Sunday November 12, 2023 VOLUME 7 ISSUE 43
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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"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: Hima Reddy, 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!
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 Monday December 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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Want to try them out? Click Here for a FREE Trial of Sunny's Indicators. I will Personally walk you through Installation (Zoom) and explain to you EXACTLY how I use them in my day-to-day trading. I've been trading for 42 years and this is what I use Every Day. I don't hold anything back. The week of your Trial I personally will have another Zoom call with you during the Trial to walk you through trading them in the Live Markets. It's True White Glove Service.
"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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If you didn't Register and didn't attend the classes, you may want to access the Slides and Videos. For a modest fee, they are HERE. This is the best place to learn TradeStation's EasyLanguage.
Samuel K. Tennis is world-renowned as "Mr. EasyLanguage" as he was the lead programmer, designer and programmer of EasyLanguage when he was working for Omega Research, which changed its name to TradeStation in 2001.
Sam Tennis is offering EasyLanguage Mentoring Sessions. If you are interested, please fill out this little form.
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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 Hima Reddy, 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. I listen to Podcasts while I trade! You don't have to just sit there and do nothing else; listen to our 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.
Link to Sam Tennis' Products below. Link to Sunny's Products. NEW: Scan for bullish stocks.
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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
ALL NEW HAPPY HALF HOUR . TRADERS' NETWORKING . MONDAY DEC 4 at 1:15pm Pacific . ASK QUESTIONS . SHARE STORIES
VantagePoint ai Prediction for Tomorrow
Click Here to attend a Free informative presentation.
The Dow closed at +34,283.10 Friday, up about 200 points on the week after a dramatic week preceding. The VantagePoint prediction for Monday is for a higher day with a higher high and higher low. The predicted high is 34,431 and the low is 34,042. That's a range of over 388 points on the day.
The two longer-term averages are above the zero-line, but are weakening. The short-term MAV dipped below the zero-line and bounced back upward. That's a bit of a mixed message.
On the SunnyBands of the Dow price muved from the Lower Outer Band (LOB) sharply last week to the UOB where it now STILL stands. The week was several days of choppiness going up, down and sideways.
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 Crypto 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 the S&P 500. He posts it on Monday afternoons, so it will be updated then. Come back and re-load (CTRL-R or F5) to see it.
http://www.NEoWave.com
SunnyBands Implications Dow Jones
Dow Jones
The stats for the Dow are:
The Dow finished the week at +34,283.10 after a week of tiptoeing around the UOB all week. Monday thru Wednesday were "sharply" sideways all day while waiting for Fed Chairman Powell to make his previous statements known once again. Then the market went down on Thursday and back up, even higher, on Friday.
Last time I said: "My Facebook post of the potential down draft might be premature. If we don't make it decisively above the 21-period MAV we will head down again. But if we decisively break the 21 it's on up to the skys. Or at leat to the next Attractor at 35,352." At this point it would appear that the next phase it to up "up."
There is a long Head & Shoulders pattern on the daily chart that projects the next movement to be above 36,000.
Notice the 3 MAVs on the chart. Right now we are above all 3 MAVS which are all 3 very near each other on the chart. The close of Friday put price right on the UOB, which is a strong sign for tomorrow as it attempts to go above that level.
Last time I said: "Purple is on top for now but the DMA_Histogram lines are Green and getting shorter, which could easily turn to Gold and Bullish." And now they have. Gold is on top in the DMA as well as the Histogram.
There was a Buy signal on 10/31/23 at 33,052 and with price now at 34,283 it has 220 points of potential profit in it.
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 but is Green and turning up. As it gets shorter it is more likely to turn Gold and go above the zero-line for more movement upward.
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 previous sell signal got 486 points of potential profit before being reversed to a long signal.
We are now in a Buy signal from 33,052 on 10/31/23 and with current price at 34,283 we have a potential of 1,231 points of profit in it.
The slope of the DMA is now at a sharp +87 degrees, showing the last 3 MidLine event have sloped sharply upward, even though price itself is pretty much sidewayw.
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. We shall see. The market broke the 21-period MAV last week and could be heading on up.
