Sunday February 12, 2023 VOLUME 7 ISSUE 07
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NEW Podcasts Dropped: Larry Pesavento and Norm Winski. Great interviews with Sunny & Sam. Give 'em a listen!
More Sunny Harris interviews: Podcasts with Casey Stubbs of How to Trade It, Chat with Traders, Michael Filighera's Eye of the Storm and The Daily Traders.
HAPPY HALF HOUR! On Saturday March 4th at 1:15pm PT (also a Saturday) 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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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.
Sam Tennis 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
And in another vein, if you'd like to visit the Podcast interviews of Sunny they are available Here.
The most recent Episode is with Larry Pesavento and Norm Winski 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.
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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 likely to be an Outside Bar. Nevertheless it's still just going sideways
The prediction for Monday calls for a high of 34,072 and a low of 33,580.
The moving averages are sharply sideways not going anywhere since 01/26/23.
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. Come back and re-load to see it.
http://www.neowave.com
SunnyBands Implications
Dow Jones
The stats for the Dow are:
The Dow is down -56.74 on the week, having stayed in the sideways channel since 11/30/22. The movement is inside of a very sideways channel in SunnyBands with the DMA still staying Flat.
There is a very strong Attractor overhead at 34,575. Until we break that level we are not entering a new Bull market.
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 last week.)
The limits of the Channel are 34.575 on the top and 32,821 on the bottom.
Taking a look at the Weekly chart now for more information: the DMA is moving Slightly upward, Gold is on top and Price is above the DMA, astraddle the UIB (Upper Inner Band). Price has been wavering back and forth above the DMA for 15 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.
There is a TrendLine lying underneath the lows since 9/22 that crosses the current Attractor (just a day or two out) which is providing resistance. I believe that we will break the TrendLine and the Attractor this next week.
Further, going back to the Daily chart, Price is above all 3 MAVs though it is above the 21- day MAV. That's another reason I think we will go on up to the Attractor.
In the after-hours market the YM is down 60 points, to 33835.
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 Larry Pesavento, Norm Winski, Greg Morris, Linda Bradford Raschke, Anka Metcalf and Robert Colby are now posted, Enjoy these great interviews. Ted Hearne coming Next!
S&P 500
The stats for ES are:
The ES is moving upward and has bested its recent high at 4141 in December, which the Dow has yet to do. But the ES is down 15% and the Dow is only down 8%. That's a bit confusing. Price went back into the upward Linear Regression Channel this past week only to fall back down to its 21-day MAV.
The DMA is Flat with Gold on top. Yet the DMA_Histogram is showing Red which gave a SunnyBands sell signal on Friday 02/03/23 at 4147.75.
Price is now at 4099.75 for a potential short profit of +48 points per contract. $2,400 in about a week.
On the Weekly chart we are slowly ticking along sideways with Purple on top and the DMA Flat for 14 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 the 5-min chart and the Daily chart are turning downward but the rest are somewhat Bulllish. I'm looking for upward movement in the equities.
RadarScreen of Stocks
Here again, back by popular demand, is my RadarScreen of Stocks:
Looking at the light green and the gold Bullish stocks. There are Lots of them that are above all 3 MAVs this time, and Bullish.
These are the bullish stocks I am watching for trading.
In the DMA column there is lots of Red signalling symbols turning from Bullish to Bearish. That's not a good sign so be careful in your trading.
Stock Scan for those Above all 3 MAVs
Notice that, of the 3,600 stocks I scan, there are now 873 stocks above their 3 MAVs. Last time there were 1390 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 at 34.94. At the time of the subsequent Sell Signal price was at 38.62 for a potential profit of 3.68 per share.
It has been in a slow but steady decline since the sell signal, and is now in a losing long position if you had held on and didn't take the sell signal. A SunnyBands sell signal was generated on 08/26/22 at 38.62 and price is now at 35.41 for a potential profit of 3.21 per share. We are still on that sell signal with Purple on top.
A new SunnyBands buy signal for those not afraid of a Flat DMA was given on 01/24/23 at 34.98. With price now at 35.41 we have a potential profit of 0.43 points per share and we are now above the 21-day MAV. But with the DMA still Flat and Purple on top the time to take profits is now. If it moves above the Flat DMA then I'm looking at another long entry with a goal of the 50-day MAV at 36.07 and the UIB at 36.16.
