Sunday October 15, 2023 VOLUME 7 ISSUE 39
The Definitive Guide to TradeStation's EasyLanguage & OOEL Programming--Vol I: Programming Guideand Vol II: Reference Guide NOW AVAILABLE on Amazon.com. Go to www.easylanguageooel.com, register as a Free Member and I'll send your indicators right away!
FREE OFFER: Both books FREE with purchase of SunnyBands. Expires 10/31/2023.
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.
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"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)
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"I just wanted to update you on how trading is going with SunnyBands. I hope I am not jinxing myself by telling you this, but I am so happy with your indicators that I wanted to share with you. From the start of the trial on 8/29 until I purchased your indicators on 9/6, my portfolio was up 28%. From the start of the trial to today, my portfolio is up 74%!!! Thank you so much for your help and your indicators!! I have so much more confidence in trading now and I am still learning!! I can only see things improving from here. Thank you so much!!!!" -Margaret K.
NEW Podcasts Dropped: William Eng, Louis Navellier, Cynthia Kase, Howard Getson, 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: Alexander Elder.
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 Saturday November 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. It's a lot of fun! Don't miss it next time. Click HERE to join us. You must be registered to get the invitation and link.
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"You can use SunnyBands for Options on QQQ. When it goes purple I go! It's a sure bet. Price crosses above LOB sometimes, wait for a couple bars within LOB. Catch it on Friday on options expiration sell puts and it's a sure thing! I did it on TSLA too." - Aaron R.
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
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Sam Tennis is offering EasyLanguage Mentoring Sessions. If you are interested, please fill out this little form.
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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!
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Podcast: The Sunny Harris Show! with Sam Tennis
And in another vein, if you'd like to visit the Podcast interviews of Sunny they are available Here.
The most recent Episodes are with William Eng, Louis Navellier, Cynthia Kase, Howard Getson, 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 Alexander Elder & Brad Matheny . I listen to Podcasts while I trade! You don't have to just sit there and do nothing else; listen to podasts while you trade.
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VantagePoint ai Prediction for Tomorrow
Click Here to attend a Free informative presentation.
The Dow closed at 33,670 Friday. The VantagePoint prediction for Monday is for a lower day with a slightly lower high and a lower low. The predicted high is 33,878 and the low is 33,476. That's a range of over 400 points on the day.
The moving averages are above the zero-line. Though the short-term average is now right on the zero-line with the other two pointing horizontal to upward.
On the SunnyBands of the Dow price rode the Flat DMA this week with Purple on top, in response to last week's SunnyBands Buy signal, which was confirmed.
Take a look at the Monthly Dow chart below to see what I'm looking at longer term.
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.
In today's Gold chart is a Weekly view so you can see longer term predictions. Click on the link to http://www.NEoWave.com visit his website.
Here is the Weekly NEoWave projection of Gold. 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
Dow Jones
The stats for the Dow are:
The Dow finished this week up by +262.71 as it moved up to the Flat DMA and couldn't go any higher. It rode the Flat DMA for the remainder of the week.
The question now is: will it continue making downward progress and drop to the Attractor at 32,654 or will it continue the rise above the DMA at 33,715?
The DMA_Histogram is under the zero-line but has turned Green, letting us know that Purple is on top on the DMA, and it is now showing Green, letting us know that upward movement is in progress.
We got a SunnyBands Sell signal on 09/15/23 that was confirmed at 34,624. It closed on 10/05/23 with 1,505 points of potential profit. We are now at 33,670 and have a SunnyBands Buy signal in place from 33,119.67 for another 551 points of potential profit.
The slope of the DMA is now aat -51 degrees, showing the last 3 bars have sloped downward, even though relatively Flat.
In a Facebook post last 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 down to the 23.6% Fibonacci line at 28,144. 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.
Notice the trendline I've drawn on the monthly percent change chart: We have lower highs, which is what happened in the fall of 1987. It resulted in a LARGE move down. Only time will tell with this one. Be careful.
