Sunny Side of the Street

Sunday January 08, 2023   VOLUME 7 ISSUE 02

Please excuse any typos I make in this issue. I'm working with the flu this afternoon. -SJH 


If you are getting this issue for free, please know that the Sunny Side of the Street Technical Newsletter every Sunday night is by subscription only. SUBSCRIBE HERE.


HAPPY HALF HOUR! On February 4th I will be hosting the Next Free Networking Event for all Traders new and old to join in the discussion and "get to know each other" event. Sign Up Here. This Free meeting  of like minds will be held once a month, on the 4th of each month. We all had a great time and shared liberally on the 4th of January. Don't miss it next time.


>>FREE Live Demo REPLAY Posted

>>FREE Trial of Sunny's Most Powerful Indicators. Click Here


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 this VP chart I have added the MACD indicator at the bottom. At the moment it is very hard to read as the indicators are all scrunched up together right at the zero-line, showing a lot of indecision.

My read of this chart tells me that All Three of the Moving Averages (MAVs) are finally heading upward and above the zero-line. Notice also that tomorrow's prediction is for another significant up day.

The prediction for Monday calls for a high of 33,914 and the low of 33,729.

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 6-month view so you can see longer term predictions. Click on the link to visit his website

Notice that he is calling for long-term much higher ES moves.

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 = +33,630.61 : the close Friday was at +33,630.61.
Change from last Sunday (+/-) (+33,147.25) = +483.36
Purple or Gold on top? Purple
UOB = +34,354.10
UIB = +33,982.37
MidLine = +33,399.60
MidAngle = -76.37
LIB = +32,816.83
LOB = +32,445.10
Above/Below  21-day MAV = 33320.28 - Above
Above/Below  50-day MAV = 33346.77 - Above
Above/Below 200-day MAV = 32420.79 - Above
Color of DMA_H = Green
All Time High = +36,952.65 Percent = -8.99%

The Dow is up +483.36 on the week, having been lower and yet recovering over +700 points on Friday. Price is now above the Flat DMA (Dynamic Moving Average) which could likely result in a run up to the UIB (Upper Inner Band of the SunnyBands) this week, or even on up to the UOB (Upper Outer Band).

The UIB lies at 33,982.3, another +350 points upward, while the UOB lies at 34,354.10, another +700 or so points up from the current price.

In the afterhours market the YM is up 41 points.

There is a strong Attractor overhead at 34,341 which should beckon to price but then might repel it. If price breaks that Attractor it's off to the races.

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. I already bought mine.

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 Above all 3 MAVs that I watch: 21-day, 50-day and 200-day. It wouldn't take much of a down move to negate that and be below the two shorter MAVs, but the 200-day MAV lies at 32420.79 so it would need to make a bigger move down to negate this one.

Last week I said: "I am expecting some buying this coming week as we finish off the "window dressing" where fund managers position themselves for the coming months." And that's what happened.

The DMA_Histogram has been showing Red and then Purple for weeks and ducked under the zero-line, turning Purple. However, on Friday the Histogram turned Green, showing a hint of Bullishness. If it is confirmed by price moving on up on Monday that's a confirmed Bullish signal.

S&P 500

The stats for ES are:

Last Close = +3,915.50 : the close Friday was at +3,915.50.
Change from last Sunday (+/-) (+3,861.00) = +54.50
Purple or Gold on top? Purple
UOB = +4,054.30
UIB = +3,997.73
MidLine = +3,909.90
MidAngle = -62.73
LIB = +3,822.08
LOB = +3,765.51
Above/Below  21-day MAV = 3906.20 - Above
Above/Below  50-day MAV = 3942.24 - Below
Above/Below 200-day MAV = 4037.94 - Below
Color of DMA_H = Purple
All Time High = +4,849.50 Percent = -19.26%

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 9% on the Dow and yet are 19% 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 12 weeks but not making upward progress. The ES itself is below the Flat DMA (Weekly) with Purple on top. 

To me that's still 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 up to the nearly Flat DMA on the weekly chart and on the Daily chart it has already just peeked above the Flat DMA.

A Flat DMA is often penetrated slightly followed by a retreating failure. Only time will tell. I'm ready for it to go either direction this week.

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 Daily and Weekly are "Bearish turning up" while the 1-min and 15-min are 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 Bullish. We have lots of Gold, and Green and few Reds and Purples. 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 667 stocks above their 3 MAVs. Last time there were 354 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 36.26, which is a decline, but still profitable by just under a point. Still profitable at just about $0.72 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 all three MAVs on the Daily chart. Unless the overall market tanks I'm thinking KDP will still move above its 200-day MAV. 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%

This week's progress has been nicely upward. In fact, the slow and steady progress of SBUX has been upward since the DMA_H Buy signal on 11/08/22 at 92.75. Price is now 106.69 showing a potential profit of nearly 14 points per share since the signal.


HUM

HUM is down (-19.65 points) this week after making a new all-time high only 2 months ago with price currently at 492.54.

