Sunday September 10, 2023 VOLUME 7 ISSUE 35
AMZN | ARKK | BTC | DOW | CL | ES | ETHUSD | GC | HUM | KDP | META | MSFT | SBUX | TSLA | US
The Definitive Guide to TradeStation's EasyLanguage & OOEL Programming--Vol I: Programming Guide NOW AVAILABLE on Amazon.com. Be among the first 100 to order (and please Review) and I'll send you my favorite TradeStation/MultiCharts/Traders WorkStation ancillary indicators, for FREE. Just Fax (760-903-2260) or go to www.easylanguageooel.com, register as a Free Member and I'll send your indicators right away! AND, you can DOWNLOAD the code from the books there! Vol II is available NOW!
One of my clients wanted me to show buy & sell arrows where SunnyBands signals appear. I have been putting Vertical Lines on each chart to show the Signal. In this and subsequent issues I am continuing to draw the Vertical Lines, but now the Buy Signals are Blue lines and the Sell Signals are Red lines. I hope that helps.
Sorry, but the vertical lines aren't there this week. TS Crashed and I have to draw them all in again by next week.
ALL NEW! Announcing a NinjaTrader version of my Flagship indicators, SunnyBands AND NOW DMA_HISTOGRAM! Order Here. OR, request a Free 7-day Trial with FREE Personal Orientation & Instruction with Sunny!
"When pursuing prosperity you must follow the laws of Heaven. Don't be afraid to be kind and charitable." - Hok Yat Louie (Brandt Louie's grandfather)
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: Jake Bernstein, Arch Crawford, Henry Weingarten, Robert Pardo, Sherman & Tom McClellan, Stan Ehrlich, Steven Primo, Carolyn Boroden, Markus Heitkoetter, Dan Passarelli, Ted Hearne, Larry Pesavento and Norm Winski. Great interviews with Sunny & Sam. Give 'em a listen! Coming Next: Howard Getson.
More Sunny Harris interviews: Podcasts with The Matt Kohrs Show, Moon Dev, AlphaCast, Macro Jabber, 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.
HAPPY HALF HOUR! On Wednesday October 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 September. 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 trials 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. Or you can see the 9 slides for a quick presentation of SunnyBands rules.
If you haven't already, Watch the Live Demo Replay Here. 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 another Zoom call 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.
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 offering EasyLanguage Mentoring Sessions. If you are interested, please fill out this little form.
WARNING: Read this to get an idea of what can become of our future.
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", and "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 (Samuel K. Tennis is a master EasyLanguage programmer & former lead programmer developing TradeStation and EZL) have been friends for more than 30 years and are partners in writing our new "The Definitive Guide to TradeStation's EasyLanguage & OOEL Programming" Volume I, the Programming Guide, and Volume II, the Reference Guide. AND, they are in full color!
Vol I: Programming Guide NOW AVAILABLE on Amazon.com. Be among the first 100 to order (and please review) and I'll send you my favorite TradeStation/MultiCharts/Traders WorkStation ancillary indicator, for FREE. Just Fax (760-903-2260) or email me a copy of your proof of purchase and I'll send your indicators right away! Both Volumes are NOW AVAILABLE on Amazon.com.
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 Jake Bernstein, Arch Crawford, Henry Weingarten, Robert Pardo. Sherman & Tom McClellan, Stan Ehrlich. Steven Primo, Carolyn Boroden, Markus Heitkoetter. Dan Passarelli, Ted Hearne. Larry Pesavento and Norm Winski were 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 them 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 will include Howard Getson, Cynthia Kase. 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, (or 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 presentation.
The VantagePoint prediction for tomorrow is for an outside day with a higher high and lower low. The predicted high is 34,702 and the low is 34,477. That's a range of over 224 points on the day.
Two of the moving averages are below the zero-line with only the long-term flat but barely above zero.
Moving up on Monday will probably take the short-term MAV back upward, while a move down would signal more correction coming.
On the SunnyBands of the Dow price dipped under the Flat DMA and then bounced off the LIB heading back up toward the DMA. Chances are Monday or Tuesday will take price back to the DMA and then it's watch and wait to see whether it breaks through.
Glenn Neely's Market Prediction
Glenn Neely has graciously granted us continued access to his weekly predictions! 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 S&P 500 chart is a Weekly view so you can see longer term predictions. Click on the link to http://www.NEoWave.com visit his website.