On the Weekly Dow chart, price is now below the DMA, with Gold still on top. The DMA is now Flat (at 2 degrees) and with that price could go either direction. It could bounce off the DMA or move farther down. We are just below the low of the recent Pennant formation which could also portend further downside action.
Looking again at the Daily chart, price sits now at 33,670 which is right below a Strong Attractor (meaning there are several previous price turns on it). VantagePoint is predicting slightly higher prices for tomorrow and I wouldn't be surprised to see that happen. At least until we surpass the DMA.
Note that I had a Baby Bull at the top of this newsletter and now I've changed it to dueling bull and bear. I'm not confident we are really in a Bull OR Bear Market yet, so it will stay a struggle until the Bull proves itself. If it does.
Keep in mind that markets rarely go straight up or straight down. They usually 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 and waiting for this correction to resolve.
And Yet...we had a SunnyBands Buy signal on Wednesday 10/04/23 that was confirmed on Thursday at 33,119. With price now at 33,670 that's 551 points of potential profit.
The Podcasts of William Eng, Louis Navellier, Cynthia Kase, Howard Getson, 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. Alexander Elder coming Next! And after that Brad Matheny.
S&P 500
In opposition to the DOW, the ES was up +15.75 this week. It was above and then below the Flat DMA this week, closing slightly below it.
The ES is just below the DMA, which is Flat. In all likelihood it will churn a bit this week since the DMA is Flat. Only soundly breaking through the DMA will set another up move in motion.
Last week I said: "There is a Strong Attractor at 4,260 which might serve as the next target." And that still stands.
The SunnyBands gave a confirmed Sell signal followed by a reversal to a Buy signal. The current SunnyBands signal is a Buy from 10/05/23 at 4,290 and with current price at 4,351 it has 61 points of potential profit.
Quips & Quotes
Here are a few quotes from my users these past few weeks. Read this LATEST one:
"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 the PHW. Notice that most of the stocks are in Bearish configurations (light Red) with te DMA Direction showing "/\" which says was up now turning down. 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 only 30 stocks that meet the conditions this week (21 last week), another slight increase over last week . 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 : 10/13/2023 04:46pm Symbol "META", Bar Type = Daily Last Close = +314.69 : the close Friday was at +314.69. Change from last Sunday (+/-) (+315.43) = -0.74 Purple or Gold on top? Gold UOB = +328.11 UIB = +320.98 MidLine = +309.46 MidAngle = 37.05 LIB = +297.94 LOB = +290.81 Above/Below 21-day MAV = 306.88 - Above Above/Below 50-day MAV = 302.19 - Above Above/Below 200-day MAV = 241.68 - Above Color of DMA_H = Gold All Time High = +384.33 Percent = -18.12% on 09/01/2021 532 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. Last week were again in a Buy signal from 289.90 and went up to 314.05 for a potential profit of just about 24 points. Now, as of Friday, we are in a confirmed Sell signal from 314.69. Price is at 314.69 where the Sell took place.
Price is now at a conjunction of the 55- and 21-day MAVs and is well above the 200-day MAV. Price has been rising above the DMA all week with hardly any progress. It's down -0.74 on the week. And a new Sell signal is in place.
META has been moving nicely upwards again but now has moved down below the UIB into a SunnyBands Sell signal. Once we rise over the Flat DMA, it looks like we are going on up to the Attractor at 338. but only after this congestion ends
KDP: Keuring Dr. Pepper
This week, on the Daily chart, the price of KDP moved down dramatically since 09/22/23 -1.96 points on this week, dropping over the last 3 weeks from its Flat status to clearly down. Over that period it has dropped from the SunnyBands Sell signal at 33.12 to its current price of 28.11. Of course, since the price of KDP is relatively low the scale makes the drop look larger.
Last week I said: "The DMA_H is showing Purple, which is Bearish, and the Slope is decidedly negative." And this week it did just that."
A SunnyBands Sell signal occurred on 09/22/23 at 33.12. Price is now at 28.11 for a small potential profit of 5+ per contract. It is below all 3 MAVs indicating the possibility of more movement on the downside. There is a stong Attractor at 20.75 that looks like the next target.
