Sunday May 21, 2023 VOLUME 7 ISSUE 20
ALL NEW! Announcing a NinjaTrader version of my Flagship indicators, SunnyBands AND NOW DMA_HISTOGRAM! Order Here.
ALL NEW Live Demo on Tuesday May 23rd at 10amPT / 1pmET. OOPS! Last time I forgot to Record, so we will do another one. Click Here to Register by Monday. No new registrations will be accepted after that. See the short presentation on how it works, followed by Live Trading.
Want to see a Quick Slide Set pdf of the SunnyBands Rules I use? Click Here and become a Free Member of MoneyMentor, or if you're already a Member, just Login.
NEW Podcasts Dropped: Markus Heitkoetter, Dan Passarelli, Ted Hearne, Larry Pesavento and Norm Winski. Great interviews with Sunny & Sam. Give 'em a listen! Coming Next: Steve Primo.
More Sunny Harris interviews: Podcasts with Alternative Investments, 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 Sunday June 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 May. 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.
>>FREE Replay of Live Trading Room (Trade Along with Sunny)
>>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.
Want to Learn EasyLanguage? Get YOUR copy of Murray Ruggiero's Using EasyLanguage 9.x HERE at half price before they are all gone. I only have 13 copies.
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
If you Registered for the EasyLanguage Forum and would like to view the Slides and Video, use your email and password to Login. If you forgot your password, just shoot me an email.
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 the convenience of all) with Sam Tennis where you can learn Technical Analysis, Running your Trading Business, Compounding Your Profits, Trading Techniques that Work, AND EasyLanguage in this Intensive 3-day 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!" and "Trading 101", "Trading 102", "Electronic Day Trading 101", "Getting Started in Trading". 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 Markus Heitkoetter. Dan Passarelli, Ted Hearne. Larry Pesavento and Norm Winski before that and 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 3 VP Moving Averages are a bit in disagreement today. The short-term average is turning downward and the other two are heading upward for the zero-line. Yet, the down-sloping trendline on the MAVs has been broken. This tells me that the MAVs are likely to move on upward. Along with that I would expect prices to move upward as well.
The prediction for Monday calls for a high of 33,519 and a low of 33,247. That's a 272 point spread on the day with the day being Downward from Friday's close.
The overhead Attractors on this chart have been approached in a test, but were not broken to the upside. This has led to further down moves.
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. In fact, Glenn has announced that we are starting a New Bull Market.
Glenn is considering removing these predictions from Sunny Side of the Street. If you find them valuable and want him to continue to supply them to us, please Comment here so I can let him know. Or better yet, please send him an email letting him know.
Here is the Weekly 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 up +125.81 on the week which was slightly up, right to the DMA MidLine which is at 33,470.60. Price is lingering right at the Flat DMA with Gold on top, which as you know means "Caution."
There is also a weaker though important Attractor at 34,101, which emanates from the highs on 4/14/23 to 4/18/23.
Gold is still on top and though the DMA is Flat I think there is more room on the downside now. It may continue to retrace in a corrective wave, but I think ultimately we are going up.
Counter to that analysis, the Weekly SunnyBands' DMA is Flat with Gold on top.
On the Weekly chart, we have done nothing but move sideways since last July. Something needs to happen. We can't move sideways forever. There is an Attractor above at 34,633 and one below at 30,000. Who knows?
In the after-hours market the YM is down 38 points, to 33,456.
With the DMA Flat there is no current signal, either buy or sell. This is a real indecision point.
The Weekly Dow chart shows we will remain in this sideways channel until we break out of 34,180 or below 33,006.
Keep in mind that markets never go straight up or straight down. They always move in fits and starts.
The Podcasts of Markus Heitkoetter, Dan Passarelli, Ted Hearne, Larry Pesavento, Norm Winski, Greg Morris, Linda Bradford Raschke, Anka Metcalf and Robert Colby are now posted, Enjoy these great interviews. Steve Primo coming Next!
S&P 500
The ES is down slightly in the after-hours market, -2.75 points, after having been up +60.25 points on the week.
The ES is heading upward faster than the Dow now. The overhead Attractor on the ES lies at 4,245.57 which is proportionally higher than the Attractor on the Dow. Nevertheless, the Weekly ES is above the Purple DMA yet below the UIB. I'm guessing that the ES will dip down to touch the DMA and bounce up from there. A Flat DMA means Caution.