Notice that he is calling for slightly higher moves to come.
Here is the Weekly NEoWave projection of S&P 500. He posts it on Monday afternoons, so it will be updated then. Come back and re-load (CTRL-R or F5) to see it.
http://www.NEoWave.com
SunnyBands Implications
Dow Jones
The stats for the Dow are:
The Dow was down by -261.1 on the week as it dipped below the Flat DMA (Purple on top) and inched to the LIB, where it bounced. Monday or Tuesday could bring a new test of the DMA. It could easily be repelled there, but the DMA_H is showing Green, which tells me there is the possibility of further up movement.
The DMA_Histogram is under the zero-line, letting us know that Purple is on top on the DMA, and it is now showing Green, meaning that it is watching for a move upward.
We got a SunnyBands Buy signal on 08/28/23 that was confirmed at 34,559. It was closed at the Flat DMA at 34,719 for 160 points. Right after that price dipped below the DMA for a short scalp from 34,641 to the LIB at 34,550.
Price is below the 21- and 55-day MAVs and only above the 200-day MAV. That's not Bullish. But it is also not necessarily Bearish. The moving averages are often tested and that's what I think will happen this week.
Last time I said I thought we'd have a 4th wave correction (which we have probably had) with a 5th wave up. That part hasn't happened yet, but I'm still anticipating it.
In a Facebook post this week I stated that current market activity is looking suspiciously like the early fall of 1987. We have a parabolic move up followed by a steep correction and the subsequent new highs have not exceeded the high of January 2022. Here's what that looks like on a monthly chart:
If that's true and what happens, then we will likely move on up again in a test, but will fail and move downward. Now, mind you, I'm not saying I'm forecasting a Crash. I'm simply being aware of my surroundings and am ready for whatever comes.
On the Weekly chart, price is below the UIB, with it sitting right on the 21-period MAV. If it bounces off that MAV it's a show of strength and will likely move up to the UOB, at 35,289. If it continues downward movement we are likely to dip to the DMA, which is currently at 33,720. That would be another 850 or so points down.
Looking again at the Daily chart, price sits now at 34,576. Last time I said: "If it breaks down througn the DMA, and if the DMA turns Purple, we are in for more downside action. Probably to the LOB at 34,367. It dropped to a low of 34,291 before bouncing. That's a pretty good call!
Prognosis is difficult at this juncture. In all likelihood it will test the DMA a bit more and then bounce upward, if I had to guess.
Thanks to the mind of Sam Tennis I have a set of beautiful indicators that draw trendlines from the pivot High (all time high, HH) to current price and one that goes from the pivot low (LL) to current price. You can see these on this chart.
The HH indicator shows we are up 20.64% from the low (which is a Bull Market signal) and down -6.43% from the all-time high. A recovery is in the making.
Note that I have a Baby Bull at the top of this newsletter. I'm not confident we are really in a Bull Market yet, so it will stay a baby until the Bull proves itself.
Keep in mind that markets never go straight up or straight down. They always move in fits and starts. And this one is not yet (on the Weekly chart) above the sideways channel. On the Daily chart we are still in the lower half of the channel. The all-time high was on 01/14/22 at 36,513 and we look to be heading there, though very slowly.
The Podcasts of Jake Bernstein, Arch Crawford, Henry Weingarten, Robert Pardo, Sherman & Tom McClellan, Stan Ehrlich, Steven Primo, Carolyn Boroden, Markus Heitkoetter, Dan Passarelli, Ted Hearne, Larry Pesavento, Norm Winski, Greg Morris, Larry Williams, Linda Bradford Raschke, Anka Metcalf and Robert Colby are now posted. Enjoy these great interviews. Howard Getson coming Next!
S&P 500
The ES was solidly down -59.75 points on the week, though most of it was accumulated on Monday and Tuesday.
Price is also above all 3 MAVs now. This speaks to more upward movement, possibly continuing this week.
We are above the Purple DMA with the DMA_H showing Green and moving up toward the zero-line. If this continues it will cross the zero-line into Gold territory and continue the move upward.
The current SunnyBands signal is a Buy from 08/23/23 at 4,447 and with current price at 4,519 that's 72 points of potential profit.
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.
Note that there is a new column in this figure: Bars Ago. A client of mine asked for this extension, and here it is. This tells how many bars it has been since the Direction reversed.
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.
Notice the new column, in black. At a client's request I added "Bars Ago" to show how many bars ago the Direction flipped.
