Sunday October 22, 2023 VOLUME 7 ISSUE 40
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 FREE indicators right away!
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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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"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.
I'm always befuddled when I encounter grammatical errors in stalwart publications like Newsweek or Time. For instance, the word "none" is singular. The proper use is thus: None is .... not None are .... Today I read that the accompanying graph showed the Federal Deficit getting larger (Zacks). That's now how I read this chart. How about you? COMMENTS. Looks to me like we got worse Deficit in 2016-2020 and now it's been narrowing. What do you think?
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"You can use SunnyBands for Options on QQQ. When it goes purple I go! It's a sure bet. Price crosses above LOB sometimes, wait for a couple bars within LOB. Catch it on Friday on options expiration sell puts and it's a sure thing! I did it on TSLA too." - Aaron R.
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EasyLanguage Forum
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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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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
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The Dow closed at 33,127 Friday. The VantagePoint prediction for Monday is for a lower day with a slightly lower high and a lower low. The predicted high is 33,326 and the low is 32,985. That's a range of over 340 points on the day.
I have drawn an Attractor (in this case a horizontal line) below the preponderance of price activity that begins on 10/03/23 and lasted 4 days. Note that price should at least drop down and test that level again.
The long-term Moving Average (MAV) is still above the zero-line, but pointing down and will likely cross over it this week. The two shorter-term MAVs are pointing down and below the zero-line. Looks negative to me.
On the SunnyBands of the Dow price stayed above, though touching, the Flat DMA Monday and Tuesday, and brokw below the DMA the rest of the week. In fact price dropped to the Lower Inner Band (LIB) where it is today. I'm expecting lower prices still.
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 down by -543.01 as it moved up to the Flat DMA and couldn't go any higher. It rode the Flat DMA for the first two days and then plumetted below it on down to the LIB at 33,118 before recovering a couple of points.
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?
There was a Sell Signal on Wednesday 10/18/23 at 33,665 which was Confirmed the next day at 33,414. We are now 287 points lower for a potential profit of 287 points.
The DMA_Histogram is under the zero-line but was Green all week and now has turned Purple as of Friday, letting us know that Purple is on top on the DMA, and it is now turning down.
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 closed the Buy signal from 33,119.67 at 33,414 for 295 points of potential profit.
The slope of the DMA is now at a sharp -87 degrees, showing the last 3 bars have sloped sharply downward.
In a Facebook post 2 weeks ago 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 and with that price could go either direction. It could stagger below the DMA and move farther down or it could break above the DMA and make a run for the UOB. There's no way to tell until the market tips its hand with a Flat DMA.
Looking again at the Daily chart, price sits now at 33,127 which is right above a Strong Attractor (meaning there are several previous price turns on it) at 32,848. VantagePoint is predicting somewhat lower 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 for a while 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. Price hit the Flat DMA and the order was closed for 620 points of potential profit.
A SunnyBands Sell signal was confirmed on 10/19/23 at 33,414 and Friday price closed at 33,127. That's 287 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
Along with the DOW, the ES was down... -108.75 this week. It was every day but Monday, which itself was astraddle the Flat DMA. Tuesday through Friday took us lower, and almost down to the LOB.
In the overnight market this evening the @ES is trading up +9.75.
The ES is well below the Purple DMA now with Puroke also showing on the DMA_Histogram.
There is a pretty strong Attractor at 4,234 which could hold further downside movement. But it's not the most likely scenario.
Last week I said: "There is a Strong Attractor at 4,260 which might serve as the next target." And it hit that level Exactly on Friday.
The current SunnyBands signal is a Sell that dipped below the FLat DMA on Friday the 13th at 4,357. Price is right now (after-hours Sunday) at 4,258. That's a potential profit of 99 points per contract.