Price on the Daily Chart is above the DMA and on Wednesday touched the UOB only to drop into a SunnyBands Sell signal on Thursday. Price action on Friday confirmed the signal by going lower than the body of Thursday's candle. With that I would expect the Daily chart to dip down to the DMA at 4,148.
Earnings Reports continue this week with some important stocks reporting.
REPORTS THIS WEEK: UBER, PFE, BP, STNG, LNG, MPC... and more.
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 shorter time frames are turning up while the Daily and Monthly are turning down. BUT, the Weekly chart is strongly Bullish.
RadarScreen of Stocks
Here again, back by popular demand, is my RadarScreen of S&P 500 Stocks:
The RadarScreen shown here is sorted by PHW total and presents the "most tradable" stocks on the top. i.e., those with the most swings and trading opportunities. Note that NVR and BKNG are on the top. Searching through this list could prove valuable for those hunting for the right symbols to trade.
In the DMA column you can see that most of the symbols are very mixed. Lots of all colors. This is indicative of a sideways market with no one willing to stick their neck out and choose a direction.
Stock Scan for those Above all 3 MAVs & >million shares traded
This Scan includes a condition that symbols must have >= 1,000,000 volume as well as being above all 3 MAVs. That narrows the search down quite a bit. And now there are 162 stocks that meet the conditions against last week's 128. Lots of opportunity here. You could now check out these symbols against the RadarScreen figure above to see which of these has the highest PHW for trading.
Stocks
Created : 05/19/2023 02:20pm Symbol "@ES", Bar Type = Daily Last Close = +4,198.25 : the close Friday was at +4,198.25. Change from last Sunday (+/-) (+4,138.00) = +60.25 Purple or Gold on top? Gold UOB = +4,224.16 UIB = +4,189.07 MidLine = +4,131.50 MidAngle = 78.24 LIB = +4,073.94 LOB = +4,038.85 Above/Below 21-day MAV = 4145.67 - Above Above/Below 50-day MAV = 4102.02 - Above Above/Below 200-day MAV = 4031.67 - Above Color of DMA_H = Gold All Time High = +4,884.25 Percent = -14.05% on 01/04/2022 346 bars ago.
META gave a SunnyBands BUY signal on 11/08/22 and only this past week quit. It was up 143.85 points from the Entry Price of 96.47 to its pre-signal price of 240.32. Pretty dramatic!
We were on a SunnyBands SELL signal for 7 trading days, but so far it is going nowhere. Price is fighting the Attractor at 237.24 and can't seem to get through it yet. We exited this trade when price went above the entry bar and are now Long.
Price is above all 3 MAVs which is still Bullish as it continues on upward.
The Weekly chart is more revealing, as the extended upward move just shows that we are back up to the Attractor at 237.24, and just beyond it at 245.64. Looking back at the sharp drop on 02/04/22 we see that there is a lot of room left to the recovery. At this point it looks like price could just keep going straight up, but in all liklihood it will retrace a bit.
KDP: Keuring Dr. Pepper
Last time I said: "KDP, on the Monthly chart, has given a clear Sell signal in a faltering market. We are sitting right on the Flat DMA, which is always scary. It could easily turn on downward for more of a correction" and not only did it correct but it dropped to 31.78 after a gap down.
This week KDP is down to 31.83 having ticked up a bit and fallen back down.
Price on KDP just looks like it will continue on down to 30.99 (which is the LIB on the Monthly Chart) or on down to the LOB at 28.81.
Now let's consider this coffee company: SBUX (Starbucks).
The stats for SBUX are:
SBUX, sharply sideways on the Daily chart, is sitting firmly on the LOB and going nowhere fast.
On the Weekly chart price moved up to the UOB and turned around, giving a Sell signal. It is now right at the 21-period MAV and heading on down to the Flat DMA at 102.93. A move down to the Flat DMA could mean a bounce as we had from 03/17/23 to 03/24/23, which resulted in a sizable bounce.
Paying attention to these SunnyBands signals keeps me profitable. If you haven't already, maybe you'd like to get a FREE 7-day Trial for yourself.
HUM
HUM is Down by -13.83 this week. It is no longer playing with the UIB, and has dropped, this past week and a half, below the DMA and has even touched the LIB (on Thursday). Price, on Friday, bounced back up somewhat and the wick even touched the DMA.