The next upside target is overhead at 34,576 at the UOB. The next downside target is at 31,490, 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. We could easily move up to the trendline or to the lower trendline. It would make sense for the monthly Dow to move up to the upper Trendline at about 34,080 and test that level before it decides to reflect off that or break through. These next few weeks will be very telling.
On the Weekly Dow chart, price is not only above DMA, it has Gold on top and is very near the UIB.
Looking again at the Dow Daily chart, price sits now at the UOB and could easily push beyond that this week. HOWEVER, we have some very important Earnings Reports this week, specifically relating to consumer spending for stocks like WMT, M and TGT.
Note that I had a Bear at the top of this newsletter for a while and now I've changed it to a Bear dueling a Bull. I'm not confident we are really in a Bear or a Bull 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.
The Podcasts of Hima Reddy, 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. And after that whom would you like to see next?
S&P 500
Along with the DOW, the ES was up somewhat... +54.50 this week. Last week it was up, up, up in anticipation of the Fed speaks, but then the reaction was negative -- expected. But it wasn't really very bad, which makes me think we have farther up to go.
In the overnight market this evening the @ES is trading up +4 at 4,380.
The ES is well above the up-sloping DMA now with Gold on top, also showing on the DMA_Histogram as strong Gold bars, and moving upward with the possibilty of going above the UOB, where it sits right now.
The current SunnyBands signal is a Buy that popped above the LIB on 10/31/23 at 4,212 and continued right upward. Price is above the UOB siightly at 4,424 for a potential of 212 points potential profit per contract so far.
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 it's largely Bullish. Very few of the symbols listed show up in Red or Purple. To get yours, jump to 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 54 stocks that meet the conditions this week (44 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 54 stocks that qualify, while there were only 44 last week. It's turning Bullish as the number increases.
Stocks
Created : 11/10/2023 04:52pm Symbol "META", Bar Type = Daily Last Close = +328.77 : the close Friday was at +328.77. Change from last Sunday (+/-) (+314.60) = +14.17 Purple or Gold on top? Gold UOB = +326.80 UIB = +321.05 MidLine = +311.67 MidAngle = 311.67 LIB = +302.29 LOB = +296.54 Above/Below 21-day MAV = 312.11 - Above Above/Below 50-day MAV = 308.05 - Above Above/Below 200-day MAV = 259.61 - Above Color of DMA_H = Gold All Time High = +384.33 Percent = -14.46% on 09/01/2021 552 bars ago.
META was up this week by +14.17 points to land at 328.18.
We got a SunnyBands Buy signal on 10/30/23 at 302.66 for a clear 25 points of potential profit.
Price is above all 3 MAVs and now above the UOB in a Bullish configuration. Price has moved sideways since mid-July and needs to break out now. The next Fibonacci level above current price is at 382, which needs to be tested.
META has been stagnant in its movement since mid-July. In classic Technical Analysis we could call this a lateral Flag which is typically resolved in the direction of the flagpole, which in this case would mean UP.
The overhead Attractor lies at 382-388 which would be a very nice run up!
On the Weekly chart price has been moving inside the SunnyBands channel going sideways for about 15 weeks. It could go either way, but I'm voting for UP, on a breakout of the Flag.
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.
NVDA is moving along similarly to META, sideways, since mid-July. In August we posted an all-time high and that must be broken before we go up farther.
This week was moving up nicely but has not yet posted a new all-time high, so the next movement is in question. Will we break out of the sideways channel and make new highs or will we retrace back down to the lower edge of the channel? The Earnings Report date for NVDA is Nov 21, 2023 and we'll depend on this for the next direction.
Last week, on the Daily chart, we gained +33.30 points on NVDA. Not as much as the prior week, but still respectible.
We are above all 3 MAVs, which is Bullish. Price is currently at 483.99 after than run up. Again we have a Flag formation that is likely to resolve in the direction of the flagpole: up..
There is a Strong Attractor above current price, at 504.97. That would be another 20 or so points up.
A SunnyBands Buy signal occurred on 11/01/23 at 423.25 and price is right now at 483.99 for a potential profit of over 60 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 personally.
Now let's consider this coffee company: SBUX (Starbucks).
