Sunday January 15, 2023 VOLUME 7 ISSUE 03
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. Click HERE to join us.
>>FREE Live Demo REPLAY Posted. Learn how I use SunnyBands to trade.
>>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)
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 Raschke, Robert 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 Boroden. 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.
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
VantagePoint ai Prediction for Tomorrow
Click Here to attend a Free informative class.
To this VP chart I have added the MACD indicator at the bottom. At the moment the MACD is in "buy" configuration.
My read of this chart tells me that All Three of the Moving Averages (MAVs) are above the Zero-line and while the longer two MAVs are heading upward, the short-term MAV is sideways to slightly down
The prediction for Monday calls for a high of 34,554 and a low of 34,029.
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:
The Dow is up +483.36 on the week, having been up four days straight this week. Price is now well above the formerly Flat DMA (Dynamic Moving Average) which is now sloping upward. We are only "moments" from touching the UOB (Upper Outer Band) and is only 200 points from touching the Strong Attractor which lies at 34,575. See the chart above.
And that's just what it did!
In the afterhours market the YM is up 25 points, to 34,445.
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. However, the 21-day and 50-day are now in a Death Cross! See my Glossary for the definition.
The Purple and Gold lines of the DMA are very close together, resulting in a very narrow Histogram reading. Gold is now on top, but only slightly.
The DMA_Histogram was 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. It was confirmed by price moving on up on Monday and that's a confirmed Bullish signal for the week.
As for the week ahead, I'm guessing price will complete the move to the UOB and touch, if not break, the overhead Attractor at 34,575.
S&P 500
The stats for ES are:
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 7% on the Dow and yet are 17% down on the S&P. The NASDAQ, on the other hand, is down 32%, showing the weakness in tech stocks.
The DMA_H, on the Weekly chart of ES, has been Green for the last 13 weeks but not making upward progress. The ES itself is touching the Flat DMA (Weekly) with Purple on top, where it has been for all of 2022.
To me that's still Bearish. The only thing that will change my mind on the ES is for price to break above the Weekly DMA and head for the UIB.
Last week I said: "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." And it has touched that Flat DMA as of Friday.
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.
Earnings Reports start this week with some important stocks reporting: TSLA, AMZN to name a couple I'm watching. Negative reports could easily affect the overall markets.
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, not yet turning up.
RadarScreen of Stocks
Here again, back by popular demand, is my RadarScreen of Stocks:
I sorted on the BH column this time to see which symbols yield the best Buy and Hold profits. 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 1094 stocks above their 3 MAVs. Last time there were 667 stocks above all three. This is a Bullish sign.
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 back to 35.47, which is a decline, but still profitable by just under a point. Still profitable at just about $0.53 per share. I'm not giving up my coffee.
On the Weekly chart its progress is pretty much sideways. It is nearing an Attractor at 34.93 which may or may not hold any further downward progress. The exit signal (SunnyBands) came on 8/26/22 as price dropped below the UOB. That was at a price of 38.62 for a profit of $3.68 per share. I'm waiting for further buy signals from SunnyBands.
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. 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.
The stats for SBUX are:
Now let's consider this coffee company: SBUX.
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 107.23 showing a potential profit of just above 14 points per share since the signal.
There is a strong Attractor overhead at 109.64 and another above that at 125.61. I feel confident that price will reach for the first Attractor, but only a strong overall market will push price throught the upper Attractor.
HUM
HUM is down (-1.18 points) this week after making a new all-time high only 2 months ago with price currently at 491.36.
The stats for HUM are:
Last Close = +491.36 : the close Friday was at +491.36. Change from last Sunday (+/-) (+492.54) = -1.18 Purple or Gold on top? Purple UOB = +531.54 UIB = +520.49 MidLine = +501.60 MidAngle = -26.22 LIB = +482.71 LOB = +471.66 Above/Below 21-day MAV = 502.13 - Below Above/Below 50-day MAV = 524.15 - Below Above/Below 200-day MAV = 485.60 - Above Color of DMA_H = Green All Time High = +571.30 Percent = -13.99%
HUM is down this week by -1.18 points on the Daily chart. It went to the DMA over a week ago, as anticipated, and after hitting it declined back to the LOB and stayed there for 8 days. The 200-day MAV held downside action from going farther, and on Tuesday it began a bit of upside movement.
Friday's candle wick touched the DMA Gold line--which is Flat and as such could impede further upside action. Keep in mind that Purple is still on top and has been since 11/16/22. Price is below the 21- and 50-day MAVs and while it touched the 200-day MAV it is now above it.
The DMA_H turned Green on Tuesday echoing the SunnyBands Bullish signal, which was confirmed by Price Action.
