Sunday October 29, 2023 VOLUME 7 ISSUE 41
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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Take a look at the NEW Slope Indicator on these charts. Green when it's moving up, Red when it's moving down, Yellow highlights when it's sideways.
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NEW Podcasts "Dropped": Brad Matheny, Alexander Elder, 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: Hima Reddy.
More Sunny Harris interviews: Podcasts with Etienne Crete's Desire to Trade (#2). 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.
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EasyLanguage Forum
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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.
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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!
Vol I: Programming Guide and Vol II: Reference Guide NOW AVAILABLE on Amazon.com. Just email me a copy of your proof of purchase and I'll send your Free Code 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 Episodes are with Brad Matheny, Dr. Alexander Elder, 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 Hima Reddy . 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.
Don't miss these Podcasts! These have been delightful and enlightening interviews into the lives of legendary traders and their take on the markets.
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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
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VantagePoint ai Prediction for Tomorrow
Click Here to attend a Free informative presentation.
Tonight I'm displaying a different view of VantagePoint. This chart shows 9 months instead of 3 and thus you can see the longer-term view of our current trend. Take note of the Attractor I've drawn at 31,571 which is the lows in March 2023. It may drop right there soon, or wheedle its way down, but I do think it will get there.
The Dow closed at +32,418 Friday. The VantagePoint prediction for Monday is for a lower day with a lower high and a lower low. The predicted high is 32,663 and the low is 32,217. That's a range of over 445 points on the day.
All three MAVs are below the zero-line and still heading downwards.
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 even more than last week by -709.23 as it moved down to the Lower Outer Band (LOB) and shows no sign of slowing down. Last week price dropped below the Flat DMA and continued dropping.
Check out my Facebook posts to see that I predicted this drop several weeks ago.
Notice the 3 MAVs on the chart. Right now the 55-day MAV is approaching the 200-day MAV. If it crosses below th 200- then that will signify a Death Cross pattern.
Last week I said: "The question now is: will it continue making downward progress and drop to the Attractor at 32,654..." And price is now at 32,417, right below the Attractor I pointed out last week. I don't know about you, but I think we have farther down to go.
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 997 points lower for a potential profit of 997 points.
When this SSS comes out on Sunday night, you will have all the Current Signals. But, they are only for the next day. Would you like to have these Positions and Signals EVERY DAY? I'm thinking about offering a Daily Update to SSS, but only if enough people are interested. ARE YOU INTERESTED? IF so, please let me know HERE. This is not a subscription yet, it's just for me to find out who's interested. And, please tell me what price point you would think is fair.
The DMA_Histogram is under the zero-line and has been Green and Purple this week and now has turned Purple as of Thursday, letting us know that Purple is on top on the DMA, and it is definitely 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 -89 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:
Instead of showing you the 30 symbol Dow index this time I'm showing you the S&P 500 ES futures contract. Note how far it has now dropped below the DMA and the 21-period MAV!
The DMA is Flat, denoting indecision, so it could just as easily pop back up to the DMA. The Fibonacci 23.6% line is at 3,955, which would be a sensible next target.
The next downside target after that is at 3,319, where the is also a Strong Attractor. 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 down-sloping 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. And we have an up-sloping trendline that could hold prices up. 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 sloping downward. And price is almost at the LOB. I think it could get there this next week.
Looking again at the Daily chart, price sits now at 32,417 which is right astraddle the Attractor at 32,558 and above the Attractor that lies at 31,527. It could certainly get there.
Note that I had a Dueling Bull and Bear at the top of this newsletter for a while and now I've changed it to a bear walking a tight rope of sorts. I'm not confident we are really in a Bear Market yet, so it will stay a struggle for now.
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.
We are currently in a Sell Signal from 10/18/23 that confirmed on the next bar at xx. With the Dow now at 32,417 that makes xx 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 Brad Matheny, 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. Hima Reddy coming Next! And after that whom would you like to see next?
S&P 500
Along with the DOW, the ES was down... -112.00 this week. It was every day but Tuesday, which was barely up.
In the overnight market this evening the @ES is trading up +12.75 at 4,150.25.
The ES is well below the Purple DMA now with Purple also showing on the DMA_Histogram, and moving down with the bars in the histogram getting longer. Another reason why I think it might go farther down.