On the DMA_Histogram it is clearly in Purple territory, moving solidly downward.
Last week I said: "I still think there is more room on the downside." And that's what has happened.
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 4 weeks ago and then price bounced. But not for long. Price is now continuing to move downward and, like KDP, there is a Strong Attractor below at 71.60 that could easily be the next target.
On the other hand, the Fibonacci Retracements show that the next target is likely to be the 61.8% line at 86.95. It is likely to stumble at that level and then drop on down to the 76.4% line at 80.04.
We are now in a SunnyBands Sell signal that was confirmed on 09/01/23 at 98.0. Price is now at 91.48 for over 6.5 points potential profit. Imagine that on a standard purchase of 100 shares!
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 continuing to move down. Green is now showing on the Daily DMA_H and the DMA is sloping downward, indicating impending moves to the downside.
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 : 10/13/2023 04:44pm Symbol "HUM", Bar Type = Daily Last Close = +505.97 : the close Friday was at +505.97. Change from last Sunday (+/-) (+498.17) = +7.80 Purple or Gold on top? Gold UOB = +511.36 UIB = +503.46 MidLine = +490.53 MidAngle = 43.08 LIB = +477.60 LOB = +469.70 Above/Below 21-day MAV = 491.20 - Above Above/Below 50-day MAV = 485.38 - Above Above/Below 200-day MAV = 489.81 - Above Color of DMA_H = Gold All Time High = +571.30 Percent = -11.44% on 11/03/2022 236 bars ago.
Contrary to several other instruments HUM is up solidly this week by another +7.80 points and sitting right above the Flat DMA with price at 505.97.
Last week I said: "The Attractor is sitting at 505.98 which is where we are likely to go this week if we continue to bounce off the DMA." And look where we are! One penny off. Fantastic!
Gold is now on top, by just a bit more but it's wavering back and forth between Red and Gold, indicating indecision. And, though wavering, Gold is now showing on the DMA_H.
Price is above all 3 MAVs. We are in a Golden Cross (Bullish) with the short-term MAV crossing above the longer-term 200-day MAV. The next goal is the Attractor above at 540 OR the LIB at 477.60. No way to tell until it shows us what it's going to do next. I am known to say "I'm waiting for more data."
AMZN
The stats for AMZN are:
Created : 10/13/2023 04:36pm Symbol "AMZN", Bar Type = Daily Last Close = +129.79 : the close Friday was at +129.79. Change from last Sunday (+/-) (+127.96) = +1.83 Purple or Gold on top? Purple UOB = +138.46 UIB = +135.64 MidLine = +131.09 MidAngle = 1.00 LIB = +126.54 LOB = +123.72 Above/Below 21-day MAV = 130.23 - Below Above/Below 50-day MAV = 134.47 - Below Above/Below 200-day MAV = 115.24 - Above Color of DMA_H = Green All Time High = +188.65 Percent = -31.20% on 07/13/2021 568 bars ago.
Price was up again on the week, by +1.83, after a drop of -11 points week before last. Now it has bounced off the LOB in a Bullish move and a SunnyBands Buy signal on 10/09/23 at 128.26.
Price is now at 129.79 for 1.53 points of potential profit.
Purple is on top but showing Green on the DMA_H, adding to the previous Buy signal, but the angle of Slope is turning flat from its low, possibly leading to some upward movement, possibly some congestion.
If I had to guess, I'd say that price will rise to the DMA at 131.11 which is nearly coincident with the 21-day MAV.
The Weekly the DMA_Histogram is Red (meaning Gold is on top but moving down) and getting shorter, suggesting that there is more movement to come on the downside. In fact, Slope is Flat at -1.07 and we are right at the Attractor I mentioned last time, at 127.07.