The stats for HUM are: 

Last Close = +492.54 : the close Friday was at +492.54.
Change from last Sunday (+/-) (+512.19) = -19.65
Purple or Gold on top? Purple
UOB = +532.18
UIB = +524.44
MidLine = +509.96
MidAngle = -70.63
LIB = +495.47
LOB = +487.73
Above/Below  21-day MAV = 513.61 - Below
Above/Below  50-day MAV = 530.33 - Below
Above/Below 200-day MAV = 484.28 - Above
Color of DMA_H = Purple
All Time High = +571.30 Percent = -13.79%

HUM is down this week by -19.65 points on the Daily chart. It went to the DMA last week, as anticipated, and after hitting it declined back to the LOB. This is typical action and is likely to spur further downside motion. UNLESS the Attractor which lies aat 485 holds any further downside action. If it holds I expect more upside movement. If it doesn't hold, that will take price below the 200-day MAV and further downside risk.

The DMA_H turned REdrple on 11/01/22 after being weakly Gold. It then turned Green again on 11/23/22 (a Buy signal if confirmed by Price Action, and it was) and had been moving up from the LOB. Now it is touching the LOB and just turned Green again. If confirmed by Price Action again Monday it will be another short-term move up to the DMA which currently lies at 509.96.


AMZN

The stats for AMZN are: 

Last Close = +86.08 : the close Friday was at +86.08.
Change from last Sunday (+/-) (+84.00) = +2.08
Purple or Gold on top? Purple
UOB = +94.23
UIB = +91.98
MidLine = +88.24
MidAngle = -9.65
LIB = +84.50
LOB = +82.25
Above/Below  21-day MAV = 86.57 - Below
Above/Below  50-day MAV = 91.84 - Below
Above/Below 200-day MAV = 117.85 - Below
Color of DMA_H = Green
All Time High = +188.65 Percent = -54.37%

AMZN is below all 3 MAVs.

Down, down, down. This chart looks "puny" as they say where I'm from. AMZN is up on the week by +2.08 points which is good in and of itself, but it's the continuation that is disturbing. AMZN is down over 54% from its all-time high. And it continues its steady progress downward.

Price is just barely above the LOB and not showing any signs yet of bouncing. Price has been between the DMA and the LOB for a long time. Purple has been on top for months and doesn't show any signs of turning up either. 


TSLA

The stats for TSLA on a Daily Chart are: 

Last Close = +113.06 : the close Friday was at +113.06.
Change from last Sunday (+/-) (+123.18) = -10.12
Purple or Gold on top? Purple
UOB = +147.57
UIB = +139.55
MidLine = +126.22
MidAngle = -59.27
LIB = +112.89
LOB = +104.87
Above/Below  21-day MAV = 138.37 - Below
Above/Below  50-day MAV = 171.59 - Below
Above/Below 200-day MAV = 248.16 - Below
Color of DMA_H = Green
All Time High = +414.50 Percent = -72.72%

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 72% 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 $187 per share. The DMA_H is now showing Green for the past week, which (if followed by price action) is Bullish. And Price Action did yet 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 Down Sloping DMA. At this point I'm still a seller.

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 = +31.37 : the close Friday was at +31.37.
Change from last Sunday (+/-) (+31.24) = +0.13
Purple or Gold on top? Purple
UOB = +35.90
UIB = +34.80
MidLine = +32.80
MidAngle = -3.72
LIB = +30.79
LOB = +29.69
Above/Below  21-day MAV = 32.49 - Below
Above/Below  50-day MAV = 34.98 - Below
Above/Below 200-day MAV = 43.24 - Below
Color of DMA_H = Green
All Time High = +159.70 Percent = -80.36%

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, last week the DMA_H turned Green as her price moved up along with TSLA's price (her largest holding).

In fact, she bought more TSLA this past week.

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 bought another 58,044 shares of TSLA on Friday .

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

Tonight's chart is on a Daily 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 = +224.93 : the close Friday was at +224.93.
Change from last Sunday (+/-) (+239.82) = -14.89
Purple or Gold on top? Purple
UOB = +252.14
UIB = +246.72
MidLine = +238.07
MidAngle = -59.61
LIB = +229.43
LOB = +224.01
Above/Below  21-day MAV = 241.40 - Below
Above/Below  50-day MAV = 239.67 - Below
Above/Below 200-day MAV = 259.58 - Below
Color of DMA_H = Purple
All Time High = +349.67 Percent = -35.67%

MSFT (closing at 224.93 Friday, down -14.89 on the week) is below all 3 MAVs now. The DMA MidLine (at 238.07) is now moving downward, with Purple on top on the Daily chart, and also shows me price is below the LOB and likely heading for the strong Attractor at 214.06.  Breaking below that line in the said would be strongly negative.

Generally when price moves below the LOB it continues on downward. The DMA_H has been Red since 12/16/22 and is now Purple. Price has moved down from the signal at 247.34 to current price at 224.90 for a potential short trade profit of 22.44 points per share.

