Sunday March 19, 2023 VOLUME 7 ISSUE 12
ALL NEW! Announcing a NinjaTrader version of my Flagship indicator, SunnyBands! If you are interested, here's the link to a Limited Time Discount of this new version.
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.
>>FREE Live Demo REPLAY Posted. Learn how I use SunnyBands to trade.
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>>FREE Trial of Sunny's Most Powerful Indicators. Click Here. I can only take 20 per month.
If you are new to Sunny Side of the Street you might be unfamiliar with the rules I use to interpret my Indicators.
If that's the case, you can download the Indicator Manual Here.
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If you haven't already, Watch the Oct 18 Live Demo Replay Here. The LIVE DEMO was Tuesday Oct 18 at 10amPT. Learn how Sunny interprets her indicators. No sales pitches, only Education and Support. Whether you do have or do not yet have SunnyBands, PHW, or DynamicMAV, you will not want to miss this expose'.
And there is one of the Live Trading Room sessions available Here if you'd like to see how I trade.
Want to try them out? Click Here for a FREE Trial of Sunny's Indicators. I will personally walk you through Installation (Zoom) and explain to you EXACTLY how I use them in my day-to-day trading. I've been trading for 42 years and this is what I use Every Day. I don't hold anything back. The week of your Trial I will have 2 more Zoom calls with you during the Trial to walk you through trading them in the Live Markets.
"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
The defective PayPal button has been fixed. Just click above on Order Form and it will take you there.
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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.
I'm thinking about conducting a LIVE IN-PERSON 3-day Seminar in Los Angeles (near the airport for convenience) with Sam Tennis where you can learn Technical Analysis, Running your Trading Business, Trading AND EasyLanguage in this Intensive long-Weekend. Please let me know whether you might be interested HERE.
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 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.
Link to Sam Tennis' Products below. Link to Sunny's Products. NEW: Scan for bullish stocks.
Please take a look at my YouTube channel, (search for Sunny Harris on YouTube) subscribe, and give me ideas of what else you would like me to include. I'm ready to record more videos.
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.
The short-terrm average on this chart is out of sync with the other two overages having risen above the zero-line (only to fall back) while the other two remain flat beneath the zero-line.
The prediction for Monday calls for a high of 32,078 and a low of 31,618. That's a 460 point spread on the day and another significant down move.
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 only -47.66 on the week dropping through the LOB, bouncing back up, and touching th 50% Fib line. This movement keeps us out of the lengthy Channel we were in -- to the downside. The next Attractor below lies at 31,175 and is the 61.8% Fib line. 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 (31,862).
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 (with SVB's failure) we just might see that value hit soon.
Looking at the Weekly and Daily SunnyBands overlaid I ssee that price has now dropped beneath the Weekly DMA and the Daily DMA is heading down toward it. If they cross we have a lot farther down to go. If price breaks above the Weekly DMA it will head on up to the Daily DMA which lies at 32,727.
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 30,650.
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 123 points, to 32,861.
I think we will move next to the Fib Attractor at 31,175. 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 follow the action of the DOW, and is up +49.50 points on the week.
BUT it too is sitting right at the DMA annd Purple is on top telling me that more downside activity is ahead.
Expiration was Friday, which always brings position balancing and yielded the upward movement.
In the after-hours market the ES is up 15 points to 3,961.
Price is under the Purple DMA and is sitting right under it. 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 19 weeks. Price is just touching the DMA from underneath 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 turning down. The 15-min is Bearish turning up and the shorter term looks are Bullish.
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 & >million shares traded
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 141 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 would now be 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 34.90 for a potential profit of 3.72 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.
Price is below the Weekly DMA with Purple on top and it just ticked down to the LOB and moved slightly upward. This could be another Buy signal if tomorrow's price action confirms it.
Now let's consider this coffee company: SBUX (Starbucks).
The stats for SBUX are:
SBUX resumed its downward progression (-0.68) this past week and is now right at the Attractor I had mentioned at 99.80. Only this time it is "working it" from beneath. Price dropped to the Attractor and beyond last week and now is trying to make it back above.
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 : 03/18/2023 02:36pm Symbol "HUM", Bar Type = Daily Last Close = +495.55 : the close Friday was at +495.55. Change from last Sunday (+/-) (+479.66) = +15.89 Purple or Gold on top? Purple UOB = +518.49 UIB = +508.90 MidLine = +493.36 MidAngle = 2.72 LIB = +477.81 LOB = +468.22 Above/Below 21-day MAV = 496.34 - Below Above/Below 50-day MAV = 494.36 - Above Above/Below 200-day MAV = 496.69 - Below Color of DMA_H = Green All Time High = +571.30 Percent = -13.26% on 11/03/2022 91 bars ago.
