Sunday March 12, 2023 VOLUME 7 ISSUE 11
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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. Interview in Business Insider this weekend.
HAPPY HALF HOUR! On Tuesday April 4th at 1:15pm. PT 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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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.
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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.
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 likely to be another Significant Down Day. If tomorrow's prediction holds true, then we will move below 32,000, into the 31,000 area to touch if not break the 50% Fib level.
The prediction for Monday calls for a high of 32,297 and a low of 31,631. That's a 600 point spread on the day and a large and significant down move.
The moving averages have moved into a Death Cross configuration, likely portending more movement down.
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 -1,481.33 on the week dropping through the LOB and touching th 50% Fib line. This movement has taken us out of the lengthy Channel we were in -- to the downside. The next Attractor below lies at 31,175. I think at the very least we will test that level this week, if not tomorrow.
Last week I said: "If it breaks below that Attractor we are looking at Next Stop 31,749." And that's just about where we are right now (31,909).
On the Weekly chart, pulling Fib lines from the low of 09/30/22, we are looking at an Attractor that lies below at 29,866. It might take a week, it might take a few more, but I think (which SVB's failure) we just might see that value hit soon.
Last week I said: "Notice on the chart above that the Daily SunnyBands 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." That's right where we are now.
Last Time 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 up to the Flat DMA.
There is a Strong Attractor at 31,469 that is likely the next target, taking the Dow below the DMA Midline on the Weekly chart. Next we need to see if it goes on down to the weekly LIB at 30,931.
To me it looks like a rolling medium-term bear market rather than a crash is in store. On the Monthly chart we have been in a SunnyBands sell signal since 01/31/22.
In the after-hours market the YM is up 318 points, to 32,475.
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 ES is continuing to move downward, along with the Dow, and is down -187.00 points on the week.
A trendline drawn on the lows from 02/02/23 has been acting as support all year. Price is right now on that trendline though Purple is on top and the DMA_H is showing Purple. If we break below this trendline we could easily drop to the Attractor that lies at 3,749.
I rolled over my S&P trades on Thursday (Rollover) with Expiration coming this Friday. I'm now trading the ESM23 futures contract.
In the after-hours market the ES is up 43 points to 3,939.
Price is under the Purple DMA and is sitting on the LOB. It looks to me like it wants to continue on downward on the Daily chart.
On the Weekly chart we are slowly ticking along sideways with Purple on top and the DMA Flat for 18 weeks. Price is just touching the LIB and could move in either direction.
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 fully Bullish. The 15-min is Bullish turning down and the shorter term looks are mixed.
RadarScreen of Stocks
Here again, back by popular demand, is my RadarScreen of Stocks:
The RadarScreen shows on the right, in yellow, the stocks with the highest PHW (those most tradeable). In the MovingAvg_3Lines columns you'll see Little green, signifying that many of the equities are becoming bearish.
I took a look at BKNG, which has a high PHW, and the chart looks very interesting. Lots of opportunity there as it continues to soar.
Stock Scan for those Above all 3 MAVs
I've done something different this week. This time I added a condition to the Scan that symbols must have >= 1,000,000 volume. That narrows the search down quite a bit. And now there are 55 stocks that meet the conditions.
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 34.32 for a potential profit of 4.30 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 was closed at the UIB on 02/24/23 for $3.16 potential profit per share.
On this Weekly chart KDP is basically going sideways, which is stronger than the overall market has been.
The stats for SBUX are:
Now let's consider this coffee company: SBUX (Starbucks).
SBUX resumed its downward progression (-5.17) this past week and is now right at the Attractor I had mentioned at 99.80. Attractors act as support and resistance and can either stop further downward progression or price could break below it and then try to retest from the under side. If it breaks below the Attractor and keeps on going, there is another Attractor at 96.43 that it could be reaching for.
