TSLA's price (her largest holding).

When the DMA MidLine is Flat I watch closely for Price to tell me the next direction. Don't jump the Flat DMA.

When you think about your own trading successes (or lack thereof), take a look at what one of the most notable traders (Cathy Wood) has done. Don't feel bad. It happens to the best of us.

ARKK sold 1,915,846 shares of FATE on Friday and 221,748 shares of TSLA in her holdings as of Friday's report.

I do think, still, that she over-trades. And bottom fishing is a risky business!

Tonight's chart is on a Weekly timeframe. You'll note that the is now breaching the previous lows and needs to best that to keep face. Otherwise she's losing eveything she gained over the last 2 years.  


MSFT

Last Close = +239.82 : the close Friday was at +239.82.
Change from last Sunday (+/-) (+239.82) = +1.09
Purple or Gold on top? Purple
UOB = +291.48
UIB = +279.28
MidLine = +258.11
MidAngle = -28.26
LIB = +236.94
LOB = +224.74
Above/Below  21-day MAV = 247.81 - Below
Above/Below  50-day MAV = 266.28 - Below
Above/Below 200-day MAV = 222.05 - Above
Color of DMA_H = Green
All Time High = +349.67 Percent = -31.42%

MSFT (closing at 239.82 Friday, up +1.09 on the week) is below the two fast MAVs and above the 200-day MAV . The DMA MidLine (at 258.11) is now moving horizontally (Flat), with Gold on top on the Daily chart, which tells me price is above the LIB and likely heading for the MidLine at 258.11.  That's a potential of 18-19 points to the upside.

Generally when price moves above the LIB it will continue on up to the MidLine and try to break through it. Whether or not it will depends on the showing in the rest of the market as we enter this first week of the New Year and see what kind of Window Dressing activity happens. Watch carefully tomorrow.

The DMA_H signalled a Buy on 11/04/22 at 221, if and only if it is confirmed by Price Action, which it was confirmed on 11/04/22 at 221.39. Price continued upward to 12/01/22 at 254.69 where it signaled a sell. That is a potential profit of $33 per share.

Now it is below the two short-term MAVs and is trying to move upward. We never really know, but we keep our eyes on the bouncing ball (SM_CurrentPrice). I always wait for price action to confirm.

MSFT has been in a Sell signal on the DMA_H since 12/15/22 on the Daily chart.

The long-term trendline now shows that MSFT is down -31.42% from its all-time high. This is one of the reasons we are still in a Bear market.

The NASDAQ (where the tech stocks live) is also down -35% since January. Now that's a Bear Market to me. Reminds me of 2000-2002 when it was down -78%. We shall see...


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? You're leaving money on the table if you aren't trading with SunnyBands.


"Nice Bands! This morning I did a couple of quick MES buys and sells. Then I bought into an upward moving ES [signaled by the DMA_H]. Followed it to the top [SunnyBand]. Closed. Sold short at the top [SunnyBand.] Followed it to the bottom [SunnyBand]. A $4,000 account (what I had moved to the Futures account) returned about $2,000. Doesn’t get any better than that!". - Don M.


"This is INSANE! I'm up over $11,000 in four days. Even 1/10th of these results & I'm speechless!" [Using SunnyBands  during a Free Trial]. - Brian K.


Buy the DMA_H and SunnyBands for yourself. They are life savers. I totally rely on them for my own trading. And I want you to have the success you deserve! 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.

Send me a note telling me what stock you would like to see analyzed next week. If you are reading this I would like some suggestions! Click here to leave me a Comment.

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. The most recent Podcast is with Anka Metcalf of TradeOutLoud.


Oil

The stats for CL are: 

Last Close = +80.26 : the close Friday was at +80.26.
Change from last Sunday (+/-) (+80.26) = +0.70
Purple or Gold on top? Purple
UOB = +104.81
UIB = +98.06
MidLine = +86.60
MidAngle = -6.56
LIB = +75.14
LOB = +68.39
Above/Below  21-day MAV = 83.20 - Below
Above/Below  50-day MAV = 89.35 - Below
Above/Below 200-day MAV = 53.74 - Above
Color of DMA_H = Green
All Time High = +121.21 Percent = -33.78%

Crude Light (CL) on a Daily chart (closing at +79.56 Friday) was up +0.70 on the week and now gas at my pump is down a bit to $4.40/gal.

And now Biden has opened Venezuela for Chevron to pump oil after their president allocated $30m to humanity efforts. And yet we are again filling  up our reserves which is likely to bring prices back up.

The DMA Histogram signalled Bullish on 12/12/22 at 73.12. It is currently at 80.51, for a potential of +7.39 points per contract so far.

On the weekly chart we are in a tight congestion pattern moving on upward since 6/17/22. Price is well below the DMA MidLine and continuing on down since the high on 3/11/22.

CL is above the Flat DMA and profitable by +6.23 points since the DMA_H buy signal on 12/12/22.