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 : 10/20/2023 07:02pm Symbol "META", Bar Type = Daily Last Close = +308.65 : the close Friday was at +308.65. Change from last Sunday (+/-) (+314.69) = -6.04 Purple or Gold on top? Gold UOB = +328.94 UIB = +322.04 MidLine = +310.99 MidAngle = 310.99 LIB = +299.93 LOB = +293.03 Above/Below 21-day MAV = 310.70 - Below Above/Below 55-day MAV = 303.51 - Above Above/Below 200-day MAV = 246.56 - Above Color of DMA_H = Red All Time High = +384.33 Percent = -19.69% on 09/01/2021 537 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 Fruday the 13th, we are in a confirmed Sell signal from 314.69. Price is at 308.00 this evening for a potential 6 points so far.
Price is now at a near-conjunction of the 55- and 21-day MAVs and is well above the 200-day MAV. Price rose to the UOB on 10/12/23, touched it and the next day receded, dropping right down to the DMA MidLIne at 310.98. Now it's slightly below that and could easily be headed down to the LIB (299.93) or even the LOB (293.03).
Before this week META had been moving nicely upwards again but now has moved down below the Flat DMA and could easily move lower.
On the Weekly chart price has been moving inside the SunnyBands channel going sideways for about 12 weeks. Now that it has moved up and touched the Weekly UOB and pulled back, I expect it to drop to the Weekly DMA at 291.95.
KDP: Keuring Dr. Pepper
This week we have seen a slight recovery from the low 7 trading days ago at 27.66. Up now to 28.65. Not a huge recovery, but maybe it's tryig to find the bottom.
Last 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.
A SunnyBands Sell signal occurred on 09/22/23 at 33.12. Price dropped to 27.799 and then went back up inside the LOB for a Buy signal. That took us out of the short at 26.41 for a potential profit of 4.71 points per share. The Buy signal would have been filled at that level.
On the DMA_Histogram it is clearly in Purple territory, but the bars are Green and moving upward. The DMA with Purple on top is sloping nicely downward and speaks to the possibility of another short position. Yet, with the Histogram showing shorter Green bars it could easily move up to the DMA at 28.57.
Week before last I said: "I still think there is more room on the downside." And that's what 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 5 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 Buy signal that was confirmed on 10/16/23 at 93.65. Price is now at 94.74 for just 1 point potential profit.
The DMA_Histogram had been at, or very near, zero for a couple of weeks, echoing the thought that we are going nowhere. This week the DMA_Histogram is below the zero-line but is Green and getting shorter. That alone tells me that this market wants to go up.
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 : 10/20/2023 07:02pm Symbol "HUM", Bar Type = Daily Last Close = +521.15 : the close Friday was at +521.15. Change from last Sunday (+/-) (+505.97) = +15.18 Purple or Gold on top? Gold UOB = +528.59 UIB = +519.42 MidLine = +504.13 MidAngle = 504.13 LIB = +488.85 LOB = +479.68 Above/Below 21-day MAV = 501.30 - Above Above/Below 55-day MAV = 488.70 - Above Above/Below 200-day MAV = 490.19 - Above Color of DMA_H = Gold All Time High = +571.30 Percent = -8.78% on 11/03/2022 241 bars ago.
HUM is flirting with going down, and has confirmed a SunnyBands Sell signal on 10/18/23 from 521.69. Price closed at 521.15 on Friday which gave us less than a point of potential profit.
Gold is on top, which tells me that the move down is likely only to go to the DMA at 504.76.
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 : 10/20/2023 07:02pm Symbol "AMZN", Bar Type = Daily Last Close = +125.17 : the close Friday was at +125.17. Change from last Sunday (+/-) (+129.79) = -4.62 Purple or Gold on top? Purple UOB = +138.07 UIB = +135.21 MidLine = +130.59 MidAngle = 130.59 LIB = +125.97 LOB = +123.11 Above/Below 21-day MAV = 128.47 - Below Above/Below 55-day MAV = 133.98 - Below Above/Below 200-day MAV = 116.37 - Above Color of DMA_H = Purple All Time High = +188.65 Percent = -33.65% on 07/13/2021 573 bars ago.
Price was down on the week, by -4.62. Price is straddling the LIB and looks to be headed for the LOB at 122.66.
Price is now at 125.17 for nearly 3 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 drop to the LOB at 123.10 which is below the 21-day MAV giving more impetus to the down move.
The Weekly the DMA_Histogram is Red and getting shorter, heading toward the zero-line where it will then turn Purple. Crossing the zero-line will mean more downside movement.