Last time I said: "There is a pretty strong Attractor at 4,234 which could hold further downside movement. But it's not the most likely scenario." And indeed it wasn't. The market broke right through it.
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 4,148. That's a potential profit of 209 points per contract, or at $50 per contract = $10,450. In 2 weeks!
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.
I hear you saying that makes sense to me, but what does this chart say? Look in the SDMA and Dir columns. Purple means Purple is on top in the DMA; Gold means Gold is on top; Green means Purple is on top but price is likely changing direction; Red means Gold is on top but price is likely getting ready to go down.
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.
Note that this week there are only 17 stocks that qualify. Pretty bearish!
Stocks
Created : 10/27/2023 04:42pm Symbol "META", Bar Type = Daily Last Close = +296.73 : the close Friday was at +296.73. Change from last Sunday (+/-) (+308.65) = -11.92 Purple or Gold on top? Purple UOB = +329.83 UIB = +321.02 MidLine = +307.63 MidAngle = 307.63 LIB = +294.25 LOB = +285.44 Above/Below 21-day MAV = 311.21 - Below Above/Below 50-day MAV = 303.28 - Below Above/Below 200-day MAV = 250.85 - Above Color of DMA_H = Purple All Time High = +384.33 Percent = -22.79% on 09/01/2021 542 bars ago.
META was down this week by -11.92 points to land at 296.73.
Now, as of Fruday the 13th, we are in a confirmed Sell signal from 314.69. Price is currently at 296.77 this evening for a potential of almost 18 points so far.
Price is below the 21- and 55-day MAVs and on Thurssday hit the LOB and closed there. On Friday it bounced up to the LIB where it is now.
Before this week META had been moving nicely upwards again but now has moved down below the Flat DMA and has moved lower. Now Purple is on top and the "dash" below the zero-line is Purple. The Slope is negative though it has slowed down in it's 2nd derivative.
On the Weekly chart price has been moving inside the SunnyBands channel going sideways for about 13 weeks. Now that it has moved up and touched the Weekly UOB and pulled back. Last week I said: "I expect it to drop to the Weekly DMA at 291.95." In fact the low was 279.40 as it plowed through the DMA.
NVDA: Nvidia Corp.
I have removed KDP (I don't really need 2 coffee companies) and added Nvidia, which LOTS of folks watch. Even me. I hope you profit from the analysis.
Let's start out with a long-range analysis. NVDA, on the monthly chart, (you'll have to open it yourself on your computer) just got a confirmed SunnyBands Sell signal. Hmmm. The staple of so many portfolios is going down. The Attractor below current price is at 345.57. The Attractor above that is where price is right now resting. I hate to say it but it looks like we have more room on the downside. I like this stock and it's one that I trade.
Last week, on the Daily chart, we moved right down to the Attractor at 402.83 and price is resting there right now. Purple is on top on the DMA. That's negative.
We are below both the 21- and 55-day MAVs. The bars on the DMA_Histogram are Purple and getting longer. That too tells me price wants to go lower.
A SunnyBands Sell signal occurred on 10/13/23 at 451.61 and price is right now at 405.30 for a potential profit of over 45 points per share. Think about that! Shouldn't you be trading with SunnyBands? Free 7-day Trial with White Glove installation and orientation Zooms with Sunny.
Now let's consider this coffee company: SBUX (Starbucks).
The stats for SBUX are:
SBUX is down -2.17 on the week resting at +92.02.
We are now in a SunnyBands Sell signal that was confirmed on 10/26/23 at 92.67. Price is now at 92.02 for just about half a point potential profit.
If you are interested in getting these signals DAILY in addition to Weekly, please let me know.
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 has been Green and Purple both this week. That alone tells me that this market wants to go nowhere yet.
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 : 10/28/2023 03:25pm Symbol "HUM", Bar Type = Daily Last Close = +510.19 : the close Friday was at +510.19. Change from last Sunday (+/-) (+521.15) = -10.96 Purple or Gold on top? Gold UOB = +526.62 UIB = +519.27 MidLine = +507.14 MidAngle = 507.14 LIB = +495.02 LOB = +487.67 Above/Below 21-day MAV = 506.12 - Above Above/Below 50-day MAV = 490.53 - Above Above/Below 200-day MAV = 490.90 - Above Color of DMA_H = Red All Time High = +571.30 Percent = -10.70% on 11/03/2022 246 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 +510.19 on Friday which gave us aabout 11.5 points of potential profit.