HUM
HUM is Down by -20.55 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:
Created : 03/11/2023 06:38pm Symbol "HUM", Bar Type = Weekly Last Close = +479.66 : the close Friday was at +479.66. Change from last Sunday (+/-) (+500.21) = -20.55 Purple or Gold on top? Gold UOB = +552.79 UIB = +531.78 MidLine = +499.23 MidAngle = -27.25 LIB = +466.68 LOB = +445.67 Above/Below 21-day MAV = 512.49 - Below Above/Below 50-day MAV = 487.60 - Below Above/Below 200-day MAV = 407.43 - Above Color of DMA_H = Red All Time High = +571.30 Percent = -16.04% on 11/04/2022 18 bars ago.
The price of HUM is down -20.55 on the week. Furthermore price dropped out of the Linear Regression Channel we had on the chart. In this case we will probably test the bottom of the Pennant formation you see on the chart. That bottom level is 471.68. Price tonight is 479.66. That's 8 more points down.
Actually, I think it will drop farther than that as I think the overall market is in for a bit of a correction.
AMZN
The stats for AMZN are:
Created : 03/11/2023 06:37pm Symbol "AMZN", Bar Type = Weekly Last Close = +90.73 : the close Friday was at +90.73. Change from last Sunday (+/-) (+94.90) = -4.17 Purple or Gold on top? Purple UOB = +120.24 UIB = +113.60 MidLine = +102.51 MidAngle = -23.39 LIB = +91.42 LOB = +84.78 Above/Below 21-day MAV = 95.40 - Below Above/Below 50-day MAV = 112.58 - Below Above/Below 200-day MAV = 131.19 - Below Color of DMA_H = Green All Time High = +188.65 Percent = -51.91% on 07/16/2021 86 bars ago.
AMZN's downward progress had been stymied by a break up above the Attractor at 104.90 last week and now is back on the move downward. This week it is down -4.17 points.
There is a very strong Attractor under the current AMZN market at 84.67. We hit that level several times (November - December) and bounced. It will probably try that one more time. Will it break below? Only time will tell.
AMZN is now below all three MAVs. That puts it in a Death Cross configuration. Last time I said: "BUT the 21-day MAV is sloping downward towards the 50-day and could be heading for a Death Cross." And that's what it did.
AMZN was moving sideways over the last few weeks and is now going on downward. Price is right below the 21-day MAV and approaching the LOB, signalling the possibility of more downward action.
TSLA
The stats for TSLA are:
Created : 03/11/2023 06:40pm Symbol "TSLA", Bar Type = Weekly Last Close = +173.44 : the close Friday was at +173.44. Change from last Sunday (+/-) (+197.79) = -24.35 Purple or Gold on top? Purple UOB = +240.27 UIB = +219.07 MidLine = +181.78 MidAngle = 7.27 LIB = +144.48 LOB = +123.28 Above/Below 21-day MAV = 175.71 - Below Above/Below 50-day MAV = 231.96 - Below Above/Below 200-day MAV = 172.53 - Above Color of DMA_H = Green All Time High = +414.50 Percent = -58.16% on 11/05/2021 70 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 -24.35 points. Over a week ago I said: "if you look at the chart you can see an inverse head and shoulders that could speak to much higher prices yet to come." Yet this week price edged downward.
A SunnyBands Sell signal was given on 02/26/23 and confirmed by Price Action on the next bar. The price was at 208.31. It is now sitting at 174.47 for a potential profit of 33.84 points.
Price is sitting right on top of a Flat DMA on the Weekly chart and could bounce from there. On the DMA_H the lines are Green and heading for the zero-line, which could foretelI a Gold crossover and higher prices.
I'm not betting on it though. I have a feeling that the market will react to a bank failure negatively. One bank failure could lead to more. And then we've got a 2008 situation.
Volume is higher than average on TSLA. That could easily mean accumulation. It hasn't been on down volume though.
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.
Two weeks 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 happened a day later and gave a Sell signal.
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 $5.20/gal in my neighborhood.
I still believe we will continue to turn to carbon-neutral technologies and electric vehicles. I have not yet purchased their vehicle because I'm waiting for better batteries. I would want to get to LA and back on one charge before it is viable technology in my mind. When the batteries are better I expect this stock to really take off.