The long-term trendline now shows that MSFT is down -35.67% 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 34.58% 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 Greg Morris of MurphyMorris.


Oil

The stats for CL are: 

Last Close = +73.77 : the close Friday was at +73.77.
Change from last Sunday (+/-) (+80.26) = -6.49
Purple or Gold on top? Purple
UOB = +83.48
UIB = +81.09
MidLine = +77.13
MidAngle = -11.45
LIB = +73.18
LOB = +70.79
Above/Below  21-day MAV = 75.83 - Below
Above/Below  50-day MAV = 80.22 - Below
Above/Below 200-day MAV = 89.90 - Below
Color of DMA_H = Purple
All Time High = +118.24 Percent = -37.61%

Crude Light (CL) on a Daily chart (closing at +79.56 Friday) was down -6.49 on the week and now gas at my pump is back up a bit to $4.80/gal. Weird.

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. The signal ended on 72.84 when the DMA_H became Purple for a potential losing trade of 28 cents.

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

CL is below the Flat DMA on the Daily chart but just barely. Price is in a tight Pennant formation which tells me it is likely to move sideways until it breaks above the top of the Pennant or drops below the bottom of the Pennant, giving us a new direction.

There is a strong Attractor at 69.00. And that's where I think price is going.

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 = +16,895 : the close Friday was at +16,895.
Change from last Sunday (+/-) (+16,535) = +360
Purple or Gold on top? Purple
UOB = +17,711
UIB = +17,440
MidLine = +16,983
MidAngle = -69.54
LIB = +16,525
LOB = +16,255
Above/Below  21-day MAV = 16759.29 - Above
Above/Below  50-day MAV = 16997.50 - Below
Above/Below 200-day MAV = 23704.67 - Below
Color of DMA_H = Purple
All Time High = +69,335 Percent = -75.63%

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 16,325. Watch that area carefully." Today BTC is up in the afterhours market, bouncing off that Attractor though ever so slightly.

Purple is still on top on the daily chart of the DMA with the Histogram showing Green for the last 2 days 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 = +1,266.25 : the close Friday was at +1,266.25.
Change from last Sunday (+/-) (+1,197.79) = +68.46
Purple or Gold on top? Purple
UOB = +1,341.19
UIB = +1,316.40
MidLine = +1,270.59
MidAngle = -14.71
LIB = +1,224.77
LOB = +1,199.98
Above/Below  21-day MAV = 1232.27 - Above
Above/Below  50-day MAV = 1269.83 - Below
Above/Below 200-day MAV = 1653.33 - Below
Color of DMA_H = Green
All Time High = +4,867.81 Percent = -73.99%

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.

ETHUSD is up 38 points this evening in afterhours trading and in fact is now above the Flat DMA. The SunnyBands are so narrow on this chart that "up" isn't very far. The Difference between the Lower and Upper bands is only 145 points. With price above the DMA that leaves about 72 points to the UOB. Not much.


Gold

The stats for Gold are: 

Last Close = +1,869.7 : the close Friday was at +1,869.7.
Change from last Sunday (+/-) (+1,826.2) = +43.5
Purple or Gold on top? Gold
UOB = +1,864.4
UIB = +1,843.4
MidLine = +1,808.8
MidAngle = 75.08
LIB = +1,774.1
LOB = +1,753.1
Above/Below  21-day MAV = 1818.53 - Above
Above/Below  50-day MAV = 1773.38 - Above
Above/Below 200-day MAV = 1810.42 - Above
Color of DMA_H = Gold
All Time High = +2,122.7 Percent = -11.92%

Gold. Gold is up rather strongly since the Buy signal 10/21/22 and is up 210 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 1671 and price is now 1882 in afterhours trading, for a potential long trade profit of $211 per contract. It pays to trade with SunnyBands and the DMA_H.

Price is above the UOB with Gold on Top. The DMA is heading upward which makes me think price will head on  upward pushing the bands upward. The next Attractor to the upside is at 1,967.

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 = +129.21875 : the close Friday was at +129.21875.
Change from last Sunday (+/-) (+125.34375) = +3.87500
Purple or Gold on top? Purple
UOB = +131.10889
UIB = +129.75333
MidLine = +127.65500
MidAngle = 2.58
LIB = +125.55667
LOB = +124.20111
Above/Below  21-day MAV = 128.63 - Above
Above/Below  50-day MAV = 126.22 - Above
Above/Below 200-day MAV = 133.59 - Below
Color of DMA_H = Green
All Time High = +164.68750 Percent = -21.54%

Bonds are up on the week by +3.875 points.

On the monthly chart bonds are in a clear downward progression since 4/30/20, but are now in a Pennant formation and moving above the LIB and heading toward the DMA MidLine.

On the Daily chart price is above the DMA MidLine but not yet up to the UIB. It is above both the 21- and 50-day MAVs and about 4 points below the 200-day MAV which lies at 133.59.

With price above the DMA, I'm guessing it will continue on up to the UOB, or if not, at least to the UIB. See prices in the data above.

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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