RadarScreen of Stocks
Here again, back by popular demand, is my RadarScreen of S&P 500 Stocks:
The RadarScreen shown here is sorted by Moving Averages. Notice the Green in the MovAvg columns. You'll see that there are plenty of stocks now showing Bullish moving upward. For your own look at this RadarScreen, order the DMA_H_R from my order form.
Stock Scan for those Above all 3 MAVs & >1 million shares traded
This Scan includes a condition that symbols must have >= 1,000,000 volume as well as being above all 3 MAVs, as well as Price being between 20 and 200. That narrows the search down quite a bit. And now there are 50stocks that meet the conditions this week, another decrease over last week . There are still several opportunities here, nevertheless. 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 : 09/09/2023 02:04pm Symbol "META", Bar Type = Daily Last Close = +297.89 : the close Friday was at +297.89. Change from last Sunday (+/-) (+296.38) = +1.51 Purple or Gold on top? Purple UOB = +316.07 UIB = +309.68 MidLine = +298.78 MidAngle = 0.29 LIB = +287.88 LOB = +281.49 Above/Below 21-day MAV = 294.94 - Above Above/Below 50-day MAV = 300.41 - Below Above/Below 200-day MAV = 217.84 - Above Color of DMA_H = Green All Time High = +383.79 Percent = -22.38% on 06/27/2022 302 bars ago.
META gave a SunnyBands BUY signal on 11/08/22 at 112.05 (vertical line on the chart) and exited at 301.19 for a potential profit of over 189 points per share. Then there was (as of 07/31/23) a SunnyBands Sell signal which was confirmed on 08/02/23 at 313 and closed on 08/21/23 at 289.90 for 23 points profit. Now we are again in a Buy signal from 289.90 and are up to 298 for a potential profit of just over 8 points.
Price is now at a conjunction of the 55- and 21-day MAVs. Price has been following the Flat DMA all week with hardly any progress.
Once we get through this period of congestion and correction, and rise over the Flat DMA, it looks like we are going on up to the Attractor at 338.
KDP: Keuring Dr. Pepper
This week, on the Daily chart, the price of KDP moved down slightly: -0.19 points, sitting right on, but below, the Flat DMA all week.
A SunnyBands Sell signal occurred on 08/03/23 and was confirmed on 08/04/23 at 33.61. Price is now at 33.36 for a small profit. It is below the 200-day MAV and below the 21-day MAV though still above the 55-day MAV indicating the possibility of more movement on the downside.
Note that the DMA, with Gold on top, is still Flat. Lots of churning at this juncture.
On the DMA_Histogram there are Red bars showing that are quickly approaching the Zero-line. Usually this indicates that there is more room on the downside to come.
I am expecting price to finish filling the gap that occurred on 07/27/23 before it heads back up. It nearly closed the gap this week, which may be sufficient, but I still think there is more room on the downside.
On the DMA_Histogram even though Gold is on top, the histo bars are Red which generally means price will move farther downward.
With the DMA Flat we are only anticipating congestion until price shows its hand.
Now let's consider this coffee company: SBUX (Starbucks).
The stats for SBUX are:
The long-term Attractors at 97 and 95 on SBUX were both broken a week ago and then bounced. Price is now sitting right on the Flat DMA. It echos the DOW performance.
There is another Attractor down below at 90.60 that we are now likely to test.
We got a SunnyBands confirmed Buy signal on 08/28/23 at 97.04 which was quickly negated. We are now in a SunnyBands Sell Signal from 97.44 and price is now at 95.10. That's a couple points of profit so far.
The DMA_Histogram had been at, or very near, zero for a couple of weeks, echoing the thought that we are going nowhere. BUT, this week it is below the zero-line and holding. Purple is now showing on the DMA_H and the DMA is moving solidly down.
Paying attention to these SunnyBands signals keeps me consistent. If you haven't already, maybe you'd like to get a FREE 7-day Trial for yourself. It's FREE and it comes with 2 Zoom sessions where I Personally give you Free Installation and Orientation on in the live markets.
