Sunday January 29, 2023 VOLUME 7 ISSUE 05
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Last Tuesday's lack of trading success is because of the Outage on the Exchange. They are reversing the trades due to Exchange errors causing huge erroneous trades & whipsaws.
HAPPY HALF HOUR! On Saturday 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. You must be registered to get the invitation and link.
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"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
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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.
Sam is considering offering EasyLanguage Mentoring Sessions. If you are interested, please fill out this little form.
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") in 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.
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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.
My read of this chart tells me that tomorrow is expected to be essentially an outside day. All 3 MAVs are hovering right at the Zero-line, but actually the Long-Term MAV is still (barely) above zero. The Medium-Term MAV is turning upward and barely above the zero-line.
The prediction for Monday calls for a high of 34,131 and a low of 33,817.
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 +602.59 on the week, having been up four days straight this week. Nevertheless the movement is inside of a very sideways channel in SunnyBands with the DMA having been Flat (sideways) since 12/02/22.
We are in a serious Sideways Channel which could play out by moving back and forth from the bottom to the top of the channel and back again (as it has been doing) for quite some time. OR, it coud break out from one side or the other (like TSLA did this past week.)
Taking a look at the Weekly chart now for more information: the DMA is Flat, Gold is on top and Price is above the DMA, touching the UIB (Upper Inner Band). Price has been wavering back and forth above the DMA for 13 weeks now. There is a strong Attractor at 34,575 which has been touched but not broken. I'm expecting price to try again for the Attractor above based on that.
Further, going back to the Daily chart, Price is above all 3 MAVs though it is not much above the 21- and 50-day MAVs. That's another reason I think we will go on up to the Attractor.
In the after-hours market the YM is down 38 points, to 34,002.
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. They 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!
S&P 500
The stats for ES are:
The ES has now pulled ahead of the Dow in gains with price on the Dow not yet making it above the recent high while price on the ES has gone above its recent high. We have moved back upward now so that the ES is now "only" down 15%.
On the Weekly chart we are slowly ticking along sideways with Purple on top and the DMA Flat for 13 weeks. Price is just barely above the DMA, but it has done this previously only to retreat. Nevertheless the DMA_H (Dynamic Moving Average Histogram) is Green tending toward upward movement. There is an Attractor overhead at 4,133 which will likely pull price up to that level. Price is also moving up to a prior Linear Regression Channel boundary which will also likely pull price up to that level.
Earnings Reports continue this week with some important stocks reporting.
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 very mixed with some bullish, some turning down and some turning up. The weekly ES is turning up and the daily is bullish, but the 15-minute is turning down while the monthly is now bullish.
RadarScreen of Stocks
Here again, back by popular demand, is my RadarScreen of Stocks:
Looking at the light green
Looking at the light green (mostly) 3 columns on the left, there are Lots of stocks with price above all 3 MAVs. These are the bullish stocks 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 1257 stocks above their 3 MAVs. Last time there were 1063 stocks above all three. Again another 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. At the time of the Sell Signal price was at 38.62 for a potential profit of 3.68 per share.
It has been in a decline since the sell signal, and is now in a losing position if you held on and didn't take the sell signal. A SunnyBands sell signal was generated on 8/26/22 at 38.62 for a potential profit of 3.45 per share. We are still on that sell signal.
On the Weekly chart its progress is pretty much sideways.
It penetrated the Attractor at 34.93 and is now below all 3 MAVs on the daily chart and is heading for the lower Attractor which lies at 34.03.
The chart shows lots of gyrations as it moves along it path. The DMA is still sloping downward and price is beneath it. This week's candle touched the LOB (Lower Outer Band) and gave a SunnyBands buy signal which was confirmed by price action. With Purple on top it is a tenuous position but may go as high as the DMA MidLine.
The stats for SBUX are:
Now let's consider this coffee company: SBUX (Starbucks).