Gold is on top and the DMA is Flat, which tells me that the move down is likely only to go to the DMA at +507.14 before bouncing, at least just a little bit.
Price is above all 3 MAVs. We are very near the 21-day MAV however. That could be used as a springboard an bounce up off of it. But, if it breaks the 21-day MAV there is a likelihood that it could go on down to the Attractor at 502 or beyond... even to the 200-day MAV at 491ish.
The next upward move coule be to 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 : 10/28/2023 04:01pm Symbol "AMZN", Bar Type = Daily Last Close = +127.74 : the close Friday was at +127.74. Change from last Sunday (+/-) (+125.17) = +2.57 Purple or Gold on top? Purple UOB = +138.97 UIB = +135.06 MidLine = +128.73 MidAngle = 128.73 LIB = +122.40 LOB = +118.49 Above/Below 21-day MAV = 127.78 - Below Above/Below 50-day MAV = 132.18 - Below Above/Below 200-day MAV = 117.28 - Above Color of DMA_H = Purple All Time High = +188.65 Percent = -32.29% on 07/13/2021 578 bars ago.
Price was up on the week, on a GAP on Friday, by +2.57. Price is now right at the seriously Flat DMA. Chances are there will be some upping and some downing around that price.
We were previously in a SunnyBands Sell signal from 10/18/23 at 128.13. Price went as low as 118.35 but we had no signal to exit at that point. If I had seen it nearly touch the 200-day MAV that may have been a hint. SunnyBands exited the trade at the DMA on Friday at 127.74 for +3.56 points of potential profit.
Now we have a SunnyBands Buy signal that will need to be confirmed before entry. Monday will tell us something.
Purple is on top but showing Green on the DMA_H, adding to the current Buy signal's confirmation, 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 make a run for the UIB at 135.
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.
Price touched, but is right now beneath, the Purple DMA. The Weekly DMA is Flat with Gold on top. But there are lots of Red bars on the DMA_Histogram.
TSLA
The stats for TSLA are:
Created : 10/28/2023 04:03pm Symbol "TSLA", Bar Type = Daily Last Close = +207.30 : the close Friday was at +207.30. Change from last Sunday (+/-) (+211.99) = -4.69 Purple or Gold on top? Purple UOB = +253.82 UIB = +244.28 MidLine = +227.33 MidAngle = 227.33 LIB = +210.38 LOB = +200.84 Above/Below 21-day MAV = 241.14 - Below Above/Below 50-day MAV = 246.99 - Below Above/Below 200-day MAV = 217.02 - Below Color of DMA_H = Purple All Time High = +414.50 Percent = -49.99% on 11/04/2021 497 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 -4.69 this week and now is below the Down-sloping DMA with Purple on top and sloping at -65 degrees. The DMA_H is showing a strong Purple bar. This is likely to pull TSLA on downward.
On the Weekly chart we had a big Red candle 2 weeks ago that straddled the Flat DMA and price went on down. Now the LOB lies at 182.10 (current price is 207.30) 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. But again, there's lots of room available on the downside, too.
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 : 10/28/2023 04:04pm Symbol "ARKK", Bar Type = Daily Last Close = +34.10 : the close Friday was at +34.10. Change from last Sunday (+/-) (+36.03) = -1.93 Purple or Gold on top? Purple UOB = +40.63 UIB = +39.44 MidLine = +37.45 MidAngle = 37.45 LIB = +35.47 LOB = +34.28 Above/Below 21-day MAV = 37.80 - Below Above/Below 50-day MAV = 40.15 - Below Above/Below 200-day MAV = 40.73 - Below Color of DMA_H = Purple All Time High = +159.70 Percent = -78.65% on 02/16/2021 680 bars ago.
ARKK is now (on the Daily) at +34.10 having moved down by -1.93 this week. It is now sitting well below the Purple DMA and 21-, 55- and 200-day MAVs. Price is touching the LOB and Purple is showing on the DMA_H and getting longer, indicating the possibility of a more downside activity.
The Attractor at 45.48 is now well 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 moving steadily downward with price right on thw Weekly LOB as well. There is an Attractor below at 31.56 which is likely the next target. The DMA_Histogram is under the zero-line, thus Purple, and getting longer. This speaks to further downside action.