On the Weekly chart its progress is pretty much sideways to slightly down.
The chart shows lots of gyrations as it moves along it path. The DMA is now Flat and price is just beneath it. It has tried to push through the DMA each of the last 4 days with no luck. A SunnyBands Buy signal happened on Thursday and was confirmed by the DMA_Histogram, and was confirmed by Price Action. If price breaks above the DMA that will be a Long signal to me.
The stats for SBUX are:
Now let's consider this coffee company: SBUX (Starbucks).
SBUX has slowed its upward progression this week and is stuck in a Pennant formation that slows its progress.
Though slightly, it is actually above the Flat DMA. To me that's a bullish sign. It will need to break out of the top of the Pennant which is at 107.71 for me to get excited again.
I'm still expecting more upside action this month.
HUM
HUM is up +22.05 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 498.62 for a potential profit of about 54 points per share. And so far we are still in the Sell signal from SunnyBands.
The stats for HUM are:
Symbol "HUM", Bar Type = Daily Last Close = +498.62 : the close Friday was at +498.62. Change from last Sunday (+/-) (+476.57) = +22.05 Purple or Gold on top? Purple UOB = +535.60 UIB = +520.32 MidLine = +496.48 MidAngle = 0.43 LIB = +472.63 LOB = +457.35 Above/Below 21-day MAV = 493.16 - Above Above/Below 50-day MAV = 506.74 - Below Above/Below 200-day MAV = 489.79 - Above Color of DMA_H = Green All Time High = +571.30 Percent = -12.72% on 11/03/2022 67 bars ago.
HUM is down again, producing a sizable potential profit on the short trade signaled by SunnyBands.
The signal is still in a short position and the DMA is now Flat.
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.
It did tried again this week to break above the Flat DMA and just barely made it on Friday.
AMZN
The stats for AMZN are:
Symbol "AMZN", Bar Type = Daily Last Close = +97.61 : the close Friday was at +97.61. Change from last Sunday (+/-) (+103.39) = -5.78 Purple or Gold on top? Gold UOB = +110.26 UIB = +106.23 MidLine = +99.50 MidAngle = -2.43 LIB = +92.77 LOB = +88.74 Above/Below 21-day MAV = 99.70 - Below Above/Below 50-day MAV = 92.99 - Above Above/Below 200-day MAV = 110.79 - Below Color of DMA_H = Red All Time High = +188.65 Percent = -48.26% on 07/13/2021 399 bars ago.
AMZN is now above the 50-day MAVs with the 200-day lying at 110.79 while price is at 97.61. That's a Death Cross which could speak to impending price movement downward. Last week it created a 7-point gap upward that will need to be filled bring price back upward.
AMZN was moving downward all week but is encountering a Flat DMA that has contained price movement. It is below the other two MAVs.
This week price fell below the 23.6% Fibonacci retracement level and the next Fib above is at 117.34 with the LIB lying below at 92.76. It's a mixed message.
TSLA
The stats for TSLA are:
Symbol "TSLA", Bar Type = Daily Last Close = +196.89 : the close Friday was at +196.89. Change from last Sunday (+/-) (+189.98) = +6.91 Purple or Gold on top? Gold UOB = +208.91 UIB = +199.30 MidLine = +181.15 MidAngle = 74.12 LIB = +163.00 LOB = +153.39 Above/Below 21-day MAV = 163.51 - Above Above/Below 50-day MAV = 152.95 - Above Above/Below 200-day MAV = 225.97 - Below Color of DMA_H = Red All Time High = +414.50 Percent = -52.50% on 11/04/2021 318 bars ago.
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-day MAV lies overhead at 229.09. That's looking like a target to me. Last week I said there was an Attractor overhead at 175 and TSLA passed right through it after stumbling there for a few days. The next overhead Attractor is right above the 200-day MAV. I believe we are going there next. TSLA has gone up 79 points since the SunnyBands buy signal. Smart!
The SunnyBands buy signal at 113.64 on 01/04/23 has generated a potential profit of $83.25 per share.
Last month 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.
On Thursday TSLA went above the UOB on a Doji candle and then dropped back to the UIB for a Sell signal. If price action confirms the Sell signal tomorrow I'm out.
This is still my favorite stock. But, at this point I'm a trader, not an investor yet.
