Sunday February 26, 2023 VOLUME 7 ISSUE 09
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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, The Daily Traders and Etienne Crete's Desire to Trade.
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.
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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 another Down Day. If tomorrow's prediction holds true, then we will break out of the sideways channel we have been stuck in.
The prediction for Monday calls for a high of 32,959 and a low of 32,546. That's a 400 point spread on the day.
The moving averages are sharply downward now, after moving sideways for over a month. The Short Term MAV has moved up above the Medium and Long-term averages but is now moving back downward signalling more downside action to come.
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, but with some sideways correction in store before that.
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 -1,009.77 on the week (breaking the sideways movement of the market over the last several weeks, having stayed in the sideways channel since 11/30/22. The movement is now below the previously fllat DMA with Purple now on top and price at the LOB.
There is a strong Attractor at 32,505 where I believe price is going next. If it does that and bounces, it will still be in a strong Channel on the Daily chart. If it breaks below that Attractor we are looking at Next Stop 31,749.
There is a very strong Attractor overhead at 34,575. Until we break that level we are not entering a new Bull market.
On the Weekly chart, pulling Fib lines from the low of 09/30/22, we have the 50% retracement at 31,589 and the 61.8% at 30,890.
The DMA is Flatish on the Weekly chart and Price is sitting right on it. Normally I would say that a bounce is now likely with Gold on top and price sitting on the DMA on the Weekly. But, the Daily chart does not confirm that view. Let's look at an overlay of the Daily and Weekly together:
Notice on the chart above that the Daily SunnyBbands is above the Weekly SunnyBands (light green) and has moved down over the UIB of the Weekly (light cyan). This chart is a little trickly to read, but to me it looks like price wants to go down to the Weekly MidLine which lies at 31,932.
Last Week I Said: "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." And that's exactly what happened. We broke the trendline and the Attractor and went on down to the LOB.
In the after-hours market the YM is down -17 points, to 33,848.
I think we will move next to the Fib Attractor at 32,365. We shall see
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 now moving downward, along with the Dow, and is down -111.75 points on the week.
On the Weekly chart we are slowly ticking along sideways with Purple on top and the DMA Flat for 16 weeks. Price is still stuck between a tight Pennant formation that would need to be brroken before a new direction is set.
Price is just barely below the DMA, but it has done this previously only to rebpund. Nevertheless the DMA_H (Dynamic Moving Average Histogram) is now on Purple, suggesting we have farther down to go.
Looking back to the Daily chart, price is just on the LIB and the DMA_H shows Red, and is about to cross over to show Purple. It hasn't done it yet, and Gold is still on top, but it's very close.
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 turning downward. The 15-min is bullish and the shorter term looks are bearish. It's a very mixed bag--very confusing in its message.
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?
I took a look at B
I took a look at BKNG, which has a high PHW, and the chart looks very interesting. Lots of opportunity there.
Stock Scan for those Above all 3 MAVs
Notice that, of the 3,600 stocks I scan, there are now 456 stocks above their 3 MAVs. Last time there were 918 stocks above all three. This time it's a Bearish sign.
Stocks
KDP: Keuring Dr. Pepper
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 35.79 for a potential profit of 2.73 per share.
A SunnyBands Buy signal came up on 01/20/23 at 34.71 and was confirmed the following day at 34.69. The Buy signal is still active and price is at 35.79 for a potential profit of 1.10 points per share.
On the Weekly chart its progress is pretty much sideways to slightly down though price is now moving up toward the Flat DMA.
The stats for SBUX are:
Now let's consider this coffee company: SBUX (Starbucks).
SBUX slowed its upward progression last week and is now below a Pennant formation that slows its progress. It is moving downward toward the DMA on the Weekly chart and the DMA is Flat. Beware the Flat DMA!
The Histogram is showing Red, which is not hopeful, but the DMA is still Gold on the Weekly. I'm guessing that price will hit the LOB on the Daily chart and drop below it to the Attractor at 99.30 (formed by the Flat DMA from December.)
HUM
HUM is Down by -2.72 this week and left its November all time high behind. We are in a Head and Shoulders formation that could fail (as most do) and bounce back upward, or it could follow the classic TA rules and drop down another 75 points before bouncing.
The stats for HUM are:
Symbol "HUM", Bar Type = Daily Last Close = +507.42 : the close Friday was at +507.42. Change from last Sunday (+/-) (+510.14) = -2.72 Purple or Gold on top? Purple UOB = +517.43 UIB = +510.07 MidLine = +498.90 MidAngle = 23.63 LIB = +487.73 LOB = +480.37 Above/Below 21-day MAV = 497.72 - Above Above/Below 50-day MAV = 499.62 - Above Above/Below 200-day MAV = 492.78 - Above Color of DMA_H = Green All Time High = +571.30 Percent = -11.18% on 11/03/2022 76 bars ago.
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. Nevertheless, price is held in a Pennant formation and will need to transgress the upper leg of the Pennant to break out.
