Sunday September 25, 2022 VOLUME 6 ISSUE 31
if you haven't already, Watch the Live Demo Here. The LIVE DEMO was Tuesday Sept 20 at 10amPT. No sales pitches, only Education and Support. Whether you do have or do not yet have SunnyBands, PHW, or DynamicMAV, you will not want to miss this expose'.
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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.
Sunny J. Harris has been a professional trader since 1981 (through all the Bear and Bull markets) and author of "TradeStation Made Easy!" She began using TradeStation & EasyLanguage (at the time "System Writer") since 1987 and has been a TradeStation Beta Tester ever since.
Sunny and Sam have been friends for more than 30 years and are partners in writing our upcoming "EasyLanguage Object-Oriented Programming Made Easy!" It looks like, at this point, it will be about another month before it goes to press. If you want an autographed copy, click here.
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September 6, 2022 I gave a talk at TimingResearch. You'll hear and see how I look at Fibonacci and Elliott Wave with SunnyBands. Click to View.
Podcast: The Sunny Harris Show! with Sam Tennis
If you haven't yet had a chance, please take a look at my Podcast: "The Sunny Harris Show! with Sam Tennis". It's FREE. Listen while you Trade.
The most recent Episode is an enlightening visit with David Kosmider (timingresearch.com) who brings us free gurus talks and seminars. Get to know him personally! The podcast is not to miss. Before that were legends 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 include Wally Olopade of RightSide Trading, Joe Krutsinger and now Anka Metcalf. I listen to Podcasts while I trade! You don't have to just sit there and listen and do nothing else.
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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VantagePoint ai Prediction for Tomorrow
VP clearly projects the anticipated direction and magniture of tomorrow’s market. You can use any symbol; I trade the EMini S&P.
My read of this chart tells me that all three MAVs are pointing downward and all well below the zero-line. That speaks of more bearish activity this coming week.
Friday's close was 29,590 with a low of 29,250 and a high of 29,956. The prediction for Monday calls for a lower high and a lower low.
Glenn Neely's S&P Prediction
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. Click on the link to visit his website. Notice that he called for this down move over 5 weeks ago, which happened and now he thinks we will continue upward until we hit the boundary line. Then we are in for some more downside action.
http://www.neowave.com
Last Time I Said:
"I'm inclined to think that we will break below 30,000 this coming week." And indeed we did just that. I'm thinking we will proceed on downward this coming week or two.
SunnyBands Implications
Dow Jones
The stats for the Dow are:
The Dow is not sitting right on the 20% retracement from its high. In fact, price dipped below the 20% retracement and settled with its close right on the line.
We are currently below all three MAVs, well below. In fact, price is under the LOB which speaks to lower prices as they move the LOB downward. Until be have a bullish bar (blue on my charts) that breaks above the LOB we are still going down.
The DMA MidLine is Purple and the DMAs are spead wide. We are below most of the Fibonacci retracements, but the 150% line is at 28,938 which is probably where we are going next.
The DMA_H is showing Purple, signifying no end to the downward slope yet.
S&P 500
The stats for ES are:
The DMA_H was Purple all last week. In fact, the sell signal came on 9/13/22 at a price of 3,950. Price is currently at 3,696. That's a tidy 254 points time $50 gives $12,700 potential profit. Great signal!
The Purple DMA is still on top which puts downward pressure on price action and might work to contain any further up move. On Who's On Top you can quickly see that Purple is still on top, and has been since 8/30/22, speaking to bearishness, or at least some congestion as we try to break further below the LOB.
The ES is now below all 3 MAVs and just kissed the LOB on Friday. It went lower than the Dow , dropping below the 20% retracement, on down to 23% down.
Lots still depends on the state of the Recession and what the Fed does next to Interest Rates. The Fed raised interest rates 75 basis points this time. Let's see how the market continues to reacts to that.