TSLA
The stats for TSLA are:
Created : 10/13/2023 04:50pm Symbol "TSLA", Bar Type = Daily Last Close = +251.12 : the close Friday was at +251.12. Change from last Sunday (+/-) (+260.53) = -9.41 Purple or Gold on top? Purple UOB = +274.10 UIB = +266.34 MidLine = +254.52 MidAngle = -1.58 LIB = +242.71 LOB = +234.95 Above/Below 21-day MAV = 255.89 - Below Above/Below 50-day MAV = 250.29 - Above Above/Below 200-day MAV = 211.65 - Above Color of DMA_H = Purple All Time High = +414.50 Percent = -39.42% on 11/04/2021 487 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 many months ago. Several other pundits I keep track of are suggesting a much higher price also.
TSLA was down by -9.41 this week and now is below the Flat DMA with Purple on top (but not by much) and the DMA_H showing a short Purple bar. This is likely to yield to a move above the zero-line into Gold territory. How can I say that with price below the DMA and Slope negative? Remember what a Flat DMA means: congestion. I'm expecting a slight bounce from the DMA for a scalping opportunity.
This week we exited the Buy signal at 258.87 for a potential profit of just over 2 points per share.
On the Weekly chart price is right above the almost Flat DMA (with Purple barely on top) and could go either direction. We are in a Buy signal on the weekly chart and Red is showing on the DMA_H.
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 297. The stock is still down 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 : 10/13/2023 04:38pm Symbol "ARKK", Bar Type = Daily Last Close = +37.77 : the close Friday was at +37.77. Change from last Sunday (+/-) (+39.21) = -1.44 Purple or Gold on top? Purple UOB = +42.38 UIB = +41.36 MidLine = +39.64 MidAngle = -6.98 LIB = +37.91 LOB = +36.89 Above/Below 21-day MAV = 39.50 - Below Above/Below 50-day MAV = 41.46 - Below Above/Below 200-day MAV = 40.49 - Below Color of DMA_H = Green All Time High = +159.70 Percent = -76.35% on 02/16/2021 670 bars ago.
ARKK is now (on the Daily) at 37.77 having moved down by -1.44 this week. It is now sitting below the Purple DMA and 21-, 55- and 200-day MAVs. Price is below the DMA MidLine and now Green is showing on the DMA_H and getting shorter, indicating the possibility of a move upward. It is right at a weak Attractor that migh hold further downside motion, but since this is ARKK we're talking about, I doubt it.
The Attractor at 45.48 is just above the UOB 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 LOB and going nowhere. Price is right under the Flat DMA and at the LOB and there is potential for going on down to the LOB at 36.19 as well as the potential for moving up to the UIB at 45.56.
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 with the DMA_H moving below the zero-line into Purple territory.
This week she added 94271 shares of ACHR, 156051 shares of DNA and 10115 shares of NTLA 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!
We interviewed Louis Navellier for our Podcast this week. Among other things he told us something very interesting. He said that big traders now make their money on the spread (Difference between Bid and Ask) since commissions are usually zero now. Thus, the more ARKK trades the more profit she makes, even if the stock symbol doesn't profit itself.
MSFT
Created : 10/13/2023 04:47pm Symbol "MSFT", Bar Type = Daily Last Close = +327.73 : the close Friday was at +327.73. Change from last Sunday (+/-) (+327.26) = +0.47 Purple or Gold on top? Purple UOB = +338.51 UIB = +332.95 MidLine = +324.31 MidAngle = 13.63 LIB = +315.68 LOB = +310.12 Above/Below 21-day MAV = 322.26 - Above Above/Below 50-day MAV = 324.88 - Above Above/Below 200-day MAV = 300.15 - Above Color of DMA_H = Green All Time High = +366.78 Percent = -10.65% on 07/18/2023 62 bars ago.
MSFT (closing at +327.73 up by +0.47 on the week) is now above all 3 MAVs. This is Bullish.
Just over 8 weeks ago MSFT made a new all-time high but dropped right back down from that level...to the DMA, and now is above the nearly Flat DMA which is now showing Purple on top with the DMA_H showing Green. That's also Bullish. Price touched but did not exceed the UIB at 332.96. I think it's going to have another go at it.
Note, however, that we had a SunnyBands Buy signal on 09/28/23 at 313.64 and is currently at 329.18 for a potential profit of 15.54 points.