This is one of those times when I let Price Action tell me what's happening next. For me to be interested in HUM it needs to break above the DMA MidLine which lies at 501.60.
AMZN
The stats for AMZN are:
Last Close = +98.12 : the close Friday was at +98.12. Change from last Sunday (+/-) (+86.08) = +12.04 Purple or Gold on top? Gold UOB = +98.33 UIB = +95.35 MidLine = +90.57 MidAngle = 38.83 LIB = +85.80 LOB = +82.82 Above/Below 21-day MAV = 87.27 - Above Above/Below 50-day MAV = 90.57 - Above Above/Below 200-day MAV = 116.03 - Below Color of DMA_H = Gold All Time High = +188.65 Percent = -47.99%
AMZN is below all 3 MAVs.
AMZN is finally showing some strength. It is up +12.04 on the week and is fast approaching two important Attractors: The Fibonacci retractment 23.6% line and a Strong Attractor that lies at 102.24 eminating from the lows of May/June 2022.
Price is now touching the UOB! Yes, it's low but it's turning up. I'm anticipating another 4 points move upward, at least.
TSLA
The stats for TSLA on a Daily Chart are:
Last Close = +122.40 : the close Friday was at +122.40. Change from last Sunday (+/-) (+113.06) = +9.34 Purple or Gold on top? Purple UOB = +144.88 UIB = +137.31 MidLine = +125.19 MidAngle = -5.28 LIB = +113.07 LOB = +105.50 Above/Below 21-day MAV = 126.58 - Below Above/Below 50-day MAV = 161.07 - Below Above/Below 200-day MAV = 242.51 - Below Color of DMA_H = Green All Time High = +414.50 Percent = -70.47%
Cathie 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. This past week TSLA touched the Flat DMA 3 times without breaking through. Wednesday's earnings report will be telling as TSLA makes the $1.19 per share consensus or doesn't. If it doesn't make the projection we are in for more downside action. If it does make it, who knows? The market might even discount that.
The SunnyBands Sell signal was on 9/21/22 at 300.80. That makes a potential short trade profit of $178 per share. The DMA_H is now showing Green for the past 2 weeks, which (if followed by price action) is Bullish. And Price Action did confirm the signal. However, it's at the DMA which is Flat and could stop upward action so I'm being very careful.
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 great 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 = +35.99 : the close Friday was at +35.99. Change from last Sunday (+/-) (+31.37) = +4.62 Purple or Gold on top? Purple UOB = +36.75 UIB = +35.46 MidLine = +33.47 MidAngle = 13.77 LIB = +31.48 LOB = +30.19 Above/Below 21-day MAV = 32.39 - Above Above/Below 50-day MAV = 34.61 - Above Above/Below 200-day MAV = 42.42 - Below Color of DMA_H = Green All Time High = +159.70 Percent = -77.46%
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 now above the two shorter term MAVs and is fast appproaching the UOB which is at 36.75.
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 three more times this past week. Hundreds of thousands of shares!
SunnyBands gave a Buy signal on 12/29/22 at 31.17. Price is now 35.99 and still has some upward potential as it stretches for the UOB at 36.75.
When you think about your own trading successes (or lack thereof), take a look at what one of the most notable traders (Cathie Wood) has done. Don't feel bad. It happens to the best of us.
I do think, still, that she over-trades. And bottom fishing is a risky business!
Tonight's chart is on a Daily timeframe. It looks like she's finally recovering.
MSFT
Last Close = +239.23 : the close Friday was at +239.23. Change from last Sunday (+/-) (+224.93) = +14.30 Purple or Gold on top? Purple UOB = +251.72 UIB = +246.02 MidLine = +236.99 MidAngle = 3.01 LIB = +227.96 LOB = +222.26 Above/Below 21-day MAV = 237.73 - Above Above/Below 50-day MAV = 239.97 - Below Above/Below 200-day MAV = 257.76 - Below Color of DMA_H = Green All Time High = +349.67 Percent = -31.58%
MSFT (closing at 239.23 Friday, up +14.30 on the week) is below two of the 3 MAVs and yet above the 21-day MAV now. The DMA MidLine (at 236.99) is now moving upward, with Purple still on top on the Daily chart but Turning Up, AND price is now above the Flat DMA MidLine. A Buy signal was given on 1/6/23 and confirmed by Price Action the next day. Price was at 227.12.
Now price is at 239.25 and that's a potential of just over 12 points for a long trade.
The long-term trendline now shows that MSFT is down -31.58% from its all-time high. This is one of the reasons we are still potentially in a Bear market.
It will take some more recovery for the Bull to resume.
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.
"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.
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:
Crude Light (CL) on a Daily chart (closing at +79.86 Friday) was up +6.09 on the week and now gas at my pump is back down a bit to $4.40/gal.