Notice that I think TSLA is still a good 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 : 03/11/2023 06:37pm Symbol "ARKK", Bar Type = Weekly Last Close = +37.29 : the close Friday was at +37.29. Change from last Sunday (+/-) (+40.46) = -3.17 Purple or Gold on top? Gold UOB = +49.03 UIB = +45.39 MidLine = +39.89 MidAngle = -0.72 LIB = +34.38 LOB = +30.74 Above/Below 21-day MAV = 36.93 - Above Above/Below 50-day MAV = 41.91 - Below Above/Below 200-day MAV = 73.62 - Below Color of DMA_H = Gold All Time High = +159.70 Percent = -76.65% on 02/19/2021 107 bars ago.
ARKK was recovering nicely, along with her largest holding: TSLA. She gapped up slightly on Wednesday of the week prior, right to the UOB and on Friday dropped back almost to the MidLine. If TSLA goes up, so will ARKK.When TSLA goes down, so does ARKK.
ARKK has, on the Weekly chart, been going sideways since 06/17/22. It just continues. On the Daily chart she managed some recovery from 12/28/22 to 02/022/23 and since that has fallen back. Now ARKK is approaching a Strong Attractor at 34.00. Price is now at 36.02. I think it will at least go down to that level.
A SunnyBands Sell signal occurred on 02/16/23 at 41.74 and was closed at the Flat DMA at 39.82 for a potential profit of nearly 2 points per share. A second Sell signal was generated on 03/07/23 at 39.50 and so far has racked up 3.48 points in potential profit per share.
Price is now at 36.02. 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 Purple and is below the zero-line.
This week she added 103129 more shares of COIN and 139296 of shares of KIND 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 : 03/11/2023 06:39pm Symbol "MSFT", Bar Type = Weekly Last Close = +248.59 : the close Friday was at +248.59. Change from last Sunday (+/-) (+255.29) = -6.70 Purple or Gold on top? Purple UOB = +289.83 UIB = +277.25 MidLine = +256.15 MidAngle = -0.86 LIB = +235.05 LOB = +222.47 Above/Below 21-day MAV = 244.95 - Above Above/Below 50-day MAV = 256.70 - Below Above/Below 200-day MAV = 228.41 - Above Color of DMA_H = Green All Time High = +349.67 Percent = -28.91% on 11/26/2021 67 bars ago.
MSFT (closing at 248.59 Friday, down -6.70 on the week) is Above the 21-day and 200-day MAVs but Below the 50-day MAV. If the 50-day crosses above the 200-day we will have a Golden Cross configuration, and likely higher prices. On the other hand, if it move downward with price we will have a Bearish situation.
MSFT is doing a little sine wave dance, going up and down, up and down.
On the DMA_Histogram Red is diminishing and could easily cross to Purple for more downside action.
A Buy signal was given on 1/6/23 and confirmed by Price Action the next day. Price was at 227.12. It went to 273.80 and then gave a Sell signal. Potential Profit: $46.68 per share.
A SunnyBands Sell signal was given on 02/15/23 at 266.46 and price is now at 240.15 for 26 points. A Buy signal was given on Thursday at 240.05 and is still in effect with a Stop at 244.58.
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.
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 back 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 Weekly chart (closing at +75.64 Friday) was down -4.04 on the week and now gas at my pump is still at $5.20/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."
Price is caught in a tight Channel underneath the DMA. This would point to price continuing to move downward.
Price has been weak and has only been moving back and forth between the LOB and the DMA. 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 : 03/11/2023 06:07pm Symbol "@BTC", Bar Type = Weekly Last Close = +20,910 : the close Friday was at +20,910. Change from last Sunday (+/-) (+22,320) = -1,410 Purple or Gold on top? Gold UOB = +26,380 UIB = +24,441 MidLine = +21,293 MidAngle = 83.24 LIB = +18,145 LOB = +16,206 Above/Below 21-day MAV = 19740.71 - Above Above/Below 50-day MAV = 23417.90 - Below Above/Below 200-day MAV = 27230.55 - Below Color of DMA_H = Red All Time High = +69,690 Percent = -70.00% on 11/12/2021 69 bars ago.