The stats for SBUX are:
SBUX gained +1.68 points on the week resting at 103.87. That's a gap up from the LIB right to the UOB! Now, on this week, we've stagnated at the UOB and dropped below it. We have a potential Sell signal but it has not yet been confirmed. Direction Monday will give us the next piece of the puzzle.
We are now in a SunnyBands Buy signal generated by the surprise move upward to the UOB. Slope went from 0 degrees to +33 degrees in one explosive candle.
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 were going nowhere. Last week the DMA_Histogram shot up from Purple to Gold in one candle. Too slippery to catch on that gap up. But, it has gone on up from that level, though not a lot. Next week will be telling.
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 : 11/10/2023 04:51pm Symbol "HUM", Bar Type = Daily Last Close = +493.11 : the close Friday was at +493.11. Change from last Sunday (+/-) (+477.01) = +16.10 Purple or Gold on top? Purple UOB = +532.12 UIB = +519.99 MidLine = +501.06 MidAngle = 501.06 LIB = +482.13 LOB = +470.00 Above/Below 21-day MAV = 506.92 - Below Above/Below 50-day MAV = 493.41 - Below Above/Below 200-day MAV = 490.92 - Above Color of DMA_H = Purple All Time High = +571.30 Percent = -13.69% on 11/03/2022 256 bars ago.
Last time I said: "HUM is flirting with going down, and has confirmed a SunnyBands Sell signal on 10/18/23 from 521.69." And it did just that, down to the LOB, where it bounced.
This week we are up from the low on 11/02/23 by +16.10 points, which also generated a Buy signal from the LOB near the DMA. Those of you who have had instruction from me know that when the confirmation comes and the DMA is Flat, I don't take the trade if the distance from Price to DMA is too small to catch. When the DMA is Flat I don't "expect" price to go much beyond the DMA.
Purple is on top and the DMA is now very Flat at -4.57 degrees. The lines in the Histogram are shallow, but Purple. The Flat DMA is right above price, as is the 21-day MAV. We'll need to break through the 21-day MAV to go higher. Price is still above the 55- and 200-day MAVs, which is a positive.
I also said: "The next upward move could be to the Attractor above at 540 OR the LIB at 477.60. And it dropped as low as 473. Darn close!
AMZN
The stats for AMZN are:
Created : 11/10/2023 04:48pm Symbol "AMZN", Bar Type = Daily Last Close = +143.56 : the close Friday was at +143.56. Change from last Sunday (+/-) (+138.60) = +4.96 Purple or Gold on top? Gold UOB = +141.36 UIB = +139.15 MidLine = +135.15 MidAngle = 135.15 LIB = +131.15 LOB = +128.94 Above/Below 21-day MAV = 132.74 - Above Above/Below 50-day MAV = 133.07 - Above Above/Below 200-day MAV = 119.39 - Above Color of DMA_H = Gold All Time High = +188.65 Percent = -23.90% on 07/13/2021 588 bars ago.
The all-time high is above us at 185, which is still a long way up. The UOB lies at 161.91. We could easily make it to the UOB, but the DMA is almost Flat (not quite) and Purple is on top. These conditions will need to be broken to make more movement to the upside.
Price was up on the week, by +4.96 points.
We were previously in a SunnyBands Buy signal from 10/27/23 at 127.74. With price now at 143.12 we gained over 15 points of potential profit.
Remember, those who have lessons with me, if Gold is on top in the DMA and the Slope is rising, don't buck the trend.
We are still in this Buy signal waiting for more information.
Gold is on top and price is right above the UOB, though slowing its movement upward. There is an Attractor overhead at 146 that could easily be the next target.
Last time I said: "If I had to guess, I'd say that price will make a run for the UIB at 135." And that's what happened. It even did better than that.
The DMA_Histogram is Gold and rising, having surpassed the previous DMA_H high of September. The Slope Indicator changed its direction and has now flattened out. I don't yet know what this means as it's a new Indicator and I've only been watching it for a few weeks. I'll update youu when I know more. Right now the Slope is at a moderate 24 degrees, so it could easily get steeper.