This week's progress has been slightly downward. Nevertheless, 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 108.85 showing a potential profit of just above 16 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 (-15.61 points) this week after being down for several weeks. We got a SunnyBands sell signal on 11/04/22 which has flipped a couple times but is still profitable. The signal came at a price of 552 and we are now at 481.69 for a potential profit of 70 points per share.
The stats for HUM are:
Symbol "HUM", Bar Type = Daily Last Close = +481.69 : the close Friday was at +481.69. Change from last Sunday (+/-) (+497.30) = -15.61 Purple or Gold on top? Purple UOB = +520.81 UIB = +512.34 MidLine = +498.02 MidAngle = -32.92 LIB = +483.70 LOB = +475.23 Above/Below 21-day MAV = 495.15 - Below Above/Below 50-day MAV = 513.85 - Below Above/Below 200-day MAV = 487.75 - Below Color of DMA_H = Green All Time High = +571.30 Percent = -15.69%
HUM is down again, producing a sizable potential profit on the short trade signaled by SunnyBands.
The signal is still in a short position though the DMA is now Flat. Friday's move was sharply down (-17 points) off the DMA.
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 498.02.
AMZN
The stats for AMZN are:
Symbol "AMZN", Bar Type = Daily Last Close = +102.24 : the close Friday was at +102.24. Change from last Sunday (+/-) (+97.25) = +4.99 Purple or Gold on top? Gold UOB = +101.71 UIB = +99.01 MidLine = +94.31 MidAngle = 37.69 LIB = +89.62 LOB = +86.92 Above/Below 21-day MAV = 91.94 - Above Above/Below 50-day MAV = 91.37 - Above Above/Below 200-day MAV = 113.17 - Below Color of DMA_H = Gold All Time High = +188.65 Percent = -45.80%
AMZN is below all 3 MAVs.
AMZN is finally showing some strength. Last time I said: "it is 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." That's exactly what it did on Friday. It closed at exactly 102.24.
The Fibonacci Attractor is still looming overhead at 104.90. I'm anticipating a move this week (if not Monday) to that level.
THEN there is a Gap that still hasn't been filled that would take it up to 109.77 to fill the gap.
TSLA
The stats for TSLA are:
Symbol "TSLA", Bar Type = Daily Last Close = +177.90 : the close Friday was at +177.90. Change from last Sunday (+/-) (+133.42) = +44.48 Purple or Gold on top? Gold UOB = +164.04 UIB = +155.68 MidLine = +139.96 MidAngle = 79.32 LIB = +124.24 LOB = +115.88 Above/Below 21-day MAV = 128.65 - Above Above/Below 50-day MAV = 151.27 - Above Above/Below 200-day MAV = 232.97 - Below Color of DMA_H = Gold All Time High = +414.50 Percent = -57.08%
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 200-da
The 200-day MAV lies overhead at 232. 97. That's looking like a target to me. In fact, there is also an Attractor that lies at exactly that level too.
The SunnyBands buy signal has generated a potential profit of $64.90 per share.
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. TSLA moved above the Attractors (sharply) and the DMA is sloping sharply upward.
Right now price is sitting right now on an Attractor eminating from the "stall" from 11/09/22 through 12/09/22. A push through that heavy overhead resistance will be dramatically.
Seems to me people should be flocking to TSLA with gas prices high still. It is now back up to $4.80/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.) .
ARKK
The stats for ARKK are:
Symbol "ARKK", Bar Type = Daily Last Close = +40.39 : the close Friday was at +40.39. Change from last Sunday (+/-) (+36.50) = +3.89 Purple or Gold on top? Gold UOB = +39.83 UIB = +38.35 MidLine = +35.86 MidAngle = 24.47 LIB = +33.37 LOB = +31.89 Above/Below 21-day MAV = 34.54 - Above Above/Below 50-day MAV = 34.79 - Above Above/Below 200-day MAV = 41.17 - Below Color of DMA_H = Gold All Time High = +159.70 Percent = -74.71%
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 right at the 200-day MAV! Recovery is possible.
