Sunday night November 21, 2021
No new free presentations coming up at this time. I'm saving all of December to prepare for the Strategy Forum. Save the dates Jan 11, 18, 25 and Feb 1 2022! All New "Strategy Trading in 4 Parts" by Sunny Harris. FREE. Register here. I'm only allowing 30 registrants and it's already half full. 10am PST four Tuesdays in a row. Session 1: What is a Strategy and How Do I Get One?; Session 2: Designing Your Strategy; Session 3: Testing & Optimizing Your Strategy; Session 4: How to Trade a Strategy
QUICKLINKS: VantagePoint | Last Week I said | Dow | ES | SunnyBands Implications | Trading Room | Automated Strategy | Multiple Timeframes | Stocks | BitCoin | Gold | Bonds | Diatribe | DEFINITIONS| Quips & Quotes
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 Dow Jones 30 Industrials ($INDU). Looks like VP is predicting more downward action tomorrow. All 3 MAVs are below the zero-line and pointing downward. Wait til you see the SunnyBands explanations below!
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 I didn't see signs of captitulation and impending bearishness, except for the very short term red and purple cells in the RadarScreen. Nevertheless, we have been moving downward on the Dow for the whole week. BUT, we have hit major support as of Friday and I'm still bullish. HOWEVER, the ES is not following the same path. Look below. It is going essentially sideways to upward this past week. The Dow is composed of 30 industrial stocks. The ES is 500 broad stocks and the NQ, which has been going straight on up, is largely tech stocks! I'm still bullish overall.
Headline today reads: "ServiceNow, Nike Leads 5 Stocks Near Buy Points on Positive Tailwinds." More bullish news from IBD. They are regularly announcing stocks near buy points. Is this bullish? Or topping behavior? I subscribe; maybe you would like to. (I'm not connected with them in any way.)
SunnyBands Implications
Dow Jones
The Dow, which consists of 30 industrial stocks, is currently down on the week with price currently sitting at a strong Attractor from a high in August. It is below another Attractor, but yet while it is below the DMA Midline, the Gold DMA line is still on top. Nevertheless, the DMA lines are turning downward and the DMA_H signalled bearishness on 11/9/21. And, the Dow has been down since then. It was a good call.
The Upper-Outer SunnyBand (UOB) is currently at 36,418 on the daily chart. The Dow closed below that Friday at 35,601. In a previous SSS I said that 36,000 was a very strong Natural Number and I expected a retracement to that level. It is currently below that value and yet I'm looking for a bounce. The NQ and ES are both still relatively strong.
The Gold line is still on top, but has turned down a bit, though it is still flatish. One thing we all should remember is to return to Basics. Traditional Technical Analysis is still the basis of all trading. Know your stuff. Read 733 trading books, like I have. It enhances your trading. I comment on a weekly basis, but I trade on a 5-minute basis. It's much more accurate.
Last week I said that any correction should only got to the UIB or possibly the DMA, but it dropped below that to the LIB (Lower Inner Band). With Gold on top we are likely to see a bounce, but Gold is turning downward and it could just as easily go on down. The Dow, that is. The other 2 indices are still strong.
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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 ES is sitting on a red candle, downward, but still touched a new all-time high as it explored touching the UOB SunnyBand. It didn't quite make it, but it was still a new high. It retreated from there to close below the 161.8% Fibonacci extension. (If you don't know Fibonacci stuff, now is the time to learn it.) Maybe I should do a YouTube video on the subject. Comments? Exhuberance continues. Yes, the manufacturing heavy Dow is moving down, but I think there is divergence between it and the NQ/ES. I'm expecting those two to continue on upward.
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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. Note that all of the timeframes are bullish! Some are bullish turning down, but they are all bullish. BTW, this is measured on the ES.
You need to have these indicators for your own, to take your trading to the next level.
Call me (1-760-908-3070) and I'll send you a 7-day FREE trial of these indicators for you to see for yourself. Don't want to call? Just fill out your questions and desires on my Comments form and I'll get right back to you.
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) and at the far right 3 short-term averages calculated with my DMA smoothing function. I call this one RedLite-GreenLite.