Price is below the 21-day MAV but above the 50- and 200-day MAVs.
I am expecting price to drop on down to the LOB which will put it below the 200-day MAV.
On the Weekly chart price is simply moving sideways with it above (but heading back to) the Flat DMA at 503.45.
There is a Strong Attractor overhead at 558.06 and one below at 476.44. Price is moving on a slight up-slope but is currently weak.
Last time I said: "At the least it should touch the DMA (at 520) this week." And it did exactly that.
The stats for HUM are:
Created : 05/19/2023 02:25pm Symbol "HUM", Bar Type = Weekly Last Close = +513.52 : the close Friday was at +513.52. Change from last Sunday (+/-) (+527.35) = -13.83 Purple or Gold on top? Gold UOB = +560.06 UIB = +538.24 MidLine = +504.06 MidAngle = 22.29 LIB = +469.88 LOB = +448.06 Above/Below 21-day MAV = 503.45 - Above Above/Below 50-day MAV = 500.86 - Above Above/Below 200-day MAV = 419.91 - Above Color of DMA_H = Gold All Time High = +571.30 Percent = -10.11% on 11/04/2022 28 bars ago.
AMZN
The stats for AMZN are:
Created : 05/19/2023 02:23pm Symbol "AMZN", Bar Type = Daily Last Close = +116.25 : the close Friday was at +116.25. Change from last Sunday (+/-) (+110.26) = +5.99 Purple or Gold on top? Gold UOB = +115.80 UIB = +113.40 MidLine = +109.07 MidAngle = 47.92 LIB = +104.74 LOB = +102.34 Above/Below 21-day MAV = 108.31 - Above Above/Below 50-day MAV = 103.40 - Above Above/Below 200-day MAV = 105.77 - Above Color of DMA_H = Gold All Time High = +188.65 Percent = -38.38% on 07/13/2021 467 bars ago.
Price was up another +5.99 on the week, with price well above the UOB. It has been "up, up and away".
Last time I said "I'm guessing it will bounce back and test the UOB again this week." Which it did.
The overhead Attractor was broken and then the 38.2% Fibonacci extension line was also broken.
There was a serious Attractor which was overhead at 114.42 which was calling to price (as I said last time) and this week it was broken to the upside.
On the Weekly chart AMZN is above the DMA and Gold is now top. The DMA was seriously Flat, but now it has turned upward and price is following along. The next overhead Attractor lies at 127.39, just about 10 points overhead.
TSLA
The stats for TSLA are:
Created : 05/19/2023 05:50pm Symbol "TSLA", Bar Type = Weekly Last Close = +180.14 : the close Friday was at +180.14. Change from last Sunday (+/-) (+167.98) = +12.16 Purple or Gold on top? Purple UOB = +223.31 UIB = +207.96 MidLine = +180.76 MidAngle = -12.00 LIB = +153.56 LOB = +138.21 Above/Below 21-day MAV = 172.80 - Above Above/Below 50-day MAV = 209.65 - Below Above/Below 200-day MAV = 180.78 - Below Color of DMA_H = Green All Time High = +414.50 Percent = -56.54% on 11/05/2021 80 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 +12.16 points and went nicely above what was then a Flat DMA and now is pointing upward (though Purple is still on top). We are still in a SunnyBands BUY signal from 04/27/23 at 164.31 and now price is 16 points beyond, at 180.14.
Last time I said: "Now we are looking at a Buy signal from 04/28/23 at 164.31. Price is now at 167.20 for a potential profit of nearly 3 points per share. Since it passed above the DMA, I'm expecting a bit more action to the upside." And now that potential profit is 16 points.
I'm thinking price will continue on up to the UOB at 186.16.
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 down to $4.60/gal in my neighborhood. When I drove up to Santa Monica 2 weeks ago for a conference (a 1.75hr drive that took 4 hours) I counted 73 Teslas on the road.
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 : 05/19/2023 02:23pm Symbol "ARKK", Bar Type = Daily Last Close = +38.70 : the close Friday was at +38.70. Change from last Sunday (+/-) (+37.68) = +1.02 Purple or Gold on top? Purple UOB = +39.86 UIB = +38.98 MidLine = +37.63 MidAngle = 3.43 LIB = +36.28 LOB = +35.40 Above/Below 21-day MAV = 37.14 - Above Above/Below 50-day MAV = 37.88 - Above Above/Below 200-day MAV = 38.57 - Above Color of DMA_H = Green All Time High = +159.70 Percent = -75.77% on 02/16/2021 569 bars ago.