TSLA
The stats for TSLA are:
Created : 10/20/2023 07:03pm Symbol "TSLA", Bar Type = Daily Last Close = +211.99 : the close Friday was at +211.99. Change from last Sunday (+/-) (+251.12) = -39.13 Purple or Gold on top? Purple UOB = +268.62 UIB = +259.51 MidLine = +244.03 MidAngle = 244.03 LIB = +228.54 LOB = +219.43 Above/Below 21-day MAV = 249.18 - Below Above/Below 55-day MAV = 249.06 - Below Above/Below 200-day MAV = 214.67 - Below Color of DMA_H = Purple All Time High = +414.50 Percent = -48.86% on 11/04/2021 492 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 -39.13 this week and now is below the Flat DMA with Purple on top and sloping downward. The DMA_H is showing a strong Purple basr. This is likely to pull TSLA on downward.
On the Weekly chart we had a big Red candle that straddled the Flat DMA and price went on down. Now the LOB lies at 183.52 (current price is 211.99) and that's where price is likely to go next.
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 : 10/20/2023 07:02pm Symbol "ARKK", Bar Type = Daily Last Close = +36.03 : the close Friday was at +36.03. Change from last Sunday (+/-) (+37.77) = -1.74 Purple or Gold on top? Purple UOB = +41.65 UIB = +40.61 MidLine = +38.87 MidAngle = 38.87 LIB = +37.13 LOB = +36.09 Above/Below 21-day MAV = 38.59 - Below Above/Below 55-day MAV = 41.11 - Below Above/Below 200-day MAV = 40.66 - Below Color of DMA_H = Purple All Time High = +159.70 Percent = -77.44% on 02/16/2021 675 bars ago.
ARKK is now (on the Daily) at +36.03 having moved down by -1.74 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 Purple is showing on the DMA_H and getting longer, indicating the possibility of a more downside activity.
The Attractor at 45.48 is just above the UOB and could serve as a future target but probably not for a long time. 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 under the Flat DMA which is now Purple on top. The first Purple bar has shown up on the DMA_Histogram. All of this speaks to more negativity.
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 now Purple. Last time I said: "...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." And that's what has happened.
This week she added 181124 shares of PACB, and 158508 shares of ACHR and sold 85374 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!
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 : 10/20/2023 07:03pm Symbol "MSFT", Bar Type = Daily Last Close = +326.67 : the close Friday was at +326.67. Change from last Sunday (+/-) (+327.73) = -1.06 Purple or Gold on top? Purple UOB = +337.80 UIB = +332.89 MidLine = +325.51 MidAngle = 325.51 LIB = +318.13 LOB = +313.22 Above/Below 21-day MAV = 323.43 - Above Above/Below 55-day MAV = 325.39 - Above Above/Below 200-day MAV = 302.49 - Above Color of DMA_H = Green All Time High = +366.78 Percent = -10.94% on 07/18/2023 67 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 curling over to sit on top of the Flat DMA. This week it is down -1.06, which isn't much, but it is in the down direction nevertheless.
Note, however, that we had a SunnyBands Sell signal that was confirmed on Friday at 326.67.
Chances are now we will head for the LIB at 317.55 for a few more points of potential profit.
On the Weekly chart price is right astraddle the Flat DMA. Still. 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 325.47 and a low of 332.73 for Monday. There is also a Strong Attractor overhead at 339.87 that could easily be a next target.
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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 Louis Navellier.
Oil
The stats for CL are:
Crude Light (CL) is up again this week by +1.61 points. We are in a SunnyBands Buy signal from 10/09/23 at 86.38 and are now up to 88.08 for about 1.7 points of potential profit.
However, on Friday SunnyBands gave a Sell signal, though it has not yet been confirmed. We'll see what Monday brings.
Price was sloping upward this week on a rising trendline. Friday's price touched the trendline on a red candle which is an alert that Monday might confirm the Sell signal.
On the Weekly price is caught in a solid Pennant formation with price neither going up nor down. When it breaks the red H/L of the Pennant we will know where it wants to go next.