Last week I said: "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." And that's what happened all week, from last week's low of 72.73.
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.
Now we are in a SunnyBands and DMA_H Buy signal from 74.63 on Monday 1/9/23. Price is currently at 79.89 for about 5 points of potential profit.
CL is above the Flat DMA on the Daily chart and heading for the UIB at 80.62. Price is in the middle of a Pennant formation whose top is at 82.67. 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 = +19,550 : the close Friday was at +19,550. Change from last Sunday (+/-) (+16,895) = +2,655 Purple or Gold on top? Gold UOB = +19,132 UIB = +18,659 MidLine = +17,834 MidAngle = 89.84 LIB = +17,008 LOB = +16,535 Above/Below 21-day MAV = 17052.14 - Above Above/Below 50-day MAV = 16832.60 - Above Above/Below 200-day MAV = 23016.30 - Below Color of DMA_H = Gold All Time High = +69,335 Percent = -71.80%
BitCoin is in the middle of a little rally. Thursday price jumped up 1,540 points and today it opened in the afterhours session with a gap, putting it up 7% at 20,930.
Gold is now clearly on top following last week's DMA_H buy signal at 16,860 and price is well above the UOB!
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.
Last week I said: "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." And Happen it DID!
There is a Strong Attractor at 22,215 above current price, and that's where I think we are going.
Ethereum
The stats for Ethereum are:
Symbol "ETHUSD", Bar Type = Daily Last Close = +1,456.58 : the close Friday was at +1,456.58. Change from last Sunday (+/-) (+1,266.25) = +190.33 Purple or Gold on top? Gold UOB = +1,438.98 UIB = +1,399.98 MidLine = +1,334.13 MidAngle = 87.44 LIB = +1,268.28 LOB = +1,229.28 Above/Below 21-day MAV = 1253.81 - Above Above/Below 50-day MAV = 1250.65 - Above Above/Below 200-day MAV = 1604.42 - Below Color of DMA_H = Gold All Time High = +4,867.81 Percent = -70.08%
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.
ETHUSD is strongly up on the week, up +190.33 points, like BTC. In afterhours trading tonight it it up another 95 points.
Last week I said: "Price can only continue to squeeze to zero for just so long before it bursts out--one direction or the other." And pop it did, moving up well since a SunnyBands buy signal on 01/02/23 at 1,210.71. Price is currently at 1,549.65. That's more than 300 points of potential profit since the signal.
The 200-day MAV is just overhead and I'm expecting it will break that in the next day or so.
Gold
The stats for Gold are:
Last Close = +1,921.7 : the close Friday was at +1,921.7. Change from last Sunday (+/-) (+1,869.7) = +52.0 Purple or Gold on top? Gold UOB = +1,907.3 UIB = +1,885.2 MidLine = +1,846.8 MidAngle = 84.44 LIB = +1,808.3 LOB = +1,786.2 Above/Below 21-day MAV = 1838.80 - Above Above/Below 50-day MAV = 1795.57 - Above Above/Below 200-day MAV = 1808.06 - Above Color of DMA_H = Gold All Time High = +2,122.7 Percent = -9.47%
Gold. Gold is up rather strongly since the Buy signal 10/21/22 at 1,671and is up 250 points since the signal. That is to say, it has been recovering nicely.
The DMA is still Gold on Top. And price has stayed nicely above the Gold DMA Line ever since. It pays to trade with SunnyBands and the DMA_H.
There is a Strong Attractor at 1,967 that could put a damper in the sharp rise. I might consider taking profits at that point while waiting to see what happens next. In afterhours trading GC is up $0.20.
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 = +130.00000 : the close Friday was at +130.00000. Change from last Sunday (+/-) (+129.21875) = +0.78125 Purple or Gold on top? Gold UOB = +132.02111 UIB = +130.47667 MidLine = +128.12000 MidAngle = 7.69 LIB = +125.76333 LOB = +124.21889 Above/Below 21-day MAV = 128.35 - Above Above/Below 50-day MAV = 127.08 - Above Above/Below 200-day MAV = 133.16 - Below Color of DMA_H = Gold All Time High = +164.68750 Percent = -21.06%
Bonds are up on the week by +0.78125 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 and now 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 133.16.
With price above the DMA, and straddling the UIB it would appear that the next stop is the UOB and then on to the 200-day MAV.
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.
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.
If you want a yet better price, buy Sunny's indicators by the Bundle. Up to 30% off! This offer is only good until 11/22/22. Don't Miss Out. This offer won't show up again for a long, long time.
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.
Correspondence Course: "Solving the Puzzle." 20 lessons and live sessions with Sunny for each lesson. Learn all you need to get started in trading.
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
2023 Vol 7:
2022 Vol 6:
2021 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.