ARKK follows TSLA, her main holding. TSLA was up this week and so is ARKK, by +1.02 points.
ARKK is now beyond to the Flat DMA and will continue to move according to TSLA's moves.
I have twice offered Cathie Wood FREE use of SunnyBands for stock selection and timing. No answer. I really want to see this powerful woman succeed. IF any of you have a connection, please let me know. Comments.
On the Daily, 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. This ETF is neither an investment nor a tradable at this point. The moves are too narrow and unpredictable.
Who's On Top at the bottom of the chart is now Light Purple and is below the zero-line with Green bars on the histogram. BUT, the Green lines are almost ready to cross the zero-line and turn Gold, which would bring more upward action.
This week she added nothing 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 in a slow downtrend that is never-ending.
MSFT
Created : 05/19/2023 02:27pm Symbol "MSFT", Bar Type = Weekly Last Close = +318.34 : the close Friday was at +318.34. Change from last Sunday (+/-) (+308.97) = +9.37 Purple or Gold on top? Gold UOB = +314.35 UIB = +303.87 MidLine = +285.50 MidAngle = 76.50 LIB = +267.14 LOB = +256.66 Above/Below 21-day MAV = 270.57 - Above Above/Below 50-day MAV = 260.45 - Above Above/Below 200-day MAV = 236.57 - Above Color of DMA_H = Gold All Time High = +349.67 Percent = -8.96% on 11/26/2021 77 bars ago.
MSFT (closing at +318.34 Friday, up +9.37 on the week) is Above all 3 MAVs now and recovering quite nicely. Price moved decisively above the Flat DMA and keeps on going.
In fact, price is now above the UOB and the DMA Histogram (DMA_H) is showing solid Gold, showing me that there is still more room on the upside.
Now the DMA is moving strongly upward and although price spent the week before last going sideways, this past week has moved sharply upward.
On the Weekly chart we are right at the 76.4% extension from the low of 11/04/22. This could cause a bit of stumbling this next week or so, but I'm still thinking that MSFT has more room on the upside.
On the Monthly chart one can see that we have now definitely passed the Attractor at 292.64, which is a strong sign, and are heading past the DMA (which has been Flat) to the UIB at 325.46.
Price is now at 318.34 (at the 76.4% Fib line) and is below the LIB which lies at 326.98. That, at the least, should be the next move.
On the Weekly chart price is now above the UOB and at the same Fib line. This could cause some stumbling for the next few days, but I still think it will have more movement to the upside.
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. EDITOR'S NOTE: Brian is now up over $100,000! Five months later.
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) continues to move downward. On both the Daily and the Weekly charts price is in a significant down move.
Price is now at 71.25. A low not considered possible only months ago when price was at 118.93 and years ago at 200.0.
On the Monthly chart price is now below the Flat DMA (which has been Flat for months). Gold is on top, but the histogram bars are Red, suggesting more downward movement is possible.
Back to the Daily chart, price is below all 3 MAVs and beneath the downsloping DMA. This too suggests the possibility of more downside action. The SunnyBands Sell signal from 04/14/23 is still in effect and doing well.
Price has been weak and only been moving back and forth between the LOB and the DMA. Last week I said: "The bottom of the Pennant formation is at 74.12. I'm expecting price to fall below that level." And It Did! Now, it is even farther down and sitting right at the LIB. It could easily move back on down to the LOB in a 5th wave down.
On the Weekly chart price is continuing to move downward below the Purple DMA. We have touched the LOB several times and even tried to penetrate the DMA and failed.
Last week I said: "I think price will stabilize around 70.24." And it has. That's pretty much where we are now.
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 : 05/19/2023 02:19pm Symbol "@BTC", Bar Type = Daily Last Close = +26,865 : the close Friday was at +26,865. Change from last Sunday (+/-) (+26,485) = +380 Purple or Gold on top? Purple UOB = +30,103 UIB = +29,300 MidLine = +28,032 MidAngle = -88.78 LIB = +26,764 LOB = +25,960 Above/Below 21-day MAV = 27912.62 - Below Above/Below 50-day MAV = 28193.30 - Below Above/Below 200-day MAV = 22302.35 - Above Color of DMA_H = Purple All Time High = +70,115 Percent = -61.68% on 11/10/2021 383 bars ago.