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 bullish stocks would appear on top. Notice that there are very few NQ stocks that are purely bullish. Most are bullish turning down, or bearish. That's scary and reason to be very careful this next week.
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 touching the outer limit of the rectangle that has delimited its movement in the past. That would say that AMZN is either going to breakout of its channel, or that it is now going back down, since it's still the most tradeable. Up and down. That's what AMZN has been doing. It could be that it is in a 3-wave (Elliott Wave) of a 3-wave and that it would now experience a corrective 4-wave followed by a 5-wave breakout. Or, not. All I do is follow along. I don't try to lead the market.
The cycle arcs shown on the chart would say that there is room on the upside.
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. TSLA's SunnyBands Midline is flat to down. Yet price has touched and bested the Midline. I bought in at the low on 11/10/21. I always buy more when TSLA moves down. So, yet again I'm sitting on more profits with this one. The question today is will it break above the Midline? The DMA_H has signalled bullishness, so that's a good sign. Will it go straight up? Probably not. Nothing ever does. It's all backing and filling and more runs to the upside.
Cathy Wood's ARKK ETF. ARKK is holding more TSLA in its fund than any other single stock, which speaks to its week-long downturn. She is now below her Attractor that lies at 114.36 as she's at 113.20. The next Attractor beneath current price lies at 107.38. If you broaden the view and look at more long-term prices, she's been essentially sideways for quite some time. The chart shows Pennant formations that delineate congestion. I'm guessing that price will tick on down to the lower SunnyBand and possibly beyond. I sold my ARKK some time ago and am now looking for a place to get back in.
I wish her only the best. She's a very smart woman. But, I think she needs SunnyBands, don't you?
Buy the DMA_H and SunnyBands for yourself. They are life savers. I totally rely on them for my own trading. You can have these 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. If you are reading this I would like some suggestions! Click here to leave me a Comment.
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 week before last. Then this last week it continued on down to the LIB SunnyBand where it bounced just a bit. The DMA Midline is flat to down which suggests lower prices. The LOB is at 53,785 which is likely where it is going. The DMA_H has been bearish since 11/10/21 from 66,075. It's now at 57,900. I'm still holding my Etherium for the long-term.
Gold
Gold finally broke out of its long standing pennant formation (orange trendlines). It hit the UIB SunnyBand and retreated, but is still above the pennant formation. That's a positive sign for the price of gold, but not a positive sign for inflation, which continues to climb in the real world. Check the price of gas and the price of groceries. I'm in the process of importing the prices of gasoline at the pump so I can do a chart with Oil and Gasoline on the same chart. I suspect that we are being charged more than it costs.
Bonds
Bonds hit the down sloping trendline that I drew many weeks ago. See chart above. The DMA_H signalled bearishness on 9/10/21 and is still weak. There is a hammer candle at current price telling me that price may continue on down. (See Resources > Reference on MoneyMentor.com for candle patterns.) The Linear Regression Channel is still in charge and the UOB of SunnyBands is at 161.38 which would indicate a breakout if it happens. The SBands Midline is flat which to me indicates "do nothing." Yet Gold is still on top as shown in the chart above. This is a weekly chart, showing a much longer view than I usually view. But, while I'm watching for a breakout, I'm cautious that the Trendline will not be broken. Stay on your toes.
DEFINITIONS
MY DIATRIBE FOR THE DAY
ALL NEW! SunnyBands for MetaStock. Give me a call or shoot me an email if you are interested. Does anyone here use MetaStock? If so, please let me know. If so, then I'll work on my other indicators for MetaStock. What would you like to see work on MS? DMA_H, PHW? Comments.
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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Products
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Quips and Quotes
"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.]
"I want to thank you for your books. I have read them all and it has been what has inspired me to have confidence in what I have been trading. This month alone I'm currently up $80k." -Tim A.
"I'm getting a big kick out of the [Sunny]bands this morning. Typically I'm using ParSR and Floor Trader Pivots. It's great when it all comes together. And as you said, your's [sic] [SunnyBands] picks the tops perfectly." -Frank Z.
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.
Archives
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