Sunday night November 7, 2021
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QUICKLINKS: VantagePoint | Last Week I said | Dow | ES | SunnyBands Implications | Trading Room | Automated Strategy | Multiple Timeframes | Stocks | BitCoin | Gold | Bonds | Diatribe | DEFINITIONS
VantagePoint ai Prediction for Tomorrow
VantagePoint clearly projects the anticipated direction and magnitude of tomorrow’s market. One can use any symbol; I trade the EMini S&P short-term and select stocks for my long-term portfolio. VantagePoint clearly projects the anticipated direction and magnitude of tomorrow's market with incredible accuracy. One can use any symbol; I trade the EMini S&P short-term and select stocks for my long-term portfolio. Whether you trade stocks, options, futures, forex, ETFs or crypto, you too can benefit from VantagePoint's predictive artificial intelligence. I highly recommend attending one of their FREE live trainings. No obligation. To save your seat for the next FREE live session, please CLICK HERE.
Tonight's VantagePoint Prediction is of the Emini S&P 500 (ES). The Dow followed the projection perfectly for last week. VantagePoint claims that their prediction is good for the next 1-3 days. The moving averages were sideways and far apart, but above zero, and the prediction was for an up market. And it was just that: 7 days up! The prediction for tomorrow (+1-3 days) is up again, with a tad of downside dipping below the open of Friday. To me it looks like another up week, but I'm expecting a bit of turbulence as the market continues to make new highs.
Check the home page of this website daily to keep up with the daily predictions from VantagePoint.
While this prediction is good for tomorrow, wouldn't you want to know every day of the week? Of course, the best thing is to run VantagePoint every afternoon, not just on Sunday nights, as I do for this newsletter. And you can always look at the home page of MoneyMentor to see the current VP chart.
Last Week I Said
Last Sunday I said that the next Attractor on the upside lies at 36,200 and the Dow did better than that, closing Friday at 36,327! Next Fibonacci line above current price is at 37,012 ad above that is 38,715. Reaching the 37k line is only 600+ points. No matter the naysayers, I'm looking for an extended rally. If you will take a minute and look at the Dow on semi-log scaling you'll see that the curve upward is not nearly so straight up. In fact it is meandering and not so steep after all. I believe that it can continue for a much longer time.
It seems that lots of pundits have been calling for a crash. One email I got last week said that their service will tell me the exact price and date from which the market will drop significantly. Yeah right. Cathy Wood debunks it saying we are far from a bubble. And I agree with her.
SunnyBands Implications
Dow Jones
The next Attractor on the upside lies at 37,012, and 37,249 is the square of 193 and 193 is a prime number. Looks like a good goal to me!
The next Attractor on the
The Upper-Outer SunnyBand (UOB) is currently at 36,224. We are above that now, at 36,328. I am expecting the Dow to march on up to 37,000 and through and then stumble a bit. It looks still like we are in a 5 of 3 wave, but I'm not convinced of the count, and that would call for some correction. The idea is to stay very nimble and hope for the best but anticipate the worst. Friday's bar was a gap up on the daily chart, which is typical of 3-waves. Despite the wave count I am anticipating higher highs as Investors' Business Daily has started putting all the stocks that have broken out on their buy list. That should cause a lot of weak hands to come in at this level and increase the buying. At that point it is like picking figs out on the edge of the branch.
The Gold line is strongly on top on the DMA. The DMA_H histogram signalled bullish on 10/5/21 at 34,314 and continues bullish, so I'm expecting more bullishness also based on that, too. Get your indicators here. Everything has been updated as of the last couple of months, so let me know if you want the updates.
Price is riding the SunnyBands right on upward. The UIB was tested last week but barely penetrated, bouncing right on up the next day. This all speaks to increasing prices. Since that kiss of the UIB price has stayed on top of the UOB. Any correction should only go to the UIB or possibly the DMA (which is at 35,637.) If history repeats, any drop to that level would result in more buying.