AMZN
The stats for AMZN are:
Created : 02/26/2023 06:12pm Symbol "AMZN", Bar Type = Daily Last Close = +93.50 : the close Friday was at +93.50. Change from last Sunday (+/-) (+97.20) = -3.70 Purple or Gold on top? Gold UOB = +104.56 UIB = +102.25 MidLine = +98.57 MidAngle = -13.09 LIB = +94.90 LOB = +92.59 Above/Below 21-day MAV = 100.11 - Below Above/Below 50-day MAV = 94.02 - Below Above/Below 200-day MAV = 109.56 - Below Color of DMA_H = Red All Time High = +188.65 Percent = -50.44% on 07/13/2021 408 bars ago.
AMZN's downward progress has been stymied by a break up above the Attractor at 104.90 this past week and is even broke the 200-day MAV temporarily. But, it fell back down and is now below the DMA (even though strangely Gold is still on top) and is at the LOB. It looks to me like price could make another run upward for the DMA, at the very least.
AMZN is now below all 3 MAVs with the 200-day lying at 109.56 while price is at 93.21.
AMZN was moving sideways last week but has since moved downward. Price is right at the 50-day MAV and the LOB, portending the possibility of more downward action.
TSLA
The stats for TSLA are:
Created : 02/26/2023 06:35pm Symbol "TSLA", Bar Type = Daily Last Close = +196.88 : the close Friday was at +196.88. Change from last Sunday (+/-) (+208.31) = -11.43 Purple or Gold on top? Gold UOB = +217.96 UIB = +208.56 MidLine = +192.62 MidAngle = 16.70 LIB = +176.69 LOB = +167.29 Above/Below 21-day MAV = 193.35 - Above Above/Below 50-day MAV = 156.65 - Above Above/Below 200-day MAV = 221.89 - Below Color of DMA_H = Red All Time High = +414.50 Percent = -52.50% on 11/04/2021 327 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.
TSLA is down on the week by -11.43 points. That sounds bad, but if you look at the chart you can see an inverse head and shoulders that could speak to much higher prices yet to come.
The 200-day MAV is above price and I think that's where price wants to go over the next week or two. The 200-day MAV is currently at 221.89 and price is currently 196.88.
The SunnyBands buy signal at 113.64 on 01/04/23 generated a potential profit of $88.4 per share up to the SunnyBands Sell signal on 02/26/23 at 202.04. The Sell signal is now in place from last week. The DMA is Flat and price has touched it so I'm goijg to be very watchful tomorrow to see whether it drops farther or bounced up off the Flat DMA, as is often the case.
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.
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:
Created : 02/26/2023 01:41pm Symbol "ARKK", Bar Type = Daily Last Close = +38.44 : the close Friday was at +38.44. Change from last Sunday (+/-) (+41.86) = -3.42 Purple or Gold on top? Gold UOB = +43.60 UIB = +42.06 MidLine = +39.62 MidAngle = -1.29 LIB = +37.18 LOB = +35.64 Above/Below 21-day MAV = 40.86 - Below Above/Below 50-day MAV = 36.62 - Above Above/Below 200-day MAV = 40.09 - Below Color of DMA_H = Red All Time High = +159.70 Percent = -75.93% on 02/16/2021 510 bars ago.
ARKK was recovering nicely, along with her largest holding: TSLA. She gapped up slightly on Wednesday the week prior, 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 for a potential profit of nearly 2 points per share.
Price is now at 38.44. I'm watching for price to go on down to the LIB and then progress back up to the DMA MidLine.
Who's On Top at the bottom of the chart is still Gold and it is Gold on the Weekly chart which is encouraging correspondence.
This week she added 34178 shares of U and 128396 more 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
Created : 02/26/2023 01:43pm Symbol "MSFT", Bar Type = Daily Last Close = +249.22 : the close Friday was at +249.22. Change from last Sunday (+/-) (+258.06) = -8.84 Purple or Gold on top? Gold UOB = +269.58 UIB = +264.22 MidLine = +255.55 MidAngle = -10.07 LIB = +246.87 LOB = +241.51 Above/Below 21-day MAV = 258.16 - Below Above/Below 50-day MAV = 246.88 - Above Above/Below 200-day MAV = 252.88 - Below Color of DMA_H = Red All Time High = +349.67 Percent = -28.73% on 11/22/2021 315 bars ago.
MSFT (closing at +249.22 Friday, down -8.84 on the week) is only Above the 50-day MAV and is below the other two which puts it in a Death Cross. The DMA MidLine (at 255.54) is now moving downward and price is now almost touching the LIB, with Gold still on top on the Daily chart and Red is now showing on the DMA_H. It looks like we have farther down to go.
A Buy signal was given on 1/6/23 and confirmed by Price Action the next day. Price was at 227.12.
A SunnyBands Sell signal was given on 02/09/23 at 263.62 for a potential profit of +35.5 points per share from the Long trade.
Now price is at 227.12 and that's a potential of just over 36 points per share on the Short trade.
The long-term trendline now shows that MSFT is down "only" -29% 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.