HUM
The stats for HUM are:
Created : 09/09/2023 02:07pm Symbol "HUM", Bar Type = Daily Last Close = +467.73 : the close Friday was at +467.73. Change from last Sunday (+/-) (+460.61) = +7.12 Purple or Gold on top? Purple UOB = +495.95 UIB = +488.33 MidLine = +476.67 MidAngle = -12.13 LIB = +465.01 LOB = +457.39 Above/Below 21-day MAV = 481.34 - Below Above/Below 50-day MAV = 465.12 - Above Above/Below 200-day MAV = 494.90 - Below Color of DMA_H = Purple All Time High = +571.30 Percent = -18.13% on 11/03/2022 211 bars ago.
HUM was up +7.12 this week, in a retreat from the UOB week before this. Going on down to the LOB and then generating a Buy signal. We got a SunnyBands Sell signal on 08/16/23 at 494.66 which was closed at the LOB at 470.22 for 24 points profit.
Now we are Long and price is now at 467.80 for nearly 3 points of profit.
Purple is now on top, but not by much. Last week I said: "The DMA_H shows we are just about to cross over the zero-line and turn bearish (Purple)" And that's just what it did.
However, there is a strong Attractor at 455.07 that could hold further downside action. If price rebounds at that level all bets are off.
Last week I said: "If I had to guess I'd say that price is likely to move down to the 21-day MAV at 478 and then try to reestablish its move back upward again." It did go below that level and now is positioned to go farther down.
Price is below all but the 55-day MAV. We are in a Golden Cross (Bullish) with the short-term MAV crossing over the longer-term 55-day MAV. However, the 21-day MAV is now sloping downward and further downside price action could cause them to cross again into Bearish formation.
AMZN
The stats for AMZN are:
Created : 09/09/2023 02:08pm Symbol "AMZN", Bar Type = Daily Last Close = +138.23 : the close Friday was at +138.23. Change from last Sunday (+/-) (+138.12) = +0.11 Purple or Gold on top? Gold UOB = +140.39 UIB = +138.18 MidLine = +134.56 MidAngle = 8.81 LIB = +130.93 LOB = +128.72 Above/Below 21-day MAV = 135.95 - Above Above/Below 50-day MAV = 133.56 - Above Above/Below 200-day MAV = 109.96 - Above Color of DMA_H = Gold All Time High = +188.11 Percent = -26.52% on 06/27/2022 302 bars ago.
Price was up on the week, by +0.11, with AMZN creating a large gap week before last, moving sharply above the DMA--causing it to turn upward.
We had a SunnyBands Buy signal last week that was confirmed. Price has moved upward since then, from the entry of 134.91 to its current 138.26. That's almost 4 points of potential profit so far in a very narrow move.
Gold is on top, but the DMA is virtually Flat at 8.81 degrees of slope.
Price meandered around the Flat DMA last week rising above it and touching the UOB only to fall lower. But it's still above the Gold DMA.
If I had to guess, I'd say that it should now head toward the upper Attractor finishing the 5-wave up. But it may have to finish the 4-wave down before that.
However, the Weekly DMA_Histogram is Red and getting shorter, suggesting that there is more movement to come on the downside.
TSLA
The stats for TSLA are:
Created : 09/09/2023 02:08pm Symbol "TSLA", Bar Type = Daily Last Close = +248.50 : the close Friday was at +248.50. Change from last Sunday (+/-) (+245.01) = +3.49 Purple or Gold on top? Purple UOB = +271.45 UIB = +262.04 MidLine = +246.37 MidAngle = 3.86 LIB = +230.69 LOB = +221.28 Above/Below 21-day MAV = 240.73 - Above Above/Below 50-day MAV = 256.33 - Below Above/Below 200-day MAV = 199.93 - Above Color of DMA_H = Green All Time High = +414.50 Percent = -40.05% on 06/27/2022 302 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 several months ago. Several other pundits I keep track of are suggesting a much higher price also.
TSLA was up again this week: +3.49 on the week and now is above the Flat DMA ("caution") but still below the 55-day MAV, but not by much. This level is important to future up moves on TSLA and needs to be broken to the upside to secure any upward momentum.
The SunnyBands Buy signal was on 08/21/23 at 231.28. Price is up over 51 points from that level for a nice long trade. This signal was opened at 231 and is now at 249 for about 17 points of potential profit.
Purple is on top on the DMA, and the DMA_Histo is showing Green, which could result in upside movement. More likely, price is above the DMA and waiting for the DMA_H to cross the zero-line and move into Gold territory.
On the Weekly chart price retraced to the DMA and then moved above it. Gold is still on top on the Weekly DMA and price is above it. Yet, Red is showing which could portend movement down.