TSLA
The stats for TSLA are:
Created : 11/10/2023 06:07pm Symbol "TSLA", Bar Type = Daily Last Close = +214.65 : the close Friday was at +214.65. Change from last Sunday (+/-) (+219.96) = -5.31 Purple or Gold on top? Purple UOB = +240.12 UIB = +232.23 MidLine = +218.39 MidAngle = 218.39 LIB = +204.56 LOB = +196.67 Above/Below 21-day MAV = 219.97 - Below Above/Below 50-day MAV = 241.67 - Below Above/Below 200-day MAV = 220.87 - Below Color of DMA_H = Green All Time High = +414.50 Percent = -48.21% on 11/04/2021 507 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 -5.31 this week and now is sitting right under the Flat DMA which still has Purple on top. To me this always is "be careful" as there could be congestion here. The LOB is at 196.67 and the UOB is at 240.12, and we are half way between.
There was a SunnyBands Sell signal on 11/09/23 at 209.98. Now we are at 214.48 for about 5 points of potential loss. It doesn't happen often, but sometimes it does.
On the Weekly chart we had a big Red candle 5 weeks ago that straddled the Flat DMA and price went on down. Now we are down a bit more, but not yet to the Flat DMA at 234. It looks like that could be the next target.
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 : 11/10/2023 04:49pm Symbol "ARKK", Bar Type = Daily Last Close = +39.73 : the close Friday was at +39.73. Change from last Sunday (+/-) (+40.44) = -0.71 Purple or Gold on top? Gold UOB = +41.36 UIB = +40.07 MidLine = +37.98 MidAngle = 37.98 LIB = +35.89 LOB = +34.60 Above/Below 21-day MAV = 37.44 - Above Above/Below 50-day MAV = 39.46 - Above Above/Below 200-day MAV = 40.81 - Below Color of DMA_H = Gold All Time High = +159.70 Percent = -75.12% on 02/16/2021 690 bars ago.
ARKK was down -0.71 point this week. Her chart looks just like the general market chart: Up on gaps the previous week and then sideways this week.
Last time I hinted "...but the Weekly looks weak." After a week of strong upmoves that week it's been sideways to down this week. The Slope is still positive and Gold is on top, but to me have a SunnyBands Sell signal on Thursday at 39.09. Price is right now at 39.62 for a small potential loss. It looks to me like it will drop to the DMA at 37.98 this coming week.
The Attractor at 45.48 is still 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 a positive note, price is very near, if not almost touching, the 200-day MAV. If that happens it could easily porten more upward movement.
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 (Daily) at the bottom of the chart is now Purple. HOWEVER, the DMA is now sloping at 7.03 degrees and about to turn Gold. That could also cause a continuation of the upward movement.
This week she was picking up "deals." Though she did Sell 711824 shares of DKNG and 170656 shares of ROKU she also bought: PACB, TTD, TXG, U, RXRX, and NTLA.
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 : 11/10/2023 04:52pm Symbol "MSFT", Bar Type = Daily Last Close = +369.67 : the close Friday was at +369.67. Change from last Sunday (+/-) (+352.80) = +16.87 Purple or Gold on top? Gold UOB = +361.84 UIB = +357.16 MidLine = +348.36 MidAngle = 348.36 LIB = +339.55 LOB = +334.87 Above/Below 21-day MAV = 341.52 - Above Above/Below 50-day MAV = 332.31 - Above Above/Below 200-day MAV = 310.76 - Above Color of DMA_H = Gold All Time High = +370.10 Percent = -0.12% on 11/10/2023 0 bars ago.
MSFT (closing at +369.39 up by +16.87 on the week) is now above all 3 MAVs. This is very Bullish. Not to mention that price activity was not only up sharply last week during the market gaps, but has continued up this week--and strongly. We are now above the UOB and, of course, Gold is on top in the DMA and Slope is 61 degrees positive.
It would be nice if that is a harbinger of things to come for the overall market. Remember the market leads the economy by 6 - 9 months. Food for thought.
Last time I said: "Now it is making up for lost time by stretching back up toward the UOB and the Attractor overhead at 366." And it broke the Attractor by 3 points to the upside!