RadarScreen of Stocks
Here again, back by popular demand, is my RadarScreen of Stocks:
I sorted on the DMA Direction this time. Notice that there are very few bullish stocks and lots of Red bearishness. Note also how few symbols have all green in the MAV_3_Lines. Very few are bullish.
Stock Scan for those Above all 3 MAVs
Notice that, of the 3,600 stocks I scan, there are now only 89 stocks above their 3 MAVs. Last week there were only 252 stocks above all three.
Stocks
KDP: Keuring Dr. Pepper
The stats for KDP are:
When I publicly recommended this stock in David Kosmider's TimingResearch"Lightning Round #1" price was down at 34.94. It is now sitting at 37.08, down -0.09 points from last week. This position is still profitable despite the overall negative market.
There are lots of Pennant formations on the chart. Those signify lots of sideways action. I trade the Pennants by waiting for a breakout to one side or the other from the red horizontal lines on the top or bottom of the Pennant. So, we are looking for a breakout now. And in fact we broke below the low of the most recent Pennant.
I, an avid coffee drinker, (I'm having a cup while I write this) believed that this non-alcholic beverage vendor would continue to thrive. Keuring is a great coffeemaker and very popular. They even have one at my hairdresser's.
Price dropped last week, though barely, and is now below all 3 MAVs. I'm still bullish on KDP.
AMZN
The stats for AMZN are:
Last Close = +113.78 : the close Friday was at +113.78. Change from last Sunday (+/-) (+123.53) = -9.75 Purple or Gold on top? Purple UOB = +137.33 UIB = +133.54 MidLine = +126.75 MidAngle = -55.91 LIB = +119.97 LOB = +116.18 Above/Below 21-day MAV = 126.93 - Below Above/Below 50-day MAV = 130.05 - Below Above/Below 200-day MAV = 138.75 - Below Color of DMA_H = Purple
AMZN, is below all 3 MAVs.
Price is now at 113.90, down almost 10 points from the previous Friday. It is now below all 3 MAVs. The LOB lies at 116.18, with price at 113.78, just below the LOB. Personally, I think there is more room on the downside.
TSLA
The stats for TSLA are:
Last Close = +275.33 : the close Friday was at +275.33. Change from last Sunday (+/-) (+303.35) = -28.02 Purple or Gold on top? Gold UOB = +315.84 UIB = +306.14 MidLine = +291.38 MidAngle = -35.47 LIB = +276.62 LOB = +266.92 Above/Below 21-day MAV = 290.74 - Below Above/Below 50-day MAV = 287.26 - Below Above/Below 200-day MAV = 292.24 - Below Color of DMA_H = Red
Cathy Wood's 5-year projection for TSLA (chart below) is still at 4,600 at this juncture; she lowered her projection a few weeks ago. Several other pundits I keep track of are suggesting a much higher price also. And they did a 3:1 split last week. That should be bullish. And now price has been moving once again upward on the week, along with the rest of the market.
Closing Friday at 275.33, down 28 points, TSLA was down on the last 3 days of the week, and yet still ahead of the rest of the market. In fact, TSLA is now below all 3 MAVs and is touching the LIB. That leaves it to go on down to the LOB which lies at 266.92 . I'm anticipating price will move on down to that price
VantagePoint is calling for a high of 285.66 tomorrow and a low of 266.68 (an outside bar).
This is still my favorite stock. But, at this point I'm a trader, not an investor yet. TSLA is sitting on top a down-sloping DMA and could thus go on down this coming week.
Seems to me people should be flocking to TSLA with gas prices high still. Thankfully it has dropped to $5.10/gal in San Diego, California.
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.
Notice that I think TSLA is still a good buy for lots of fundamental reasons (not the least of which is lower prices and a huge run-up potential.) Nevertheless, TSLA has dropped more that 33% from its high, but is up from its low.