The price of HUM is up +15.89 on the week.
On the Weekly chart HUM is moving "sharply sideways." We are stuck in a Pennant formation which was preceeded by another Pennant formation and both are restricting price movement to a very narrow range. Until price breaks above 514.18 or below 474.79 we don't have enough information to act.
AMZN
The stats for AMZN are:
Created : 03/18/2023 01:48pm Symbol "AMZN", Bar Type = Daily Last Close = +98.95 : the close Friday was at +98.95. Change from last Sunday (+/-) (+90.73) = +8.22 Purple or Gold on top? Purple UOB = +103.85 UIB = +100.98 MidLine = +96.50 MidAngle = 13.50 LIB = +92.03 LOB = +89.16 Above/Below 21-day MAV = 94.71 - Above Above/Below 50-day MAV = 96.49 - Above Above/Below 200-day MAV = 108.39 - Below Color of DMA_H = Green All Time High = +188.65 Percent = -47.55% on 07/13/2021 423 bars ago.
AMZN's downward progress has resumed with more sideways motion on the Weekly chart.
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 above the 21- and 50-day MAVs. Price is still below the critical 200-day MAV though. Yet on the Weekly chart price is below the 50- and 200-period MAVs and aabove the 21-period MAV. Price is below the Flat DMA on the Weekly chart and needs to attempt to best that level before any upward motion can resume.
On the Daily chart AMZN was moving sideways over the last few weeks and is now slowly progressing upward. Price is now above the DMA, yet moving downward toward it.
TSLA
The stats for TSLA are:
Created : 03/18/2023 02:48pm Symbol "TSLA", Bar Type = Daily Last Close = +180.13 : the close Friday was at +180.13. Change from last Sunday (+/-) (+173.44) = +6.69 Purple or Gold on top? Purple UOB = +208.35 UIB = +200.86 MidLine = +188.87 MidAngle = -8.39 LIB = +176.87 LOB = +169.38 Above/Below 21-day MAV = 191.65 - Below Above/Below 50-day MAV = 173.23 - Above Above/Below 200-day MAV = 218.00 - Below Color of DMA_H = Purple All Time High = +414.50 Percent = -56.54% on 11/04/2021 342 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 up on the week by +6.69 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." This week price progressed upward as far as the Flat DMA, with Purple on top. With the DMA flat and Purple on top we are not likely to have a lot of exciting upward movement until it passes above the DMA.
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. And it went to 174.47 for a potential profit of 33.84 points before the Buy signal came on 03/13/23 at 174.78. We are still in a Buy signal though price is sputtering as it tries to best the Flat DMA.
I'm not betting on it though. I have a feeling that the market will react to more bank failures negatively. One bank failure could lead to more. And then we've got a 2008 situation.
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.
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 : 03/18/2023 01:48pm Symbol "ARKK", Bar Type = Daily Last Close = +38.68 : the close Friday was at +38.68. Change from last Sunday (+/-) (+36.02) = +2.66 Purple or Gold on top? Purple UOB = +42.34 UIB = +41.02 MidLine = +38.98 MidAngle = 0.14 LIB = +36.94 LOB = +35.62 Above/Below 21-day MAV = 39.04 - Below Above/Below 50-day MAV = 38.58 - Above Above/Below 200-day MAV = 39.85 - Below Color of DMA_H = Green All Time High = +159.70 Percent = -75.78% on 02/16/2021 525 bars ago.
ARKK was recovering nicely, along with her largest holding: TSLA but both are now stuck beneath a Flat DMA. The Flat DMA is currently holding down further upside movement and Purple is on top. The DMA_H lines are very small showing that price could move in either direction and take the DMA back to Gold. 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 38.22. 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 Light Purple and is below the zero-line.
This week she added 116546 shares of TDOC and 364249 shares of CERS 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 : 03/18/2023 02:40pm Symbol "MSFT", Bar Type = Daily Last Close = +279.43 : the close Friday was at +279.43. Change from last Sunday (+/-) (+248.59) = +30.84 Purple or Gold on top? Gold UOB = +276.79 UIB = +270.72 MidLine = +260.57 MidAngle = 68.91 LIB = +250.42 LOB = +244.35 Above/Below 21-day MAV = 256.29 - Above Above/Below 50-day MAV = 251.31 - Above Above/Below 200-day MAV = 252.51 - Above Color of DMA_H = Gold All Time High = +349.67 Percent = -20.09% on 11/22/2021 330 bars ago.
MSFT (closing at 279.43 Friday, up +30.84 on the week) is Above all 3 MAVs now and recovering quite nicely. Price moved decisively above the Flat DMA and kept going.
However, I am now watching for a Sell signal to appear.
On the DMA_Histogram we have Gold on top and the Who's On Top indicator has remained Gold since January.
