Sunday February 19, 2023 VOLUME 7 ISSUE 08
Last week I said I would likely not publish this week's issue, but here I am. I had cataract surgery Friday morning and am healing nicely. Can't see much with that eye, but I'm keeping on. I have the monitors enlarged to 200%. Please excuse any errors.
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NEW Podcasts Dropped: Ted Hearne, 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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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 Ted Hearne. 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.
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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 33,976 and a low of 33,514.
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 (speaking to the sideways movement of the current market), 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 Flatish. Actually it is moving slightly downward which could speak to lower prices, but visually it's pretty Flat.
I always warn to Beware of a Flat DMA.
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.
On the Weekly chart the Dow looks like it is failing the upward move by staying under the UOB and sticking right to the UIB.
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 -17 points, to 33,848.
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 Ted Hearne, Larry Pesavento, Norm Winski, Greg Morris, Linda Bradford Raschke, Anka Metcalf and Robert Colby are now posted, Enjoy these great interviews. Dan Passarelli 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 below its 21-day MAV.
The DMA is Flat with Gold on top. The DMA Histogram signalled Bullish 2 days ago as price touched the Flat DMA. I will only be interested in this signal when it is confirmed by Price Action.
That was a potential profit of 23 points on the short and now we are looking for a long trade.
On the Weekly chart we are slowly ticking along sideways with Purple on top and the DMA Flat for 15 weeks. Price is stuck between a tight Pennant formation that would need to be brroken before a new direction is set.
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 Gold after recovering from Red readings. Gold is still on top and suggesting more upward movement is coming.
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 few weeks:
"My consulting sessions with Sunny started from a cringeworthy point. I was a rank novice. I was impressed with her patience and calm responses as we began working on terminology, process and setting up my trading platform. She was great at directing me to areas I needed to supplement my learning, as well as guiding me away from subjects distracting to a beginner. With her decades of expertise, she was able to break down complexities into bite-sized chunks so that sessions were productive. I found over a short period of time I was asking smarter questions, and eager to learn more. Sunny is a talented mathematician and programmer who develops her own tools, but her style of coaching is cheerful and encouraging, not intimidating. You become a student of the craft of trading -- setting up your own strategies, and testing them until you know they're likely to work. The SunnyBands system she created and sells is also what she trades with herself. If you are a beginner, she can start at an appropriate point for you and raise you up to the level you're ready for her SunnyBands system. I'm still a work-in-progress, but with Sunny I chose a solid business partner, and as it turned out, I also made a good friend. Thoroughly recommend Sunny!" -Jill T.
"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 Weekly chart is turning upward and the Monthly chart is bullishas is the 15-min. However, the 5-min chart is turning down as is the 1-minn.
RadarScreen of Stocks
Here again, back by popular demand, is my RadarScreen of Stocks:
The light green columns are beginning to show light red. Thus prices are below the 21-period MAV on these symbols. Could this be foretelling another correction?
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 918 stocks above their 3 MAVs. Last time there were 873 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 35.67 we have a potential profit of 0.60 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 just now above a Pennant formation that slows its progress.
Though slightly, it is actually above the Flat DMA. To me that's a bullish sign. It broke out of the Pennant formation this week and that's a positive sign that could signal more upward movement.
I'm still expecting more upside action this month.
HUM
HUM is up +11.52 points this week after being down for several weeks and yet it was up over the past week. We got a SunnyBands sell signal on 11/04/22 which has flipped a couple times but has now turned to a buy signal as of 02/07/23. The signal came at a price of 481.00 and we are now at 510.14 for a potential profit of about 29 points per share. And so far we are still in the Buy signal from SunnyBands.
The stats for HUM are:
Symbol "HUM", Bar Type = Daily Last Close = +510.14 : the close Friday was at +510.14. Change from last Sunday (+/-) (+498.62) = +11.52 Purple or Gold on top? Purple UOB = +518.29 UIB = +510.26 MidLine = +497.80 MidAngle = 27.02 LIB = +485.34 LOB = +477.31 Above/Below 21-day MAV = 496.26 - Above Above/Below 50-day MAV = 502.32 - Above Above/Below 200-day MAV = 491.31 - Above Color of DMA_H = Green All Time High = +571.30 Percent = -10.71% on 11/03/2022 72 bars ago.
HUM is now up again, producing a sizable potential profit on the long trade signaled by SunnyBands.
The signal is still in a long position and the DMA is now Flat.
This is one of those times when I let Price Action tell me what's happening next. Price is currently right at the UIB and I'm expecting it to continue on up to the UOB at 518.29.