Right now price is at the nearly Flat DMA with Gold on top. Price may stumble with that resistance for a few days, but I am guessing it will pass through that level and go on up to the UIB at 218.74 unless the Sell signal is confirmed tomorrow.
Seems to me people should be flocking to TSLA with gas prices high still. It is now back up to $5.00/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 long-term 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 = +39.15 : the close Friday was at +39.15. Change from last Sunday (+/-) (+42.85) = -3.70 Purple or Gold on top? Gold UOB = +43.77 UIB = +42.02 MidLine = +39.16 MidAngle = 0.72 LIB = +36.31 LOB = +34.56 Above/Below 21-day MAV = 39.12 - Above Above/Below 50-day MAV = 35.78 - Above Above/Below 200-day MAV = 40.42 - Below Color of DMA_H = Red All Time High = +159.70 Percent = -2.87% on 02/16/2021 501 bars ago.
ARKK was recovering nicely, along with her largest holding: TSLA. She gapped up on Thursday above the UOB and on Friday dropped back not only under the UOB and UIB, but is now touching the Flat DMA. If TSLA goes up, so will ARKK.
A SunnyBands Sell signal occurred on Wednesday of this week at 41.74 and price is now at 39.15. That's a couple of points potential profit.
On the Weekly chart price is right on the Flat DMA and the UOB lies at 48.18 which is where I think she's going next.
Who's On Top at the bottom of the chart is still Gold though it is Purple on the Weekly chart.
This week she added 139105 shares of COIN to her collection.
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 = Daily Last Close = +263.10 : the close Friday was at +263.10. Change from last Sunday (+/-) (+258.35) = +4.75 Purple or Gold on top? Gold UOB = +268.80 UIB = +262.12 MidLine = +251.03 MidAngle = 42.77 LIB = +239.94 LOB = +233.26 Above/Below 21-day MAV = 249.12 - Above Above/Below 50-day MAV = 245.05 - Above Above/Below 200-day MAV = 253.79 - Above Color of DMA_H = Red All Time High = +349.67 Percent = -24.76% on 11/22/2021 306 bars ago.
MSFT (closing at 263.10 Friday, up +4.75 on the week) is Above all three MAVs. The DMA MidLine (at 251.02) is now moving upward nicely, with Gold now on top on the Daily chart and Red is now showing on the DMA_H. 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 263.10 and that's a potential of just over 35 points per share on a long trade.
The long-term trendline now shows that MSFT is down "only" -25% from its all-time high of 349.67. 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.
Nevertheless, price continues to show strength. Even with Red Candles we are exploring higher prices.
On the Weekly chart price is touching the Flat DMA with Purple on top. Again, price often stumbles for a few days in this configuration. It is likely that that will happen and then the DMA will turn upward with price moving above the DMA and on up to the UOB at 293.23.
Further, the Linear Regression channel showing on the chart is about to be penetrated to the upside. That will produce even further price increases.
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 +79.39 Friday) was up +6.33 on the week and now gas at my pump is still at $5.00/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."
This week we got a SunnyBands Buy signal at 74.11 and now price is at 79.32 for a 5 point potential profit.
Last week I said: "There is a strong Attractor right below current price at 70.92. Price will test that level in all likelihood. Possibly tomorrow." And it went right down to that level--almost. It stopped short of the Attractor and the LOB and bounced back up.
Price has been weak and has only been moving back and forth between the Inner Bands. That's a sign of weakness. So, I expect it to move up to the UIB this week at 81.10.
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 = +21,775 : the close Friday was at +21,775. Change from last Sunday (+/-) (+23,485) = -1,710 Purple or Gold on top? Gold UOB = +24,444 UIB = +23,787 MidLine = +22,791 MidAngle = -87.98 LIB = +21,794 LOB = +21,138 Above/Below 21-day MAV = 22486.43 - Below Above/Below 50-day MAV = 19302.20 - Above Above/Below 200-day MAV = 21527.00 - Above Color of DMA_H = Red All Time High = +69,500 Percent = -68.67% on 11/10/2021 314 bars ago.
BitCoin is down on the week -1,710 points.
Price is now, in the after-hours market, at 21,835 (up just 60points) for a potential profit since the signal of 12/22/22.