There is a strong Attractor at 69.00.

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 = +16,535 : the close Friday was at +16,535.
Change from last Sunday (+/-) (+16,535) = -70
Purple or Gold on top? Purple
UOB = +23,757
UIB = +22,275
MidLine = +19,711
MidAngle = -89.76
LIB = +17,148
LOB = +15,665
Above/Below  21-day MAV = 18405.00 - Below
Above/Below  50-day MAV = 26647.40 - Below
Above/Below 200-day MAV = 26267.83 - Below
Color of DMA_H = Green
All Time High = +69,335 Percent = -76.15%

BitCoin is about as Sideways as I've ever seen a chart. Doesn't really matter what timeframe you look at. Nobody's home.

Last week I said: "There is a horizontal line on the Monthly Chart. Coming from the lows of 2020 this line should hold or it looks like we are in for a further collapse of BitCoin. The line is at 16,508. Watch that area carefully." And guess where BTC is today: 16,520! That's about as accurate as it gets. I still expect a bit more action on the downside.

Purple is still on top on the daily chart of the DMA with the Histogram showing Purple for the last week or so after showing Green off and on for a few days.

It is struggling while deciding where to go next.

In our Podcast interview with Ted Hearne last month, he pointed out that the stock market is going down and Bitcoin is going sideways. He believes that shows strength in BitCoin.

There are 4 interlocking Pennant formations on the Daily chart, showing extreme congestion. I've never seen that before. There's nowhere to go but to burst out in one direction or the other. Price is sitting on the LOB with Purple on top and both Outer bands curving inward. Something is about to happen soon.


Ethereum

The stats for Ethereum are: 

Symbol "ETHUSD", Bar Type = Daily
Last Close = +1,197.79 : the close Friday was at +1,197.79.
Change from last Sunday (+/-) (+1,197.79) = -2.71
Purple or Gold on top? Purple
UOB = +1,965.55
UIB = +1,826.16
MidLine = +1,550.87
MidAngle = -86.94
LIB = +1,275.57
LOB = +1,136.18
Above/Below  21-day MAV = 1405.81 - Below
Above/Below  50-day MAV = 1910.15 - Below
Above/Below 200-day MAV = 1358.52 - Below
Color of DMA_H = Green
All Time High = +4,867.81 Percent = -75.39%

As you know, 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 is now moving somewhat upward. It too is in a tight congestion pattern with 3 consecutive Pennant Formations, one within the other. Price can only continue to squeeze to zero for just so long before it bursts out--one direction or the other.

Like BTC ETHUSD is reacting to the news of FTX's collapse. What happens to bank stocks after a big heist? Same thing. But then they bounce back.


Gold

The stats for Gold are: 

Last Close = +1,826.2 : the close Friday was at +1,826.2.
Change from last Sunday (+/-) (+1,826.2) = +3.9
Purple or Gold on top? Gold
UOB = +1,885.8
UIB = +1,840.8
MidLine = +1,771.8
MidAngle = 69.40
LIB = +1,702.7
LOB = +1,657.8
Above/Below  21-day MAV = 1747.23 - Above
Above/Below  50-day MAV = 1833.72 - Below
Above/Below 200-day MAV = 1787.45 - Above
Color of DMA_H = Green
All Time High = +2,157.3 Percent = -15.35%

Gold. Gold is up since the Buy signal 10/21/22 and is up 159 points since the signal. That is to say, it has been recovering nicely.  Probably since the collapse of Cryptos.

The DMA is still Gold on Top. The Buy signal came on 10/21/22 at 1630.60 and price is now 1830, for a potential long trade profit of $159 per contract. It pays to trade with SunnyBands and the DMA_H.

Price is above the DMA with Gold on Top. The DMA is heading upward which makes me think price will head on  upward to the UOB which currently lies at 1834.

Gold is currently in a Bullish Golden Cross pattern, with the short-term MAV (21-day) moving above the 50-day MAV. See Glossary for details.


Bonds

The stats for @US are: 

Last Close = +125.34375 : the close Friday was at +125.34375.
Change from last Sunday (+/-) (+125.34375) = -1.81250.
Purple or Gold on top? Purple
UOB = +136.30306
UIB = +133.10583
MidLine = +127.81000
MidAngle = -4.00
LIB = +122.51417
LOB = +119.31694
Above/Below  21-day MAV = 128.39 - Below
Above/Below  50-day MAV = 137.35 - Below
Above/Below 200-day MAV = 152.56 - Below
Color of DMA_H = Green
All Time High = +183.43750 Percent = -31.67%

Bonds are down on the week by -1.81250 points.

On the monthly chart bonds are in a clear downward progression since 4/30/20. And headed lower. Bonds go lower, interest rates go higher.

In fact, price is right above the 200-period MAV and bouncing slightly upward this past month. That could support further relief from ever-increasing interest rates.

Bonds go down, yields go up. Bonds go up, yields go down. 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 another 0.50-0.75 points this next time.


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