BitCoin is no longer moving upward and is correcting back down to the LOB. We got a SunnyBands SELL signal on 04/19/23 from 30,267 and now price is at 26.660 in the afterhours market, down 225 points.
Two weeks ago California announced that yet another bank has failed and the Fed announced it will take over. I don't think the bank failures are over. And, as bank failures appear there is a high-liklihood of a flight to crypto currencies. Nevertheless, at the moment it is moving downward.
We got a Buy signal on 03/13/23 at 24,625 followed by a Sell signal on 04/19/23 at 29,470 for a potential profit of nearly 2,800 points.
The DMA is Flat with Purple on top which tells me price is likely to move on down for a bit. I'm expecting it to hit the LOB at 25,925.
The only ovehead Attractor is now the DMA itself, at 28,069. The Attractor below is the LOB.
In our Podcast interview with Ted Hearne last time, he pointed out that the stock market is going down and Bitcoin is going sideways. He believes that shows strength in BitCoin. Markus Heitkoeter's podcast will be posted next week.
Ethereum
The stats for Ethereum are:
Created : 05/19/2023 02:24pm Symbol "ETHUSD", Bar Type = Daily Last Close = +1,812.84 : the close Friday was at +1,812.84. Change from last Sunday (+/-) (+1,787.33) = +25.51 Purple or Gold on top? Gold UOB = +1,992.36 UIB = +1,945.45 MidLine = +1,873.45 MidAngle = -66.64 LIB = +1,801.45 LOB = +1,754.54 Above/Below 21-day MAV = 1850.17 - Below Above/Below 50-day MAV = 1845.12 - Below Above/Below 200-day MAV = 1541.70 - Above Color of DMA_H = Red All Time High = +4,867.81 Percent = -62.76% on 11/10/2021 397 bars ago.
In the after-hours market ETHUSD is down 11.33 points to 1,801.72.
The Daily chart shows that ETHUSD is not moving as sharply down as BTC. Nevertheless, we are in a potential Head & Shoulders pattern that could resolve in a 200 point down move.
The Fibonacci retracements show price is no longer above the 23.6% line. If price moves above that this week we can expect more movement to the upside, but I'm thinking we will move on down to the 38.2% retracement line which is also where the LOB lies..
Gold
The stats for Gold are:
Created : 05/19/2023 02:21pm Symbol "@GC", Bar Type = Daily Last Close = +1,979.9 : the close Friday was at +1,979.9. Change from last Sunday (+/-) (+2,019.8) = -39.9 Purple or Gold on top? Gold UOB = +2,049.2 UIB = +2,028.4 MidLine = +1,997.1 MidAngle = -67.63 LIB = +1,965.8 LOB = +1,945.0 Above/Below 21-day MAV = 2010.27 - Below Above/Below 50-day MAV = 1999.58 - Below Above/Below 200-day MAV = 1862.99 - Above Color of DMA_H = Red All Time High = +2,219.8 Percent = -10.81% on 09/06/2011 2949 bars ago.
Gold. In the face of bank failures and buy outs Gold passed above the magical 2,000 level over five weeks ago. The UOB is now at 2,045 and price has been pushing up against that level. But his past week it has moved back off the UOB and UIB to the DMA (Flat) and below and is right now below the DMA (Flat) and is moving on down to the LOB, which lies at 1,947.
We got a SunnyBands Sell signal on 05/05/23 at 2,024 which has potentially made 45 points on the short side. There is a possible Buy signal at current price but has not yet been confirmed by price action.
On the Monthly chart we are just in a sideways channel with price right at the UIB with it sitting on the Attractor at 1,980 and the next Attractor above is at 2,108. The Attractor below is the DMA which is at 1,884.
As I said earlier, it has been reported that the Central Banks are now buying gold and that should elevate price in the coming weeks.
Bonds
The stats for @US are:
Created : 05/19/2023 02:21pm Symbol "@US", Bar Type = Daily Last Close = +127.37500 : the close Friday was at +127.37500. Change from last Sunday (+/-) (+130.71875) = -3.34375 Purple or Gold on top? Purple UOB = +132.69361 UIB = +131.62417 MidLine = +129.97500 MidAngle = -12.68 LIB = +128.32583 LOB = +127.25639 Above/Below 21-day MAV = 130.40 - Below Above/Below 50-day MAV = 130.97 - Below Above/Below 200-day MAV = 129.97 - Below Color of DMA_H = Purple All Time High = +184.62500 Percent = -31.01% on 03/09/2020 807 bars ago.