A SunnyBands buy signal was generated on 12/29/22 at 31.17 and confirmed by price action. Price is now at 40.33 for a potential profit of $9.16 per share.
Who's On Top at the bottom of the chart is still Gold, after being Purple/Light Purple for a LONG time. On 12/29/22 the DMA_H turned Green as her price moved up along with TSLA's price (her largest holding) from a price of 31.17 to the current 40.33. The DMA_H is Gold, still confirming the buy signal in December.
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. And so can recovery.
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 nicely.
MSFT
Symbol "MSFT", Bar Type = Weekly Last Close = +248.16 : the close Friday was at +248.16. Change from last Sunday (+/-) (+240.22) = +7.94 Purple or Gold on top? Purple UOB = +290.01 UIB = +277.33 MidLine = +255.47 MidAngle = -7.41 LIB = +233.62 LOB = +220.94 Above/Below 21-day MAV = 240.68 - Above Above/Below 50-day MAV = 261.23 - Below Above/Below 200-day MAV = 224.50 - Above Color of DMA_H = Green All Time High = +349.67 Percent = -29.03%
MSFT (closing at 248.16 Friday, up +7.94 on the week) is below the 50-period MAV and yet above the 21- and 200-period MAVs. The DMA MidLine (at 255.47) is now moving sideways, with Purple still on top on the Daily chart but Turning Up since Green is showing on the DMA_H, AND price is now nearing 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 248.16 and that's a potential of just over 18 points per share for a long trade.
The long-term trendline now shows that MSFT is down "only" -29% from its all-time high. This is one of the reasons we are still potentially in a Bear market. We will see what happens on Wednesday's FOMC meeting announcement.
Since the DMA is Flat and price is currently right below it price could go either way. The upside potential is to the UOB at 290.01 and the downside potential is to the LOB at 220.94.
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 +81.64 Friday) was up +1.51 on the week and now gas at my pump is back up a bit to $4.80/gal.
Last month 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 month'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 8.60 points per contract. And then it was re-signaled on 01/06/23 at 74.04 and is now at 79.68 for a potential profit of 5.64 points.
CL is above the Flat DMA on the Daily chart and below the UIB and UOB. Price is again in a tight Pennant formation out of which it has to break to continue on upward.
There is an important Attractor at 85.77, above current price. The definition of an uptrend is higher highs and higher lows, and that's been happening since 01/09/23.
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, with NATO 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:
Symbol "@BTC", Bar Type = Daily Last Close = +23,320 : the close Friday was at +23,320. Change from last Sunday (+/-) (+22,555) = +765 Purple or Gold on top? Gold UOB = +24,298 UIB = +23,430 MidLine = +21,979 MidAngle = 89.81 LIB = +20,529 LOB = +19,660 Above/Below 21-day MAV = 19632.62 - Above Above/Below 50-day MAV = 17888.00 - Above Above/Below 200-day MAV = 22363.10 - Above Color of DMA_H = Red All Time High = +69,500 Percent = -66.45%
BitCoin is in the middle of a bit of a rally. This week price has continued on up to exceed the 200-day MAV and beyond from the SunnyBands buy signal on 12/22/22 at 16,560.
Price is now, in the after-hours market, at 23,885 (up 565 points) for a potential profit since the signal of 7,325.
Gold is now clearly on top following the buy signal at 16,560 and yet price is now under the UOB and right on the UIB.
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!
Last time I said: "There is a Strong Attractor at 22,215 above current price, and that's where I think we are going." And we did! And beyond. The next overhead Attractor is at 26,669.