Purple is on top on a Flat DMA with price below the DMA . This past week we had movement below the DMA and down to the LIB. Now it's trying to recover after being up nicely.
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. Ted's podcast will be posted next week.
There are two interlocking Pennant formations at the top of current price action constraining price movement. To break out of the Pennants price needs to best 24,450. When it does all bets are off!
Ethereum
The stats for Ethereum are:
Symbol "ETHUSD", Bar Type = Daily Last Close = +1,508.50 : the close Friday was at +1,508.50. Change from last Sunday (+/-) (+1,657.89) = -149.39 Purple or Gold on top? Gold UOB = +1,735.07 UIB = +1,675.72 MidLine = +1,586.30 MidAngle = -68.64 LIB = +1,496.88 LOB = +1,437.53 Above/Below 21-day MAV = 1593.54 - Below Above/Below 50-day MAV = 1395.84 - Above Above/Below 200-day MAV = 1470.65 - Above Color of DMA_H = Red All Time High = +4,867.81 Percent = -69.01% on 11/10/2021 327 bars ago.
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 up on the week (+58.63), after a few weeks of dramatic moves upward, like BTC. In afterhours trading tonight it is down -28.64 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. On Wednesday we had a SunnyBands Sell signal at 1652.83 and now price is down to 1511.87.
I expected price to "stutter" at the DMA and in fact it dropped well below it. Price is now at the LIB on a Doji candle and in the afterhours market is up just over 3 points. The DMA is visually "Flatish" and price needs to move back up to that level (1583.31 ) to show strength.
Gold
The stats for Gold are:
Symbol "@GC", Bar Type = Daily Last Close = +1,874.5 : the close Friday was at +1,874.5. Change from last Sunday (+/-) (+1,876.6) = -2.1 Purple or Gold on top? Purple UOB = +1,973.7 UIB = +1,948.5 MidLine = +1,907.6 MidAngle = -67.76 LIB = +1,866.6 LOB = +1,841.4 Above/Below 21-day MAV = 1922.92 - Below Above/Below 50-day MAV = 1872.73 - Above Above/Below 200-day MAV = 1817.34 - Above Color of DMA_H = Purple All Time High = +2,202.9 Percent = -14.91% on 09/06/2011 2881 bars ago.
Gold. Gold has been strongly up for 14 weeks since the SunnyBands buy signal on 11/04/22 at 1708.10. Since then we are up 164 points.
It's making its way steadily back to the 2,000 level.
The DMA is now Purple on top for the last 5 days and is moving downward.
Price is caught in a Pennant formation and to make further up movement will need to break 1932 and the DMA which is at 1904.9.
The SunnyBands Sell signal came on 01/26/23 at 1946.7 and price is now at 1872.5 for a potential profit of 74.2 points.
The last days of my Once in a Lifetime Bundle Discounts is ending on February 28th. There is still time for you to take advantage of up to 30% Discounts. Click Here.
Price is now just above the LIB and is possibly heading on down to the LOB. If it turns at the LIB that's a sign that the downward motion is weak and the upward movement will continue.
The next Attractor to the upside is at 2,108.
Purple is now on top and price is well below it on a couple of sharp days down. there is a strong Attractor at 1,861 that is just below current price. I'm guessing price will continue on down to that level and then bounce.
Bonds
The stats for @US are:
Symbol "@US", Bar Type = Daily Last Close = +126.93750 : the close Friday was at +126.93750. Change from last Sunday (+/-) (+130.06250) = -3.12500 Purple or Gold on top? Purple UOB = +132.02167 UIB = +130.80500 MidLine = +128.97000 MidAngle = -8.25 LIB = +127.13500 LOB = +125.91833 Above/Below 21-day MAV = 130.02 - Below Above/Below 50-day MAV = 129.29 - Below Above/Below 200-day MAV = 132.11 - Below Color of DMA_H = Purple All Time High = +183.43750 Percent = -30.80% on 03/09/2020 738 bars ago.
Bonds are down on the week by -3.1250 points.
Bonds are down, interest rates are up.
On the weekly chart price is just below the Flat DMA which lies at 127^30. The next logical move would be down to the LIB at 123^27.
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 127^2 in the afterhours market, up 2/32nds.
The 200-day MAV lies overhead at 132.04.
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 LOB. I expect bond prices to fall farther.
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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