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 progressed downward until 03/02/23 at 251.11 for a potential profit of 15.35 per share. The Buy signal was then confirmed on 03/03/23 at 255.29 and is still in effect.
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. Price has exceeded the Regression Channel this month, but the past month there was some activity outside the Channel, and 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 +66.93 Friday) was down -9.92 on the week and now gas at my pump is now down to $4.59/gal.
On the Monthly cchart price has dropped beneath the Flat DMA and is heading for the LIB at
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 had been weak and only been moving back and forth between the LOB and the DMA. But now price has been dropping sharply and is touching the LOB and caught in a Pennant formation from which it must break to either side to show its next direction.
On the Weekly chart it looks like price will drop to the Attractor at 58.69.
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 : 03/18/2023 12:51pm Symbol "@BTC", Bar Type = Daily Last Close = +27,000 : the close Friday was at +27,000. Change from last Sunday (+/-) (+19,965) = +7,035 Purple or Gold on top? Purple UOB = +27,022 UIB = +25,607 MidLine = +23,415 MidAngle = 89.78 LIB = +21,224 LOB = +19,808 Above/Below 21-day MAV = 23580.95 - Above Above/Below 50-day MAV = 22563.10 - Above Above/Below 200-day MAV = 20675.08 - Above Color of DMA_H = Green All Time High = +69,690 Percent = -61.26% on 11/10/2021 338 bars ago.
BitCoin is moving up sharply, up +7,035 this past week, likely in response to bank failures.
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 : 03/18/2023 02:11pm Symbol "ETHUSD", Bar Type = Daily Last Close = +1,743.77 : the close Friday was at +1,743.77. Change from last Sunday (+/-) (+1,425.50) = +318.27 Purple or Gold on top? Purple UOB = +1,823.58 UIB = +1,735.16 MidLine = +1,598.22 MidAngle = 81.13 LIB = +1,461.29 LOB = +1,372.87 Above/Below 21-day MAV = 1617.59 - Above Above/Below 50-day MAV = 1585.01 - Above Above/Below 200-day MAV = 1430.60 - Above Color of DMA_H = Green All Time High = +4,867.81 Percent = -64.18% on 11/10/2021 352 bars ago.
The Daily chart shows progress to the upside. This pas week we moved from the LOB to the UOB in 2 moves. We are now caught in a Pennant formation and waiting to see which way it breaks out.
Purple is still on top even with upward movement but I expect that to change since the DMA_H is about to cross over the zero-line.
The UOB lies at 1849.47 and the UIB (where price is currently) is at 1,735.16. Price should hold this level if it's to go up farther. If it doesn't we might see a correction back down to the DMA.
Gold
The stats for Gold are:
Created : 03/18/2023 12:52pm Symbol "@GC", Bar Type = Daily Last Close = +1,973.5 : the close Friday was at +1,973.5. Change from last Sunday (+/-) (+1,867.2) = +106.3 Purple or Gold on top? Gold UOB = +1,967.1 UIB = +1,936.4 MidLine = +1,888.0 MidAngle = 83.54 LIB = +1,839.5 LOB = +1,808.8 Above/Below 21-day MAV = 1861.06 - Above Above/Below 50-day MAV = 1889.30 - Above Above/Below 200-day MAV = 1811.58 - Above Color of DMA_H = Gold All Time High = +2,202.9 Percent = -10.41% on 09/06/2011 2905 bars ago.
Gold. In the face of bank failures and buy outs Gold is up +106.3 points on the week to close Friday at 1,973.5.
A SunnyBands Buy signal occurred on 02/27/23 at 1824.9, with price now at 1973. That's a few more points!
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Price is now right well above the Gold DMA and is possibly heading on up farther. Price could easily get up to the 2,000 level now.
The next Attractor to the upside is at 2,108. The next Attractor on the downside is at 1,767.
Bonds
The stats for @US are:
Created : 03/18/2023 12:53pm Symbol "@US", Bar Type = Daily Last Close = +132.71875 : the close Friday was at +132.71875. Change from last Sunday (+/-) (+129.34375) = +3.37500 Purple or Gold on top? Gold UOB = +134.19528 UIB = +131.90917 MidLine = +128.27000 MidAngle = 17.09 LIB = +124.63083 LOB = +122.34472 Above/Below 21-day MAV = 126.92 - Above Above/Below 50-day MAV = 129.09 - Above Above/Below 200-day MAV = 131.79 - Above Color of DMA_H = Gold All Time High = +184.62500 Percent = -28.11% on 03/09/2020 762 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 132.71875 for a potential profit of 8 points.
Price is Above all three MAVs. That's pretty Bullish. This tells me that the market is pricing in lower interest rates, which is likely not to happen if the Fed keeps to its word.
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