Bonds are down (-3.34375) on the week.
On the Daily chart we spent the week moving downward, below the DMA and on down below the LIB to the LOB. Bonds are currently at 127^20, up 15.32 in the after-hours market.
There is a strong Attractor at 126^08 which is right below current price. I'm thinking we will go on down to that level this week.
O the Monthly chart the US is right at a very strong Attractor at 127^20.. Until and unless it moves beyond this level we are still looking a lower prices.
Back to the Daily chart: Price is slightly up (+15/32) in the after-hours market with Bonds moving down toward the lower Attractor at 126^12.
Last weekk I said: "I think it's getting ready to move to Purple, taking price farther down.""
The announcements this week are likely to make Bonds move -- one way or the other. And the stock market will move as well.
Is there any reason to doubt what the Fed has been telling us all along? Their policy is to lower inflation until it is lower than the interest rate. The market keeps hoping for lower rates and then tanks when it doesn't come. I believe they will stick to their policy until inflation subsides and we have lower employment.
On the Monthly chart price is well below the DMA with Purple on top, but it is moving somewhat sideways. The congest above current price leads me to believe that we are still in for lower prices.
If You Got this Free Newsletter from someone else and would like to Opt-In, and join us, click here.
Products
All subscribers to my Sunny Side of the Street newsletter are eligible for an automatic 10% discount on any of my products. Call if you are interested. 1-760-908-3070 PT
If you want a yet better price, buy Sunny's indicators by the Bundle. Up to 30% off! This offer is only good until 03/31/23. Don't Miss Out. This offer won't show up again for a long, long time. Sorry, it's over now.
Consulting/Mentoring - There is nothing that makes me happier than my students turning into great, profitable traders. I love to help new traders, and intermediate traders who are in a slump.
Correspondence Course: "Solving the Puzzle." 20 lessons and live sessions with Sunny for each lesson. Learn all you need to get started in trading.
SunnyBands - SunnyBands are a extension of my DMA. The two lines above and two lines below the purple and gold DMA alert me to where the market is going. They are constructed from ATR bands on either side of the DMA. With them I am alerted to Exact Entries and Exits.
DMA_H - Sunny"s DynamicMovingAverage in Histogram format, using sophisticated math to smooth out the whipsaws.
Of course, my indicators work on any symbol, any time frame. In my own trading I use 1-min & 5-min charts of the ES.
Custom Programming - Need help with an idea you want tested with EasyLanguage? I'm the one to do it for you. Fast and inexpensive.
If you aren't already a MoneyMentor Member, please consider joining here. Tell me what you trade and what you'd like to see me add to this newsletter.
Sam Tennis' Products
If you would like to be included in Sam's totally educational "It's the Weekend!" newsletter, shoot him an email and say I sent you. It's a lot of fun.
Real-Time Profit/Loss Viewer
ORDER NOW
Scroll the Chart
SCROLL THE CHART DOCKED
Data Report Pro & SPGC Report Pro
Archives
2023 Vol 7:
2022 Vol 6:
2021 Vol 5:
I always welcome comments at sunny@moneymentor.com.
Click to unsubscribe. I'll be sad to see you go, but I will remove you permanently from my subscribers list.
Sunny has been teaching others to trade almost as long as she has been trading. Helping struggling novices over the hurdles is a passion of hers. Sunny has won awards for her teaching and consulting, being #1 in several categories. Sunny can teach you how to use TradeStation & MultiCharts and EasyLanguage and PowerLanguage, TC2000, VantagePoint, NinjaTrader, Genesis Navigator, and MetaStock so you don’t spend months struggling on your own. If you have a concept you want programmed, she can do it for you or teach you how to do it yourself. Click Here.
We provide a wide range of software programmed by Sunny for her own trading. We are not a churn and burn shop that puts out lots of indicators for sale, just to have products to sell.
Each of these unique products is available to help others in their quest for profits. And, they are used by Sunny in her own daily trading. The software includes indicators that make trading smooth and easy, and strategies that can even be au
tomated to provide hands-off trading. Click here for a full list, descriptions, charts and prices.