Speaking of higher prices, have you seen that TSLA (and others) announced price increases to accomodate higher shipping and materials costs? And prices didn't flinch. In fact, TSLA is soaring on up. TSLA stumbled a bit on Thursday and Friday right at the 38.2 line. I'm expecting a bit of profit taking and ultimately higher prices still.
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I am still predicting Dow 50,000 but not just yet. We still have some downs and ups to explore before we get there.
S&P 500 (ES)
The last close on the ES is another new all-time high close with the ES at 4,690.25, with the high for the day at 4,711.75!
Price is marching right on up with prices between the two upper bands, not dropping through the UIB.
The gold line has been on top since 10/19 at 4,511. Even just trading the crossovers of the purple and gold lines would have been a nice profit of 179 ES points times $50 per point yielding $8,950 per contract in less than a month.
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Since this is a weekly missive, we miss the daily changes to the indicators. Send me an email if you are interested in daily updates. I can have them sent to you directly from my trading platformto your email or your phone. Or better yet, order SunnyBands and DMA_H for your own computer. Of course, like all my products, they work on intraday charts just a well. All symbols, all timeframes.
To get a long-term perspective, let's look at the various positions called for by the consensus of timeframes. xxx
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Stocks
In this section, I like to take a peek at a few of my favorite stocks. I trade what I know. I use Amazon in real life, so I trade AMZN. I use Verizon as my phone carrier, so I trade VZ. I use Microsoft software so I trade MSFT and so on. Let's first look at the RadarScreen view of a few stocks:
The table above is my main research tool. It not only has my DMA_H predictions but also shows my PHW indicator (yellow).
When I sort on PHW from highest to lowest tells me which stocks are the most tradable. A stock that just moves slowly from A to B is an investment, not a tradable (to me). I'm looking for wide swings from which to profit, not just buy-and-hold. This is how I decide what stocks to buy and which to trade.
This week I have sorted on the SDMA and Dir so that the most bearish stocks would appear on top. Profit from it if you trade stocks. Notice that even when the bearish stocks (on top) yield to the bullish stocks, they are bullish but turning down. If I were basing my trading on this daily information I would be very cautious with so much bearishness on the RadarScreen.
The columns just past the middle of the RadarScreen window show a colorful area that tells me at a glance the configuration of my DMA_H on all the stocks in this portfolio. (This indicator is called DMA_R_H, meaning DynamicMovingAverage RadarScreen Histogram.) Green Bearish \/ means the stock has been bearish but is now turning up. Purple \\ means primarily bearish. (These are the colors in the DMA_H and SunnyBands DMA. So, "purple" means Purple is on top in the DMA.) Gold Bullish // means the stock is moving upward. Red Bullish /\ means the stock has been going up but has now turned downward.
Of course, you can sort on any or several of these columns with this indicator. Color coding things makes it easy for me to spot opportunities at a glance. If you would like this indicator for your RadarScreen click here.
From this look (above) at the RadarScreen (like a spreadsheet) I can sort by SDMA, which shows me all the bullish stocks on top with Dir showing me which are moving aggressively upward and which have been moving up but have now turned down or the PHW which shows me the most tradable stocks. Call me, I'll explain it. 1-760-908-3070 PST.
Click Here to see and listen to the DMA_H Live with BingTicks!
AMZN, is still the stock with the highest PHW, and it is now breaking away from the DMA Midline. In fact, it has penetrated the UIB and its high touched the UOB Friday. The Attractor above lies at 3,748 and price is currently at 3,519. That's more than 200 points up, but it would not surprise me to see AMZN stretch up to that level in the current exhuberant environment.
Cathy Wood's 5-year projection for TSLA (below) is 4,000 at this juncture. She may raise or lower her projection, but this is it currently. But who knows. Cathy Wood's ARKK ETF is not doing so well lately. See chart below. TSLA has continued to make new highs but while making a new high on Thursday (to 1,243.49) it closed lower than its open. And Friday was actually a bit of a down day, closing at 1,222.09. The low of the day touched the UIB and was just under the Attractor that lies at 1,229. I think it's just some profit taking. I've even thought of securing some profit myself. But, I'm holding on for the long run on this one.