This is still my favorite stock. But, at this point I'm a trader, not an investor yet until it gets out above the Attractor at 294. The stock is still down 33% from its all-time high, so there is a lot of room on the upside.
Seems to me people should be flocking to Teslas with gas prices high still. It is now back up to $5.00/gal in my neighborhood. When I drove up to Santa Monica a few 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. I just found out that Mercedes is projecting a 2024 electric Maybach. That's my next car.
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 huge run-up potential).
ARKK
The stats for ARKK are:
Created : 09/09/2023 02:09pm Symbol "ARKK", Bar Type = Daily Last Close = +43.68 : the close Friday was at +43.68. Change from last Sunday (+/-) (+43.62) = +0.06 Purple or Gold on top? Purple UOB = +45.49 UIB = +44.60 MidLine = +43.11 MidAngle = 1.72 LIB = +41.61 LOB = +40.72 Above/Below 21-day MAV = 42.35 - Above Above/Below 50-day MAV = 44.98 - Below Above/Below 200-day MAV = 39.78 - Above Color of DMA_H = Green All Time High = +125.86 Percent = -65.29% on 06/27/2022 302 bars ago.
ARKK is now (on the Daily) at 43.68 having moved up +0.06 this week. It is now above the Purple DMA and 21- and 200-day MAVs. Price is above all but the 55-day now and could be poised for a move the the UOB at 46.73.
The Attractor at 45.48 is just above the 55-day MAV and could serve as the next target. ARKK is also in a Bearish Death Cross which could mean lower prices to come.
On the Weekly chart ARKK is just going sideways bouncing off the Flat DMA and going nowhere. Price is right at the Flat DMA and there is potential for going on down to the LOB at 34.80 as well as the potential for moving up to the UIB at 47.73.
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.
Who's On Top (Weekly) at the bottom of the chart is Gold because the Gold line is on top of the DMA. But the Histogram is showing Red and getting shorter which speaks to more downside action.
This week she added 127676 shares of PACB, 12766 shares of PD and sold 43701 shares of SHOP in her fund.
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!
MSFT
Created : 09/09/2023 02:09pm Symbol "MSFT", Bar Type = Daily Last Close = +334.27 : the close Friday was at +334.27. Change from last Sunday (+/-) (+328.66) = +5.61 Purple or Gold on top? Purple UOB = +339.59 UIB = +335.55 MidLine = +329.06 MidAngle = 9.93 LIB = +322.56 LOB = +318.52 Above/Below 21-day MAV = 325.04 - Above Above/Below 50-day MAV = 332.64 - Above Above/Below 200-day MAV = 290.40 - Above Color of DMA_H = Green All Time High = +366.78 Percent = -8.86% on 07/18/2023 37 bars ago.
MSFT (closing at +334.50 up by +5.61 on the week) is now above all 3 MAVs. Just over 5 weeks ago MSFT made a new all-time high but dropped right back down from that level...to the DMA, and now has bounced and is back above the DMA, though slightly.
The DMA is Flat with Purple on top suggesting further confusion (read: congestion) is in store. Yet, the DMA_H is showing Green, indicating the possibilty of future upward movement.
Price dropped through the 23.6% Fib line and now is sitting right astraddle it.
A SunnyBands Buy signal was given on 07/20/23 at 346 and closed on 08/21/23 at 321.88 for a potential profit of nearly 24 points per share.
Now we are again in a SunnyBands Buy signal from 08/21/23 at 321.88. Current price is 334.50, so that's a bit of profit so far. About 13 points.
On the Weekly chart price is right on the Flat DMA with Gold still on top (but the DMA_H is Red and headed down). It wouldn't surprise me either way the next moves go. It could easily bounce off the weekly Flat DMA or drop beneath it and continue on down to the 252 level. Now is the time to be nimble and follow the impending movement.
Don't ever try to lead the market. It is always right.
VantagePoint shows another move upward with the high at 336.33 and a low of 331.36 for Monday.
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Oil
The stats for CL are:
Crude Light (CL) is up this week by again by +1.96 points. A breakout all week!
The prior week we had a SunnyBands Buy signal that was confirmed on 08/25/23 at 79.83. With price now at 97.23 that's a potential 17+ points profit.
Price was up all week, against the UOB. We had one Red candle that could have triggered a Sell signal, but the next candle didn't confirm it. Of course that will get reflected at the pump, where prices are now at $5.60 in my town.