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 105793 shares of BEAM, and 221361 shares of SQ and sold 195636 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 : 10/28/2023 04:05pm Symbol "MSFT", Bar Type = Daily Last Close = +329.81 : the close Friday was at +329.81. Change from last Sunday (+/-) (+326.67) = +3.14 Purple or Gold on top? Gold UOB = +344.73 UIB = +337.77 MidLine = +327.08 MidAngle = 327.08 LIB = +316.39 LOB = +309.43 Above/Below 21-day MAV = 327.48 - Above Above/Below 50-day MAV = 326.43 - Above Above/Below 200-day MAV = 305.09 - Above Color of DMA_H = N/A All Time High = +366.78 Percent = -10.08% on 07/18/2023 72 bars ago.
MSFT (closing at +329.81 up by +3.14 on the week) is now above all 3 MAVs. This is Bullish.
Just over 9 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 up a bit, which isn't a lot but it's in the up direction nevertheless.
Note, however, that we had a SunnyBands Sell signal that was confirmed on Thursday at 327.89. With the DMA Flat and Gold on top it is quite possible that the move might only make it down to test the DMA and bounce. We shall see.
Chances are now we will head for the LIB at 316.40 for a few more points of potential profit. But it could just as easily bounce back up to the UIB at 327.76.
Don't ever try to lead the market. It is always right.
VantagePoint shows another wild gyration for Monday, with a predicted High of 336.57 and Low of 324.28. That's a Range for the day of 12.29 points.
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Buy the DMA_H and SunnyBands for yourself. They are life savers. I totally rely on them for my own trading. And I want you to have the success you deserve! You can have these indicators for yourself. They are a great trading tool! And now I have a new indicator that plots a series of colored dots letting you see at a glance Who's On Top, Purple or Gold. Here's what it looks like. It is the series of Purple and Gold dots at the bottom of the chart.
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Oil
The stats for CL are:
Crude Light (CL) is down this week by -2.54 points. We are in a SunnyBands Sell signal from 10/23/23 at 85.49 and are now right at to 85.54 for a few cents of potential loss. I don't have a signal yet other than that.
Last week I said: "Friday's price touched the trendline on a red candle which is an alert that Monday might confirm the Sell signal." And Monday last week did confirm the Sell Signal. And we remain there.
On the Weekly price is sliding along sideways with the Flat DMA. Gold is on top but the lines on the DMA_Histogram are not very long, though they are Red. Price touched the Flat DMA on the Weekly on a Low, but closed a bit higher than that.
Regular gasoline at the pump in my neighborhood is $5.29, a little lower than it had been. Today I topped off my half-tank of gas at $52.30. Half a tank!
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 : 10/28/2023 04:19pm Symbol "@BTC", Bar Type = Daily Last Close = +33,955 : the close Friday was at +33,955. Change from last Sunday (+/-) (+30,060) = +3,895 Purple or Gold on top? Gold UOB = +34,778 UIB = +33,546 MidLine = +31,447 MidAngle = 31447.09 LIB = +29,348 LOB = +28,116 Above/Below 21-day MAV = 29592.14 - Above Above/Below 50-day MAV = 28077.60 - Above Above/Below 200-day MAV = 28414.78 - Above Color of DMA_H = Red All Time High = +71,600 Percent = -52.58% on 11/10/2021 494 bars ago.
BitCoin was up +3,895 points on the week (to +33,955) 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. It closed down on Friday by 465 points to +33,955.
This could be the start of a correction or it could be the pause that refreshes. The Slope is straight up, but there was a SunnyBands Sell signal on Thursday that was Confirmed on Friday at 33,955. We shall see what Monday brings.
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.) The DMA is Gold on top with a Slipe of 90 degrees (moving straight up the last 3 bars).
Time before last 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 is Flat, 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 Sell Signal on Thursday that was confirmed on Friday. Gold is on top with a Slope of 90 so it looks like price could go on up if it pops out of this Pennant formation or go down if it pierces the other Pennant boundary.
It looks to me like BTC has room on the upside and the downside as well.