AMZN
The stats for AMZN are:
Symbol "AMZN", Bar Type = Daily Last Close = +97.20 : the close Friday was at +97.20. Change from last Sunday (+/-) (+97.61) = -0.41 Purple or Gold on top? Gold UOB = +106.57 UIB = +103.95 MidLine = +99.45 MidAngle = -2.86 LIB = +94.95 LOB = +92.33 Above/Below 21-day MAV = 100.51 - Below Above/Below 50-day MAV = 93.59 - Above Above/Below 200-day MAV = 109.99 - Below Color of DMA_H = Red All Time High = +188.65 Percent = -48.48% on 07/13/2021 404 bars ago.
AMZN is now below the 21-day MAVs with the 200-day lying at 109.99 while price is at 97.19. That's a Gollden Cross which could speak to impending price movement upward. Last week it created a 7-point gap upward that was closed by subsequent price action. Now price is stuck in a tight Pennant formation out of which it must break to continue any upward action.
AMZN was moving sideways all week but is encountering a Flat DMA that has contained price movement. It is below the 220- and 21-day MAVs but above the 40-day MAV.
There is a Fib line above at 104.90 which is calling to price. That's why I call them Attractors.
TSLA
The stats for TSLA are:
Symbol "TSLA", Bar Type = Daily Last Close = +208.31 : the close Friday was at +208.31. Change from last Sunday (+/-) (+196.89) = +11.42 Purple or Gold on top? Gold UOB = +218.00 UIB = +208.34 MidLine = +191.39 MidAngle = 49.11 LIB = +174.45 LOB = +164.79 Above/Below 21-day MAV = 182.32 - Above Above/Below 50-day MAV = 154.59 - Above Above/Below 200-day MAV = 223.71 - Below Color of DMA_H = Red All Time High = +414.50 Percent = -49.74% on 11/04/2021 323 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 223.70. That's looking like a target to me. Price is currrently at 209.00. 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 at 235.85. I believe we are going there next. TSLA has gone up 95 points since the SunnyBands buy signal. Smart!
The SunnyBands buy signal at 113.64 on 01/04/23 has generated a potential profit of $95.36 per share. Don't you think you need this software?
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.
Last week I said: "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." That did not happen. Price continued on upward.
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. I'm thinking that prie will move on down to the DMA at 191.40 and then continue its upward trek.
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 = +41.86 : the close Friday was at +41.86. Change from last Sunday (+/-) (+39.15) = +2.71 Purple or Gold on top? Gold UOB = +43.71 UIB = +42.17 MidLine = +39.67 MidAngle = 5.00 LIB = +37.17 LOB = +35.63 Above/Below 21-day MAV = 40.47 - Above Above/Below 50-day MAV = 36.25 - Above Above/Below 200-day MAV = 40.23 - Above Color of DMA_H = Red All Time High = +159.70 Percent = -73.79% on 02/16/2021 506 bars ago.
ARKK was recovering nicely, along with her largest holding: TSLA. She gapped up slightly on Wednesday right to the UOB and on Friday dropped back almost to the MidLine. If TSLA goes up, so will ARKK.
A SunnyBands Sell signal occurred on Wednesday of last week at 41.74 and was closed at the Flat DMA at 39.82.
Price is now at 41.86. I'm watching for price to bounce off the DMA and move on up to the UOB at 43.73.
On the Weekly chart price is right on the Flat DMA and the UOB lies at 48.15 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 102825 shares of SHOP 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 = +258.06 : the close Friday was at +258.06. Change from last Sunday (+/-) (+263.10) = -5.04 Purple or Gold on top? Gold UOB = +273.76 UIB = +267.19 MidLine = +256.25 MidAngle = 4.72 LIB = +245.30 LOB = +238.73 Above/Below 21-day MAV = 256.13 - Above Above/Below 50-day MAV = 246.51 - Above Above/Below 200-day MAV = 253.37 - Above Color of DMA_H = Red All Time High = +349.67 Percent = -26.20% on 11/22/2021 311 bars ago.
MSFT (closing at 258.06 Friday, down -5.04 on the week) is Above all three MAVs. The DMA MidLine (at 256.25) is now moving downward and is now touching the Flat DMA, with Gold still 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 258.06 and that's a potential of just over 30 points per share on a long trade.
For SunnyBands followers: a sell signal was issued on 02/15/23 at 269.32. The potential profit for that short trade is just over 11 points so far.
The long-term trendline now shows that MSFT is down "only" -22% 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 long-term even though it is currently down. 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 292.90.