Note, however, that we had a SunnyBands Sell signal that was confirmed on Thursday at 327.89. And immediately reversed by a Buy signal on 10/30/23 at 337.31. Now, with price at 369.39 we have 32 points of potential profit.
Don't ever try to lead the market. It is always right.
VantagePoint shows another high, though not an amazing one. The predicted high is 370.79 and the low is 366.27 for a range of 4.51 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:
+77.17 Crude Light (CL) is down this week by -3.34 points. We are in a SunnyBands Sell signal from 10/23/23 at 85.49 and are now right at 76.66 for almost 9 points of potential profit. That's an improvement from last week.
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 in a Sell which is doing well.
However, there is a potential Buy signal at Thursday's candle. We shall see if it's confirmed tomorrow.
On the Weekly price is now below the DMA which barely has Gold on top. It appears ready to drop through the zero-line and turn Purple. Then it's on down from there. We are still well above historical prices.
Regular gasoline at the pump in my neighborhood is $4.59/gal. That's lower than I've seen it for a long time.
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 : 11/10/2023 04:43pm Symbol "@BTC", Bar Type = Daily Last Close = +37,555 : the close Friday was at +37,555. Change from last Sunday (+/-) (+34,805) = +2,750 Purple or Gold on top? Gold UOB = +37,934 UIB = +36,793 MidLine = +34,932 MidAngle = 34931.50 LIB = +33,070 LOB = +31,929 Above/Below 21-day MAV = 33295.48 - Above Above/Below 50-day MAV = 29790.10 - Above Above/Below 200-day MAV = 28979.60 - Above Color of DMA_H = N/A All Time High = +71,600 Percent = -47.55% on 11/10/2021 504 bars ago.
BitCoin was up +2,750 points on the week (to +37,555) in what some are calling a "flight to safety". I don't know if that's it, but certainly it can make funds transferring between foreign countries easier. Especially in a time of international wars.
The week was largely up all week. We are making some recoveries.
On the Weekly chart we are above the UOB on a strong week that stayed above the UOB for several days.
In the after-hours market BTC is down -75 to 37,480.
The Weekly chart is strong with price now above the UOB and Gold on top. On the DMA Histogram Gold bars are showing and rising, giving further impetus to rising prices. The Slope is also strongly positive. (If you want the Slope Indicator click here and let me know.)
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 now above the DMA (though Purple is still on top) and has broken above a very long-term Attractor at 35,816.
We are a long way from the all-time highs of 70,000 during the irrational exhuberance phase.
Bitcoin, on the Daily, just moved up every day this week. In the overnight market that pattern has been slightly reversed by a slight drop in price. We'll see what tomorrow brings.
Prior to this week has put in new local highs taking us as high as 36,575. And now we above that at 37,425!
I'm hanging on to my Etherium!
On the Daily chart, we got a Sell Signal on Thursday that was confirmed on Friday and contraverted on Monday. At that point it reversed to a Buy signal at 34,765.
With price currently at 37,465 we have a potential 2,700 points of profit.
Don't you wish you were getting all these signals? Two options: 1. Interested in Daily updates? 2. Get your own SunnyBands.
On the Daily chart price has soared above the long-term Attractor that is at 35,816. It's possible this line could later act as support, but we'll see.
It's possible that this meteoric rise could slow down in an Exhaustion Gap taking it down to the Attractor at 35,816 or even lower. Temporarily.
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 : 11/10/2023 04:50pm Symbol "ETHUSD", Bar Type = Daily Last Close = +2,092.87 : the close Friday was at +2,092.87. Change from last Sunday (+/-) (+1,829.84) = +263.03 Purple or Gold on top? Gold UOB = +2,061.53 UIB = +1,996.89 MidLine = +1,886.11 MidAngle = 1886.11 LIB = +1,775.33 LOB = +1,710.69 Above/Below 21-day MAV = 1772.19 - Above Above/Below 50-day MAV = 1680.11 - Above Above/Below 200-day MAV = 1764.19 - Above Color of DMA_H = Gold All Time High = +4,867.81 Percent = -57.01% on 11/10/2021 522 bars ago.
In the after-hours market ETHUSD is down -37.83 points to 2,054 after having moved sharply upward this week.