Chances are now we will head for the UOB at 338.13 for a few more points of potential profit.
A SunnyBands Sell signal was given on 09/18/23 at 326 and Thursday was at 313.64 for a potential 12+ points per share.
Now we are in a Buy signal with about 15.54 points potential profit in it.
On the Weekly chart price is right astraddle the Flat DMA. The SunnyBands are narrow but I'm thinking we are in for more downside action, at least to the LIB if not the LOB. On the DMA_H we have Red bars getting shorter indicating the possibility of them decreasing down to the zero-line and breaking through to turn Purple.
Don't ever try to lead the market. It is always right.
VantagePoint shows further move upward with the high at 332.77 and a low of 325.43 for Monday. There is also a Strong Attractor overhead at 339.87 that could easily be the next target.
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Oil
The stats for CL are:
Crude Light (CL) is up again this week by +4.90 points. We are in a SunnyBands Buy signal from 10/09/23 at 86.38 and are now up to 87.72 for about 1.34 points of potential profit.
Price was sideways this week in a broadening formation (megaphone) until it broke the Purple DMA on the upside. In all likelihood, with a war in the Middle East, the price of oil will rise due to the fear of scarcity.
On the Weekly it looks like we had one big Red candle last week followed by a bounce on a blue candle off the Flat DMA. This chart also looks like price could rise -- this time to the UIB at 90.57.
Putin and Netanyahu 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 : 10/13/2023 04:31pm Symbol "@BTC", Bar Type = Daily Last Close = +26,840 : the close Friday was at +26,840. Change from last Sunday (+/-) (+28,145) = -1,305 Purple or Gold on top? Purple UOB = +28,672 UIB = +28,079 MidLine = +27,172 MidAngle = -85.29 LIB = +26,265 LOB = +25,672 Above/Below 21-day MAV = 27185.71 - Below Above/Below 50-day MAV = 27386.80 - Below Above/Below 200-day MAV = 27433.28 - Below Color of DMA_H = Purple All Time High = +71,225 Percent = -62.32% on 11/10/2021 484 bars ago.
BTC is now in a Buy signal from 09/13/23 at 26,205 and with price now at 27,045 has a potential profit of 840 points per share. I keep getting emails (don't know what to believe) about a new Digital Dollar's introduction imminent. That could catapult the price of BTC, or could tank it as the new currency is adopted.
BitCoin on the Daily chart is down -1,305 on the week from last week's close on Friday. Price has hit the DMA MidLine and is stuck in sideway movement Thursday and Friday. We'll see what happens when the after-hours market opens in an hour.
The Weekly chart is moving sideways on the Gold DMA, and it's right above the Flat DMA, meaning more congestion is in order. The DMA is Flat and on the DMA_H Gold is showing and has crossed above the zero-line but just barely. That means to me that higher prices are coming.
Still, on the Monthly, price is languishing below the Purple DMA, which has a slightly negative Slope, and is sitting right on the next Attractor that's at 25,434.
We are a long way from the all-time highs of 70,000 during the irrational exhuberance phase.
The week was nothing if not sideways. Lots of indecision with the DMA_H barely registering, but mathematically in Purple but barely below the zero-line.
In the after-hours session BTC is up 535 points to 27,375.
Bitcoin had been very choppy on the Daily chart, with lots of congestion. Now it has a decidedly up slope to price action. On the DMA_H the bars on the Histogram are Green and getting shorter. That tends to lead to crossing the zero-line and turning Gold with higher prices following.
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 signal on 10/10/23 at 27,490. With price now at 27,045 that is a potential profit of about 445 points. WE'll see what the after-hours session brings.
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." I think we still can see that price again.
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 : 10/13/2023 04:42pm Symbol "ETHUSD", Bar Type = Daily Last Close = +1,558.45 : the close Friday was at +1,558.45. Change from last Sunday (+/-) (+1,647.20) = -88.75 Purple or Gold on top? Purple UOB = +1,712.40 UIB = +1,675.65 MidLine = +1,616.70 MidAngle = -80.50 LIB = +1,557.75 LOB = +1,521.00 Above/Below 21-day MAV = 1610.30 - Below Above/Below 50-day MAV = 1661.35 - Below Above/Below 200-day MAV = 1740.32 - Below Color of DMA_H = Purple All Time High = +4,867.81 Percent = -67.98% on 11/10/2021 502 bars ago.