Buy the DMA_H and SunnyBands for yourself. They are life savers. I totally rely on them for my own trading. indicators for yourself. They are a great trading tool!
Send me a note telling me what stock you would like to see analyzed next week.
BitCoin, Gold, Bonds
BitCoin
BitCoin reached the Attractor at 65,000 (as I anticipated a few weeks ago), went on up to a high of 68,030 and stumbled back down to 59,185 or so, right at the SunnyBands midline. BTC moved right on up to the all-time high, closing on Wednesday at 67,680, and then stumbled. As I suggested last week, it stumbled right down to the Midline at 58,990 and started recovering. It is now at 61,380 on a closing basis. I am still anticipating higher prices, but as you know markets weave a meandering path; they don't just go straight up to a projection. Lots of hits and misses along the way.
Gold
Gold is still going in fits and starts. The current action is within a tight pennant formation out of which it needs to break. Conventional technical analysis would have it dropping lower since the price direction prior to the pennant was down. TA says it should follow the previous trend. I disagree. I think it is a large pennant forming off the prior up trend and that it will break out to the upside.
The price of gold has always be the equivalent of a nice men's suit. It was true when gold was $32/oz and a suit was then the same. It has held true for years and years. And it's still true. Now we are experiencing inflation as cargo ships sit in harbors and materials of all kinds are more expensive. Suits and thus gold, will get more expensive also.
Bonds
Bonds are sitting on an Attractor I drew weeks ago, at 156-30/32. From the high in early 2020 back to the lows of 2019 is a move of about 60 points. Half that is 30, and the current price is about half way up from those lows. That 50% retracement often is a strong Attractor. Thursday and Friday last week were up days, though not up to the moves of the prior two weeks. I don't know what to tell you about Bonds. They look kind of wishy washy to me.
DEFINITIONS
MY DIATRIBE FOR THE DAY
ALL NEW! SunnyBands for MetaStock. Give me a call or shoot me an email if you are interested.
https://www.metastock.com/traders-conference?pc=eq-moneymentor I am speaking at the MetaStock Conference on 11/17 at 2pm PST, so I needed my primary indicator to work with their software. TOPIC: "What's This I Hear About Trading Futures?" for the uninitiated who want to learn to trade futures.
Here's what it looks like:
You've got to see it to believe it. In the latest version of SunnyBands I have implemented the Commentary feature. By turning on Commentary (the little icon at the top right of your tool bar) and then clicking on a bar, it will display the information for that bar AND use the corresponding colors. It's a great tool which I use to see my projected targets and stops. Call me if you want a free 7-day trial. And if you already have SunnyBands, let me know you want the free update. With my products, all updates are free forever.
Comments?
IMPORTANT: Nothing in this newsletter is an offer to buy or sell securities of any type, nor is it advice to make any financial decisions. You are in charge of your assets and only you know your risk tolerance and how much you can afford to lose. Never invest/trade with money you cannot afford to lose. This information is intended as educational only. DISCLOSURE.
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"Thanks very much; I do like hearing from you [, Sunny]. Thanks to SunnyBands I now have a net worth above $1.25 Million." -Don T. [Editor's note: Don started 3 years ago with a $25,000 account. And, he told me yesterday that his account is now well over $2 Million.]
SunnyBands - SunnyBands are a extension of my DMA. The two lines above and two lines below the purple and gold DMA alert me to where the market is going. They are constructed from ATR bands on either side of the DMA.
DMA_H - Sunny"s DynamicMovingAverage in histogram format, using sophisticated math to smooth out the whipsaws.
Of course, my indicators work on any symbol, any time frame. In my own trading I use 1-min charts of the ES.
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Sunny has been teaching others to trade almost as long as she has been trading. Helping struggling novices over the hurdles is a passion of hers. Sunny has won awards for her teaching and consulting, being #1 in several categories. Sunny can teach you how to use TradeStation & MultiCharts and EasyLanguage and PowerLanguage, TC2000, VantagePoint, NinjaTrader, Genesis Navigator, and MetaStock so you don’t spend months struggling on your own. If you have a concept you want programmed, she can do it for you or teach you how to do it yourself. Click Here.
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