On the Weekly it looks like price has farther up to go, probably to the UOB and above 92 at least. The overhead Attractor now lies at 92.33.
On the Daily chart price moved sharply up this week in a 5th wave move. This will likely result in still higher prices. It could, however, be the end of the move, depending on whether it creates an Extended 5th wave. The Fib extensions on this wave would potentially put us at 88.85 pr 91.53.
Then we'll see if it puts in a corrective wave A-B-C.
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 : 09/09/2023 02:11pm Symbol "@BTC", Bar Type = Daily Last Close = +26,005 : the close Friday was at +26,005. Change from last Sunday (+/-) (+25,700) = +305 Purple or Gold on top? Purple UOB = +29,109 UIB = +28,315 MidLine = +26,996 MidAngle = -89.03 LIB = +25,678 LOB = +24,884 Above/Below 21-day MAV = 27100.48 - Below Above/Below 50-day MAV = 28947.30 - Below Above/Below 200-day MAV = 26130.75 - Below Color of DMA_H = Green All Time High = +70,990 Percent = -63.37% on 06/24/2022 304 bars ago.
The Internet says the sharp down movement on 08/18/23 is "due to unpredictable macroeconomic headwinds and the recent fallouts in the U.S banking system." To me it was just the technical fulfillment of the SunnyBands Sell signal. There is now a 4,870 point profit in the Sell signal from 07/06/23 at 30,845 with price now at 25,975.
BitCoin on the Weekly chart is moving sideways on the UIB, and below the it's below the UOB. The DMA is Flat and on the DMA_H red is showing and about to crossover the zeri-line. That means to me that lower prices are coming.
Still on the Monthly, price is right below a Flat, Purple DMA with a Strong Attractor at 32,256 holding price down. Price is right below the Flat, Purple DMA, potentially holding price down at that level. In all likelihood it was the force of that Attractor that has contributed to the further price decline.
We are a long way from the all-time highs of 70,000 during the irrational exhuberance phase.
On Thursday and Friday the market was weak, dropping first below one Attractor and then sharply down to the other one. Price is now sitting on that Attractor (at 25,434) trying to decide what to do next.
In the after-hours session BTC is up 10 points to 26,005.
Bitcoin has been very choppy on the Daily chart, with LOTS of Pennant formations, which shows lots of congestion.
Right now price is sitting in yet another Pennant formation, and right below the downsloping DMA. With Purple still on top.
On the Daily chart, we got a Buy signal on 06/18/23 at 26,445 and exited on 06/28/23 at 30,480 for just about 4,000 points potential profit.
The signal currently in effect is a Sell on 07/06/23 at 30,730. With price now at 25,995 that is a potential profit of 4,870 points.
Week before last I said: "BTC is right at a strong Attractor at 28,374 that might hold price up. If it breaks that level we are likely going on down to 26,303." And it is now beyond that level.
In our Podcast interview with Ted Hearne, he pointed out that the stock market is going down and Bitcoin is going sideways. He believes that shows strength in BitCoin. Check it out.
Ethereum
The stats for Ethereum are:
Created : 09/09/2023 02:11pm Symbol "ETHUSD", Bar Type = Daily Last Close = +1,635.90 : the close Friday was at +1,635.90. Change from last Sunday (+/-) (+1,628.61) = +7.29 Purple or Gold on top? Purple UOB = +1,796.60 UIB = +1,755.53 MidLine = +1,688.03 MidAngle = -74.10 LIB = +1,620.52 LOB = +1,579.45 Above/Below 21-day MAV = 1690.07 - Below Above/Below 50-day MAV = 1799.62 - Below Above/Below 200-day MAV = 1693.90 - Below Color of DMA_H = Green All Time High = +4,867.81 Percent = -66.39% on 06/15/2022 322 bars ago.
In the after-hours market ETHUSD is down -13.32 points to 1,622 after having dropped precipitously along with BTC at the end of a week ago.
The Daily chart shows that ETHUSD had been in a sideways channel since March and last week was less than half the way up. Now it is decisively broken the yellow rectangle by dropping -185.41 points on the week before!
Now it is trying to get back into the yellow rectangle and is sitting right beneath it inside a Pennant formation. See chart. On the Histogram Green is showing, and moving upward, showing the possibility of it moving up to the DMA at 1,720.
Price dropped below the 200-day MAV and then recovered back up to that level where it is currently sitting. Price will need to break above the 200-day MAV to show further progress.