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 : 10/20/2023 06:57pm Symbol "@BTC", Bar Type = Daily Last Close = +29,685 : the close Friday was at +29,685. Change from last Sunday (+/-) (+26,840) = +2,845 Purple or Gold on top? Gold UOB = +30,055 UIB = +29,156 MidLine = +27,730 MidAngle = 27730.18 LIB = +26,304 LOB = +25,406 Above/Below 21-day MAV = 27598.57 - Above Above/Below 55-day MAV = 27517.09 - Above Above/Below 200-day MAV = 27690.75 - Above Color of DMA_H = Gold All Time High = +71,225 Percent = -58.32% on 11/10/2021 489 bars ago.
BitCoin was up +2,845 points on the week in what some are calling a "flight to safety". I don't know it that's it, but certainly it can make funds transferring between foreign countries easier.
BTC is now in a Buy signal from 10/16/23 at 28,575 and with price now at 29,685 has a potential profit of 1,110 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. If indeed there is one.
The Weekly chart is moving upward off the DMA, which now has a positive Slope. (If you want the Slope Indicator click here and let me know.)
Last time I said: "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." And they are doing just that.
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. But, the DMA_Histogram has turned Green which might portend higher prices coming.
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 on the Monthly chart. Lots of indecision with the DMA_H barely registering, but mathematically in Purple and below the zero-line though turning Green.
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 before that was a Sell signal on 10/10/23 at 27,490. It closed on 10/16/23 at 28,575 (with the new Buy signal) for a 1,085 point loss.
It looks to me like BTC has room on the upside.
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 : 10/20/2023 07:02pm Symbol "ETHUSD", Bar Type = Daily Last Close = +1,604.40 : the close Friday was at +1,604.40. Change from last Sunday (+/-) (+1,558.45) = +45.95 Purple or Gold on top? Purple UOB = +1,708.48 UIB = +1,670.32 MidLine = +1,609.82 MidAngle = 1609.82 LIB = +1,549.33 LOB = +1,511.17 Above/Below 21-day MAV = 1599.27 - Above Above/Below 55-day MAV = 1653.59 - Below Above/Below 200-day MAV = 1745.31 - Below Color of DMA_H = Green All Time High = +4,867.81 Percent = -67.04% on 11/10/2021 507 bars 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 has touched the bottom of the rectangle again and is at the Purple DMA. Remember, this means congestion, not yield. I'm thinking we might penetrate the rectangle as the change in Slope is toward the upside.
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 above the 21-day MAV but still below the other two. That's a positive sign for price motion.
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. So far I see nothing but fear and consternation holding price in an indecision pattern.
Gold
The stats for Gold are:
Created : 10/20/2023 07:01pm Symbol "@GC", Bar Type = Daily Last Close = +1,994.4 : the close Friday was at +1,994.4. Change from last Sunday (+/-) (+1,941.5) = +52.9 Purple or Gold on top? Gold UOB = +1,982.0 UIB = +1,958.9 MidLine = +1,918.5 MidAngle = 1918.54 LIB = +1,878.2 LOB = +1,855.1 Above/Below 21-day MAV = 1899.90 - Above Above/Below 55-day MAV = 1928.71 - Above Above/Below 200-day MAV = 1985.03 - Above Color of DMA_H = Gold All Time High = +2,277.8 Percent = -12.44% on 09/06/2011 3055 bars ago.
Gold.
Gold is UP this week, by +52.9 points! 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.
Now we are in that same Buy signal and with price at 1,994.4 have 130 points of potential profit in the signal.
Price went right to the 50% retracement and on Friday bounced strongly so that it is now above the UOB and is still moving upward.
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.
However, the next VantagePoint prediction is for a move downward.
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 astraddle the Flat DMA. Slope is -1.97. In all likelihood price will move farther upward 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 down -4.31250 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 Sell signal from 10/16/23 at 111^11 and with price now at 108^15 that's just about 3 points 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.
Personally, I take them at their word: Rates will continue to increase until inflation is below 2%. What's so hard about understanding that?
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 contrary to 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 an up day for tomorrow with the high at 110^08 and the low at 107^04.
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