BitCoin is going nowhere fast. It is pretty much just moving sideways.
Price is now, in the after-hours market, at 22,260 up 2,295 points.
We got a Sell signal on 02/21/23 at 24,695 to close the long trade, which was immediately followed by a Sell Signal at 24,680. That's a potential profit of 2,420 points.
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.
Ethereum
The stats for Ethereum are:
Created : 03/11/2023 06:37pm Symbol "ETHUSD", Bar Type = Weekly Last Close = +1,500.15 : the close Friday was at +1,500.15. Change from last Sunday (+/-) (+1,559.54) = -59.39 Purple or Gold on top? Purple UOB = +1,956.48 UIB = +1,817.56 MidLine = +1,569.44 MidAngle = -2.15 LIB = +1,321.32 LOB = +1,182.40 Above/Below 21-day MAV = 1420.96 - Above Above/Below 50-day MAV = 1664.07 - Below Above/Below 200-day MAV = 1428.49 - Above Color of DMA_H = Green All Time High = +4,867.81 Percent = -69.18% on 12/17/2021 64 bars ago.
In the after-hours market ETHUSD is up +170 points to 1,596.
The Weekly chart looks very congested, once again rolling along sideways with little to no progress.
I expected price to "stutter" at the DMA and in fact it dropped well below it, only to rebound. Price is now sitting on the DMA (on a gap), which is Flat. I'm expecting it to move up to the UIB or possibly the UOB and then drop back up to the DMA again.
Gold
The stats for Gold are:
Created : 03/11/2023 06:33pm Symbol "@GC", Bar Type = Weekly Last Close = +1,867.2 : the close Friday was at +1,867.2. Change from last Sunday (+/-) (+1,854.6) = +12.6 Purple or Gold on top? Gold UOB = +1,962.0 UIB = +1,919.2 MidLine = +1,846.2 MidAngle = 15.24 LIB = +1,773.3 LOB = +1,730.4 Above/Below 21-day MAV = 1830.21 - Above Above/Below 50-day MAV = 1837.54 - Above Above/Below 200-day MAV = 1825.30 - Above Color of DMA_H = Red All Time High = +2,174.0 Percent = -14.11% on 08/07/2020 135 bars ago.
Gold. Gold was strongly up for 14 weeks since the SunnyBands buy signal on 11/04/22 at 1708.10. And it neared that revered 2,000 price. That was then followed by a Sell signal on 01/26/23 at 1946.70 and now price is at 1,887 for a potential current profit of 59 points.
A SunnyBands Buy signal occurred on 02/27/23 at 1824.9, with price now at 1861.0. That's a few more points!
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Price is now right well above the Flat DMA and is possibly heading on up farther. Price could easily get up to the UOB which is at 1,962.0.
The next Attractor to the upside is at 2,108. The next Attractor on the downside is at 1,767.
Purple is still on top and price moved up this past week but is now stymied. Nevertheless, I'm still expection $2,000 gold this year.
Bonds
The stats for @US are:
Created : 03/11/2023 06:34pm Symbol "@US", Bar Type = Weekly Last Close = +126.00000 : the close Friday was at +126.00000. Change from last Sunday (+/-) (+124.87500) = +1.12500 Purple or Gold on top? Purple UOB = +134.96000 UIB = +132.46000 MidLine = +128.35000 MidAngle = -11.31 LIB = +124.24000 LOB = +121.74000 Above/Below 21-day MAV = 127.58 - Below Above/Below 50-day MAV = 133.43 - Below Above/Below 200-day MAV = 153.31 - Below Color of DMA_H = Purple All Time High = +184.62500 Percent = -31.75% on 03/13/2020 156 bars ago.
Bonds are up somewhat (+1.125) on the week.
Price 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. Then last week it gave another Buy signal on Friday at 124^28. We are now up to 128^23 for a potential profit of 4 points.
Last time I said: "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." And it got below the LIB but not quite to the LOB and then bounced.
Price is right now at 128^22 in the afterhours market, down 21/32nds.
Price is below all three MAVs. That's pretty Bearish.
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