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 beyond the yellow rectangle channel again, and is about half way up. The top of the rectangle is at 2,041. ETHUSD broke into the bottom of the rectangle over 2 weeka ago and is NOW ABOVE the upper edge of the rectangle. Price movement made it to a new local high, breaking above the Attractor at 2,048.
On the DMA_H the lines have been Gold and then Red and then Gold and Red again. That speaks to a weakening in the trend.
Price is now above all 3 MAVs. That's a positive sign for price movement.
Gold is on top with the DMA_H showing Red lines above the zero-line, signalling we could be in for a bit of a correction.
To get further insight we'll look at the Weekly chart next. Price is, like on the Daily, above the yellow rectangle. Price touched the UOB this week and even closed above it. Slope is at 87 degrees, saying we could still go up farther, and Gold is now on top on the DMA_H.
Gold
The stats for Gold are:
Created : 11/10/2023 04:46pm Symbol "@GC", Bar Type = Daily Last Close = +1,937.7 : the close Friday was at +1,937.7. Change from last Sunday (+/-) (+1,999.2) = -61.5 Purple or Gold on top? Gold UOB = +2,019.4 UIB = +2,000.2 MidLine = +1,967.8 MidAngle = 1967.80 LIB = +1,935.4 LOB = +1,916.2 Above/Below 21-day MAV = 1977.59 - Below Above/Below 50-day MAV = 1938.55 - Below Above/Below 200-day MAV = 1984.18 - Below Color of DMA_H = Red All Time High = +2,277.8 Percent = -14.93% on 09/06/2011 3070 bars ago.
Gold.
Gold closed Friday at +1,998.5, up +4.1 points on the week.
Now we are still in the Sell signal from 10/31/23 at 1,994.3 and with price Friday at +1,937.7 we have 56 points of potential profit in the short signal.
Price went right to the 61.8% retracement, and then peaked on up to the UOB and retraced slightly. This week it dropped back down to the 50% retracement level and a bit beyond.
VantagePoint has been correctly predicting this movement all along for weeks. They suggest the market will move down tomorrow with a predicted high of 1,946 and low of 1,925.
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 +36 degrees denoting a positive outlook for gold long-term. In all likelihood price will move farther upward unless price bounces on or breaks through 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 : 11/10/2023 04:47pm Symbol "@US", Bar Type = Daily Last Close = +113.37500 : the close Friday was at +113.37500. Change from last Sunday (+/-) (+113.65625) = -0.28125 Purple or Gold on top? Gold UOB = +116.21797 UIB = +114.54574 MidLine = +111.82181 MidAngle = 111.82 LIB = +109.09788 LOB = +107.42565 Above/Below 21-day MAV = 110.97 - Above Above/Below 50-day MAV = 113.76 - Below Above/Below 200-day MAV = 124.20 - Below Color of DMA_H = Gold All Time High = +185.12500 Percent = -38.76% on 03/09/2020 928 bars ago.
Bonds are down -0.28125 on the week to close at +113.3750 on Friday. Price is above the Gold DMA which is Flat, at 1.78 degrees. Gold is showing strongly on the DMA_Histogram (DMA_H).
Probably price will bounce on the DMA and continue on up, at least to the UIB which lies at 114^26. The UOB is at 116^07. That's another potential target.
We are above the 21-day MAV now, but below the other two. It's still not Bullish.
We are currently in a Buy signal from 10/23/23 at 109^31 and with price now at 113^09 that's just about 4 points of potential profit.
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The Fed Speak was not particularly eventful. THe market moved down that day and back up the following day.
Caution is advised, however, as another rate increase could still be in store, as the conditions of the economy continue to reveal themselves. Too many folks are now saying that rate increases are over--all behind us. Don't be too sure.
The Fed will Speak again the 12th and 14th of December. 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 below the zero-line but has turned Green which could be an early sign of upward pressure.
There is another Attractor on the Monthly chart at 104^11 which became the next level down if interest rates are again raised.
Back to the Daily chart: on Friday we entered a confirmed SunnyBands Sell signal from 113^12.
VantagePoint is predicting another down day for tomorrow with the predicted high at 115^12 and the low at 112^12.
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