On the Monthly chart one can see a clear Linear Regression Channel taking price downward. The past month there was some activity outside the Channel, but it didn't make much progress. On the Monthly the DMA is Flat with Purple on top. Price tried to touch the Flat DMA and did, but fell right b ack down. On the Histogram Purple is showing and still making downward progress.
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 292.49.
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.
If you want a Free 7-day Trial, CLICK HERE and we'll set it up.
"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 +76.32 Friday) was down just -0.23 on the week and now gas at my pump is back down at $4.99/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 what it is still doing, in a little sine wave pattern.
On the Weekly chart it looks like price will drop to the Attractor at 70.92.
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:
Created : 02/26/2023 02:44pm Symbol "@BTC", Bar Type = Daily Last Close = +23,345 : the close Friday was at +23,345. Change from last Sunday (+/-) (+25,060) = -1,715 Purple or Gold on top? Gold UOB = +26,097 UIB = +25,108 MidLine = +23,617 MidAngle = 85.15 LIB = +22,126 LOB = +21,137 Above/Below 21-day MAV = 23536.90 - Below Above/Below 50-day MAV = 20704.10 - Above Above/Below 200-day MAV = 21125.90 - Above Color of DMA_H = Red All Time High = +69,690 Percent = -66.50% on 11/10/2021 323 bars ago.
BitCoin is down a bit, this time by -1,715 on the week.
Price is now, in the after-hours market, at 23,680 for a potential profit of $6,775 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:
Created : 02/26/2023 02:45pm Symbol "ETHUSD", Bar Type = Daily Last Close = +1,604.66 : the close Friday was at +1,604.66. Change from last Sunday (+/-) (+1,696.95) = -92.29 Purple or Gold on top? Purple UOB = +1,781.66 UIB = +1,713.38 MidLine = +1,610.18 MidAngle = 26.10 LIB = +1,506.98 LOB = +1,438.70 Above/Below 21-day MAV = 1618.32 - Below Above/Below 50-day MAV = 1468.84 - Above Above/Below 200-day MAV = 1448.99 - Above Color of DMA_H = Purple All Time High = +4,867.81 Percent = -67.04% on 11/10/2021 337 bars ago.
In the after-hours market BTC is up +355 points to 23,690. The Weekly chart looks like price is slowly turning upward which could result in a Cup with Handle formation.
ETHUSD is down on the week (at +1,604.66) by -92.29 points, after a few weeks of dramatic moves upward, like BTC. In afterhours trading tonight it is up over 30 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. That's over 400 points of potential profit since the signal.
I expected price to "stutter" at the DMA and in fact it dropped well below it, only to rebound. Price is now ssitting on the DMA, which is Flat. I'm expecting it to move on up to the UIB at 1709.06.
Gold
The stats for Gold are:
Created : 02/26/2023 02:46pm Symbol "@GC", Bar Type = Daily Last Close = +1,817.1 : the close Friday was at +1,817.1. Change from last Sunday (+/-) (+1,850.2) = -33.1 Purple or Gold on top? Purple UOB = +1,915.1 UIB = +1,897.5 MidLine = +1,863.6 MidAngle = -81.93 LIB = +1,829.8 LOB = +1,812.2 Above/Below 21-day MAV = 1882.81 - Below Above/Below 50-day MAV = 1878.79 - Below Above/Below 200-day MAV = 1813.30 - Above Color of DMA_H = Purple All Time High = +2,202.9 Percent = -17.51% on 09/06/2011 2890 bars ago.
Gold. Gold was strongly up for 14 weeks since the SunnyBands buy signal on 11/04/22 at 1708.10. That was then followed by a sell signal on 01/26/23 at 1946.70 for a potential current profit of 132.7 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. But, it looks like it will go down farther, causing the SunnyBands to continue down with it. Price is right now on the 200-day MAV and
The next Attractor to the upside is at 2,108. The next Attractor on the downside is aat 1,767.
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:
Created : 02/26/2023 02:47pm Symbol "@US", Bar Type = Daily Last Close = +125.00000 : the close Friday was at +125.00000. Change from last Sunday (+/-) (+126.96875) = -1.96875 Purple or Gold on top? Purple UOB = +131.27972 UIB = +130.01583 MidLine = +127.82500 MidAngle = -13.77 LIB = +125.63417 LOB = +124.37028 Above/Below 21-day MAV = 128.99 - Below Above/Below 50-day MAV = 129.71 - Below Above/Below 200-day MAV = 132.75 - Below Color of DMA_H = Purple All Time High = +184.62500 Percent = -32.30% on 03/09/2020 747 bars ago.
Bonds are down on the week just slightly by -1.96875 points.
Price has touched the LOB and bounced into a SunnyBands Buy signal. It was confirmed the next day but my stop below the entry price took the trade off the table for a small loss. Now I'm waiting for more information.
On the weekly chart price was moving sideways for 12 weeks. This past week it dropped under the sideways channel and touched the LIB. Now I'm anticipating a move on down to the LOB on the Weekly chart.
Price is right now at 125^05 in the afterhours market, up 5/32nds.
Price is below all three MAVs.
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