In the after-hours market ETHUSD is up 5.49 points to 1,563.92 after having moved sideways at the end of a week ago.
The Daily chart shows that ETHUSD had been in a sideways channel since March and a few weeks ago was less than half the way up. Now it has dropped below the yellow rectangle channel again, but just a bit. ETHUSD is not doing a very good job at tracking BTC and is in serious sideways movement.
On the DMA_H we have lots of Green and Purple bars switching back and forth, indicating that it could pass through the zero-line and head into Gold territory. Price then would work its way back up through the yellow zone and touch the UOB which lies at 1,669.66.
Price is now below all 3 MAVs which are configured in the "proper" order. This is certainly not Bullish. Like BTC the introduction of a new Digital Dollar could affect it in either direction, depending on fear and speculation.
Purple is on top with the DMA_H showing a Green line below the zero-line, moving upward. This could portend movement up through the zero-line and turning Gold. Maybe.
To get further insight we'll look at the Weekly chart next. Price is, like on the Daily, below the yellow rectangle. For price to move up in this configuration it needs to plow through the 21-period MAV on its way up and probably touch the UIB at 1,849. I don't see this happening any time soon. So far I see nothing but fear and consternation holding price in an indecision pattern.
Gold
The stats for Gold are:
Created : 10/13/2023 04:34pm Symbol "@GC", Bar Type = Daily Last Close = +1,941.5 : the close Friday was at +1,941.5. Change from last Sunday (+/-) (+1,845.2) = +96.3 Purple or Gold on top? Purple UOB = +1,929.6 UIB = +1,910.7 MidLine = +1,880.3 MidAngle = 72.07 LIB = +1,849.9 LOB = +1,831.0 Above/Below 21-day MAV = 1897.37 - Above Above/Below 50-day MAV = 1925.32 - Above Above/Below 200-day MAV = 1984.12 - Below Color of DMA_H = Green All Time High = +2,277.8 Percent = -14.76% on 09/06/2011 3050 bars ago.
Gold.
Gold is UP this week, by +96.3 points! That was one BIG bar. We got a SunnyBands Sell signal on 09/05/23 at 1,952.6 and subsequently a Buy signal on 10/09/23 at 1,864.30 which currently sports 77.2 points of potential profit, after profiting 88 potential points on the Sell signal.
Price went right to the 50% retracement and on Friday bounced strongly so that it is now above the UOB.
VantagePoint has been correctly predicting this movement all along for weeks. They suggest the market will move up tomorrow with a predicted high of 1,56.5 and low of 1,912.5.
In the after-hours market tonight price is down by -4.9 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 below the Flat DMA and yet approaching the LIB. Slope is -1.97. In all likelihood price will move farther down unless price bounces on the DMA (be nimble: it could do it).
As I said earlier, it has been reported that the Central Banks are buying gold and that should elevate price in the coming months.
Bonds
The stats for @US are:
Bonds are up +2.31250 on the week taking yields even higher. The DMA_H has turned Green which generally signifies I should be looking for Long opportunities.
We are currently iin a Buy signal from 10/09/23 at 112^01 and with price now at 112^20 that's just a few cents of potential profit.
The Fed Spoke on 09/20/23 which caused price to move upward and then sharply downward. The Fed's news was not well received.
On the Monthly chart the US is now below the Strong Attractor that lies at 118^18 and is anchored on the LOB. The Monthly DMA_H is once again Purple speaking to further downside momentum which is against the Daily situation.
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 next week.
Back to the Daily chart: Price is now caught in a Pennant formation right at the DMA, which is Flat denoting more congestion. Yet, on the DMA_H Green lines are showing, meaning congestion.
VantagePoint is predicting a sideways day for tomorrow with the high at 114^05 and the low at 111^26.
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