Ethereum
The stats for Ethereum are:
Symbol "ETHUSD", Bar Type = Daily Last Close = +1,599.26 : the close Friday was at +1,599.26. Change from last Sunday (+/-) (+1,638.16) = -38.90 Purple or Gold on top? Gold UOB = +1,705.70 UIB = +1,642.20 MidLine = +1,538.06 MidAngle = 82.24 LIB = +1,433.91 LOB = +1,370.41 Above/Below 21-day MAV = 1438.34 - Above Above/Below 50-day MAV = 1315.20 - Above Above/Below 200-day MAV = 1532.61 - Above Color of DMA_H = Red All Time High = +4,867.81 Percent = -67.15%
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 near 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 down on the week, after a week of dramatic moves upward, like BTC. In afterhours trading tonight it is up 36.50 points.
Last time 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 1,599.26. That's more than 388 points of potential profit since the signal.
Last week I said: "The 200-day MAV is just overhead and I'm expecting it will break that in the next day or so." And it did just that. Now price is above all three MAVs and nearing the UIB at 1,642. I expect it will either break strongly above that this week OR will stutter a bit for a couple of days before breaking through.
Gold
The stats for Gold are:
Symbol "@GC", Bar Type = Daily Last Close = +1,945.6 : the close Friday was at +1,945.6. Change from last Sunday (+/-) (+1,944.9) = +0.7 Purple or Gold on top? Gold UOB = +1,974.5 UIB = +1,953.3 MidLine = +1,917.5 MidAngle = 71.13 LIB = +1,881.7 LOB = +1,860.5 Above/Below 21-day MAV = 1905.82 - Above Above/Below 50-day MAV = 1848.95 - Above Above/Below 200-day MAV = 1822.51 - Above Color of DMA_H = Red All Time High = +2,139.4 Percent = -9.06%
Gold. Gold is up strongly since the Buy signal 10/21/22 at 1,671 and is up over 271 points since the signal. That is to say, it has been recovering nicely.
It's making its way steadily back to the 2,000 level.
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.
Last time I said: "There is a Strong Attractor at 1,967 that could put a damper in the sharp rise when it gets to that point. I might consider taking profits at that point while waiting to see what happens next." And it did just that. The upward momentum has stalled slightly and in after-hours trading GC is down 3.4 points.
Still I think next stop is 2,000 or beyond.
Price is now slightly below the UOB and in a tight Pennant formation holding down further upward price action for the moment. The DMA_H has confirmed a SunnyBands sell signal from 1,946.7 that is now productive though only slightly. It could mean a move down to the DMA currently at 1,917.5.
The next Attractor to the upside is at 2,108.
Gold is currently above all 3 MAVs and very bullish. Those into short-term trading, like me, could be interested in a short-term sell signal, but it's risky.
Bonds
The stats for @US are:
Symbol "@US", Bar Type = Daily Last Close = +130.15625 : the close Friday was at +130.15625. Change from last Sunday (+/-) (+130.46875) = -0.31250 Purple or Gold on top? Gold UOB = +132.21806 UIB = +130.97083 MidLine = +129.00000 MidAngle = 1.43 LIB = +127.02917 LOB = +125.78194 Above/Below 21-day MAV = 129.06 - Above Above/Below 50-day MAV = 128.74 - Above Above/Below 200-day MAV = 132.55 - Below Color of DMA_H = Red All Time High = +164.68750 Percent = -20.97%
Bonds are up on the week by +0.78125 points.
On the weekly chart bonds gave a SunnyBands buy signal on 01/11/23 that was confirmed at 123^22. That was almost 8 points ago! Good move!
On the weekly chart price is above the Flat DMA which lies at 128. The next logical move would be up to the UIB at 132^05.
Last week I said: "On the Daily chart price is above the DMA MidLine and two days ago went up to the UOB on a blue candle and turned back or a red candle. This is a sell signal and was confirmed the next day by price action and by the DMA_Histogram turning red." Since then price moved slowly down to 130^02 for a potential profit of just over 2 point.
Price is right now at 130^1 in the afterhours market, down 3/32nds.
The 200-day MAV lies overhead at 132.56.
With the three different timeframes giving conflicting signals, it's best just to trade price movement on this one and stay with the time horizon you are interested in. I'm staying with the daily chart and expecting a movement down to the DMA MidLine.
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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