Further, the Linear Regression channel showing on the chart has been 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 +76.55 Friday) was down -3.41 on the week and now gas at my pump is back up at $5.10/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 Price moved slowly down until it was slightly below the Flat DMA where it still resides.
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 two 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 = +24,870 : the close Friday was at +24,870. Change from last Sunday (+/-) (+21,775) = +3,095 Purple or Gold on top? Gold UOB = +25,495 UIB = +24,617 MidLine = +23,284 MidAngle = 89.71 LIB = +21,950 LOB = +21,072 Above/Below 21-day MAV = 23190.71 - Above Above/Below 50-day MAV = 19966.00 - Above Above/Below 200-day MAV = 21162.80 - Above Color of DMA_H = Gold All Time High = +69,500 Percent = -64.22% on 11/10/2021 319 bars ago.
BitCoin is up again, this time by +3,095 on the week.
Price is now, in the after-hours market, at 24,485 for a potential profit of $7,760 since the signal of 12/22/22.
Gold is on top on a rising DMA with price above the DMA. 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. Dan Passarelli's podcast will be posted next week.
Price is above the Pennant formations at the top of current price action constraining price movement. The breakout is a further positive sign for BTC.
Ethereum
The stats for Ethereum are:
Symbol "ETHUSD", Bar Type = Daily Last Close = +1,696.95 : the close Friday was at +1,696.95. Change from last Sunday (+/-) (+1,508.50) = +188.45 Purple or Gold on top? Purple UOB = +1,778.70 UIB = +1,707.71 MidLine = +1,600.35 MidAngle = 82.30 LIB = +1,492.99 LOB = +1,422.00 Above/Below 21-day MAV = 1612.42 - Above Above/Below 50-day MAV = 1431.87 - Above Above/Below 200-day MAV = 1458.01 - Above Color of DMA_H = Green All Time High = +4,867.81 Percent = -65.14% on 11/10/2021 332 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 (+1,696.95), after a few weeks of dramatic moves upward, like BTC. In afterhours trading tonight it is down -11.69 points.
A few weeks ago 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.
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 12 points. The DMA is visually moving upward and price is right at the UIB. I expect it will move on up to the UOB at 1778.69.
Gold
The stats for Gold are:
Symbol "@GC", Bar Type = Daily Last Close = +1,850.2 : the close Friday was at +1,850.2. Change from last Sunday (+/-) (+1,874.5) = -24.3 Purple or Gold on top? Purple UOB = +1,939.5 UIB = +1,920.9 MidLine = +1,886.6 MidAngle = -74.99 LIB = +1,852.4 LOB = +1,833.7 Above/Below 21-day MAV = 1905.37 - Below Above/Below 50-day MAV = 1877.62 - Below Above/Below 200-day MAV = 1815.20 - Above Color of DMA_H = Purple All Time High = +2,202.9 Percent = -16.01% on 09/06/2011 2886 bars ago.
Gold. Gold was strongly up for 14 weeks since the SunnyBands buy signal on 11/04/22 at 1708.10. That was followed by a sell signal on 01/26/23 at 1946.70 for a potential current profit of 94.8 points.
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Price is now right at the LIB and is possibly heading back 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.
Price is caught in a tight Pennant formation out of which it must break for upward motion to continue. Price is also below the 21- and 50-day MAVs which is bearish.
Purple is now on top and price is well below it on a couple of sharp days down. Price broke below the Attractor I told you about last time at 1,861 and now will have to break that to the upside to resume any upward momentum.
Bonds
The stats for @US are:
Symbol "@US", Bar Type = Daily Last Close = +125.78125 : the close Friday was at +125.78125. Change from last Sunday (+/-) (+126.93750) = -1.15625 Purple or Gold on top? Purple UOB = +131.03583 UIB = +129.87750 MidLine = +127.93000 MidAngle = -15.38 LIB = +125.98250 LOB = +124.82417 Above/Below 21-day MAV = 128.96 - Below Above/Below 50-day MAV = 129.02 - Below Above/Below 200-day MAV = 131.80 - Below Color of DMA_H = Purple All Time High = +183.43750 Percent = -31.43% on 03/09/2020 743 bars ago.
Bonds are down on the week just slightly by -1.15625 points.
Price has touched the LOB and bounced into a SunnyBands Buy signal. But it has not yet been confirmed by price action or by the DMA Histogram. Purple is on top and it looks like price will drop even further.
Bonds are down, interest rates are up.
On the weekly chart price has been moving sideways for 12 weeks. It is currently below the DMA (Purple) but is not yet down to the LIB, which is where I think it's going.
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 125^21 in the afterhours market, down 4/32nds.
Price is below all three MAVs.
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