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 : 10/28/2023 04:27pm Symbol "ETHUSD", Bar Type = Daily Last Close = +1,781.37 : the close Friday was at +1,781.37. Change from last Sunday (+/-) (+1,604.40) = +176.97 Purple or Gold on top? Gold UOB = +1,857.40 UIB = +1,793.68 MidLine = +1,688.67 MidAngle = 1688.67 LIB = +1,583.66 LOB = +1,519.94 Above/Below 21-day MAV = 1638.97 - Above Above/Below 50-day MAV = 1634.29 - Above Above/Below 200-day MAV = 1750.18 - Above Color of DMA_H = Gold All Time High = +4,867.81 Percent = -63.41% on 11/10/2021 512 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 popped into the yellow rectangle channel again, and is about half way up. ETHUSD broke into the bottom of the rectangle over a week ago and is now halfway up again. Price movement has stagnated just a bit and is now in a Pennant formation out of which it must break to go higher.
On the DMA_H we have had lots of Green and Purple bars switching back and forth, and now it is solid Gold this week.
Overhead there is a Fibonacci 61.8% line above current price at 1,902. The overhead Attractor is at 1,864. and that price has been met.
Price is now above all 3 MAVs. That's a positive sign for price movement.
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, inside the yellow rectangle. Price touched the UIB this week but did not close above it. With the DMA Flat it could easily bounce here and move up to the top boundary at 2,041. Slope is at 70 degrees. It sure looks like we could move farther up.
Gold
The stats for Gold are:
Created : 10/28/2023 04:30pm Symbol "@GC", Bar Type = Daily Last Close = +1,998.5 : the close Friday was at +1,998.5. Change from last Sunday (+/-) (+1,994.4) = +4.1 Purple or Gold on top? Gold UOB = +2,016.4 UIB = +1,993.9 MidLine = +1,952.8 MidAngle = 1952.81 LIB = +1,911.7 LOB = +1,889.2 Above/Below 21-day MAV = 1918.50 - Above Above/Below 50-day MAV = 1931.33 - Above Above/Below 200-day MAV = 1985.83 - Above Color of DMA_H = Gold All Time High = +2,277.8 Percent = -12.26% on 09/06/2011 3060 bars ago.
Gold.
Gold closed Friday at +1,998.5, up +4.1 points on the week.
Now we are still in the Buy signal from 10/09/23 at 1,864.3 and with price Friday at +1,998.5 have 134 points of potential profit in the signal. Now, on Friday we have a SunnyBands Sell signal that has not yet been confirmed. We'll see what Monday brings..
Price went right to the 50% retracement, and then peaked on up to the UOB and retraced slightly. I am still in the same Buy signal.
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:
Created : 10/28/2023 04:34pm Symbol "@US", Bar Type = Daily Last Close = +109.50000 : the close Friday was at +109.50000. Change from last Sunday (+/-) (+108.46875) = +1.03125 Purple or Gold on top? Purple UOB = +114.86194 UIB = +113.40917 MidLine = +111.18000 MidAngle = 111.18 LIB = +108.95083 LOB = +107.49806 Above/Below 21-day MAV = 110.79 - Below Above/Below 50-day MAV = 115.31 - Below Above/Below 200-day MAV = 125.20 - Below Color of DMA_H = Green All Time High = +185.12500 Percent = -40.85% on 03/09/2020 918 bars ago.
Bonds are up +1.03125 on the week taking yields even higher. The DMA_H has turned Green which generally signifies I should be looking for Long opportunities.
In fact, the Green DMA_H lines are getting shorter and appearing ready to cross the zero-line and progress into Gold territory.
We are currently in a SBuyell signal from 10/16/23 at 111^11 and with price now at 108^15 that's just about 3 points of potential profit.
Wouldn't you rather have these Signals every day instead of at the beginning of the next week? Sure would make timing easier. If you have any interested in this service, CLICK HERE to let me know.
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.
The Fed will Speak again this Wednesday. Will we go up in interest rates or down or hold steady? That's the big IF. No matter what the report is, we will have a reaction. Be on your toes for direction.
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. In fact price is below the LOB. The Monthly DMA_H is once again Purple speaking to further downside momentum which is contrary to the Daily situation which is indecision/sideways.
There is another Attractor on the Monthly chart at 104^11 which became the next level down if interest rates are again raised.
There are several "Fed member speaks" occasions in the next week and price is likely to drop to the next lower Attractor at 104^11.
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. But they are getting shorter, speaking to the bar rising above the zero-line and becoming Gold. When (if) that happens the line will be Gold and price is more than likely ready to go UP.
VantagePoint is predicting another sideways day for tomorrow.
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