Purple is on top with the DMA_H showing Green lines below the zero-line.
Last week I said: "...the DMA_H is about to cross over into negative territory. That speaks to the potential of price moving on down to the LOB at 1,782." And it did just that and a bit more.
To get further insight we'll look at the Weekly chart next. Price is, like on the Daily, below the yellow rectangle. In fact, we are in a Death Cross with the 55-period MAV crossing below the 200. It looks to me like we have farther down to go, at least to the LOB, which lies at 1,498.96.
Gold
The stats for Gold are:
Created : 09/09/2023 02:12pm Symbol "@GC", Bar Type = Daily Last Close = +1,942.7 : the close Friday was at +1,942.7. Change from last Sunday (+/-) (+1,967.1) = -24.4 Purple or Gold on top? Purple UOB = +1,981.8 UIB = +1,969.8 MidLine = +1,950.5 MidAngle = -19.16 LIB = +1,931.2 LOB = +1,919.2 Above/Below 21-day MAV = 1944.48 - Below Above/Below 50-day MAV = 1968.18 - Below Above/Below 200-day MAV = 1982.26 - Below Color of DMA_H = Purple All Time High = +2,214.3 Percent = -12.27% on 06/24/2022 304 bars ago.
Gold.
Gold erased its move up last week, dropping below the Purple DMA and stagnating. It broke the DMA, but it didn't go down to the LIB as I would expect. Instead it's just hanging out sideways for most of the week after Tuesday's sizable move down.
VantagePoint has been correctly predicting this movement all along for weeks. They suggest the market will move down tomorrow with a predicted high of 1,931 and low of 1,920.
In the after-hours market tonight price is down by -0.4 points.
Take a look at the prediction from Glenn Neely in a previous issue which portends significant further down moves in Gold.
On the Monthly chart we are just in a sideways channel with price above the Long Term Attractor at 1,887. And we are in the middle of a Pennant formation. And, we are sitting on a very Flat DMA--for months! I'm guessing that price will move down to test that Attractor (which is right at the DMA) and then bounce back upward. This is contrary to Neely's predictions; I'm seeing Gold moving back up to bounce off the Flat DMA.
As I said earlier, it has been reported that the Central Banks are now buying gold and that should elevate price in the coming months.
Bonds
The stats for @US are:
Created : 09/09/2023 02:12pm Symbol "@US", Bar Type = Daily Last Close = +119.56250 : the close Friday was at +119.56250. Change from last Sunday (+/-) (+120.34375) = -0.78125 Purple or Gold on top? Purple UOB = +123.35472 UIB = +122.44083 MidLine = +120.90500 MidAngle = -3.86 LIB = +119.36917 LOB = +118.45528 Above/Below 21-day MAV = 120.03 - Below Above/Below 50-day MAV = 122.89 - Below Above/Below 200-day MAV = 128.16 - Below Color of DMA_H = Green All Time High = +166.09375 Percent = -28.02% on 06/24/2022 304 bars ago.
Bonds are up +0.40625 on the week. The DMA_H turned Green and then Purple and then Green (where it is now, moving upward) again and price is now above a long-term Attractor at 118^18 that could cause price movement to falter and churn, speaking to congestion. Further, the DMA is nearly Flat with Purple on top and price rose to it and then broke down again, moving to the LIB.
On the Daily chart we spent the last few weeks moving below the Purple DMA. And on down to the LOB. And below! This past week price moved down and then sideways, sitting right on the LIB.
With Purple on top and the DMA Flat we can expect more congestion as price decides what it wants to do with the possibility of another rate hike in September.
On the Monthly chart the US is being held up by a Strong Attractor that lies at 118^18. It is also in a double Pennant formation that will need to be broken to get up to the Flat Purple DMA. Price broke below the boundary of the most recent Pennant, which is suggestive of further downside action, but it has not yet broken the boundary of the previous Pennant.
There is another Attractor on the Monthly chart at 108^31 which could be the next level down if interest rates are again raised.
There are several "Fed member speaks" occasions in the near future, but the important one is September 19-20 when we will see what they do next.
Back to the Daily chart: Price is below the Flat Purple DMA and while it bounced off the LOB on Tuesday the signal was not confirmed with Purple on top and the DMA Flat. We'll see what this next week brings.
VantagePoint is predicting a wide day for tomorrow with the high at 120^07 and the low at 119^03.
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