ARKK
The stats for ARKK are:
Last Close = +37.83 : the close Friday was at +37.83. Change from last Sunday (+/-) (+42.58) = -4.75 Purple or Gold on top? Purple UOB = +47.30 UIB = +45.64 MidLine = +42.73 MidAngle = -25.99 LIB = +39.83 LOB = +38.17 Above/Below 21-day MAV = 42.18 - Below Above/Below 50-day MAV = 45.19 - Below Above/Below 200-day MAV = 58.11 - Below Color of DMA_H = Purple
Months ago I said I thought ARKK price would tick on down to the LOB and possibly beyond. It did just that. But, currently she is below all 3 MAVs. ARKK is now up from its low of 35.10 to current price of 37.83, but is below last week's price. She's recovering, but not very well.
Who's On Top at the bottom of the chart is still Purple, but it has been Light Purple, which tells me that we can expect a bit of choppiness in here. Light Purple also tells me that the DMA MidLIne is Flat. But now it is solid Purple for the last 3 days. I'm expecting lower prices.
When the DMA MidLine is Flat I watch closely for Price to tell me the next direction. Don't jump the Flat DMA
When you think about your own trading success, take a look at what one of the most notable traders (Cathy Wood) has done.
ARKK added 171,849 shares of DNA and 596,547 shares of VERV to her holdings as of Friday's report.
I do think, still, that she over-trades. And bottom fishing is a risky business.
MSFT
Last Close = +237.92 : the close Friday was at +237.92. Change from last Sunday (+/-) (+244.74) = -6.82 Purple or Gold on top? Purple UOB = +266.55 UIB = +261.12 MidLine = +251.22 MidAngle = -58.70 LIB = +241.33 LOB = +235.90 Above/Below 21-day MAV = 254.91 - Below Above/Below 50-day MAV = 267.28 - Below Above/Below 200-day MAV = 284.36 - Below Color of DMA_H = Green
MSFT (closing at 237.92 Friday) is still below all 3 MAVs. Well below! That's certainly a negative sign. The market is a wild ride these days. MSFT made progress to the upside, but got sideswiped by a couple of gap down days.
Price is now below all the Bands and below the 3 MAVs.
It is also riding below an Attractor at 242.31, which could cause price to continue its downward movement. Last time I said: "More likely it will break that Attractor and engage in more downside action." And that's exactly what has happened.
The long-term trendline now shows that MSFT is down about 32% from its all-time high. This is one of the reasons we are still in a Bear market.
Don't you think you should purchase the SunnyBands and DMA_H for your own? Sure helps Profits! Are you serious about making money trading? Then you can't do without them.
On the Weekly chart MSFT doesn't look so good. The weekly price is stiiting on the same Attractor which comes from activity much farther back in time. Only really good news will bring this one back up in a meaningful way.
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! 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.
Please join my Podcast (The Sunny Harris Show! with Sam Tennis). It's a lot of fun getting to know the Gurus from a personal standpoint and hear their predictions for the coming market. I listen to podcasts while I trade.
Oil
The stats for CL are:
Crude Light (CL) on a Daily chart (closing at 78.74 Friday) is down -6.02 points this past week. It keeps moving down toard my goal of $80/barrel. And now it has exceeded even my expectations. Since the high in March it has continued to decline, with respect to its trendline.
The DMA Histogram is showing Purple all week, which speaks to even lower prices, and it's still looking down to me.
Last time I said: "Fibonacci Lines suggest it might go on down to $86." And that's right where we went, and even lower. The next Fib retracement shows it going on down to 78.
Yet, on the monthly chart we are nearing a Flat DMA MidLine which is likely where it will go. The MidLine sits at 88.07 on the Daily chart. Both the Monthly chart and the Daily look like we will go further down.
Putin 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 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:
Last Close = +18,745.00 : the close Friday was at +18,745.00. Change from last Sunday (+/-) (+19,575.00) = -830.00 Purple or Gold on top? Purple UOB = +22,770.18 UIB = +21,770.62 MidLine = +20,198.60 MidAngle = -89.16 LIB = +18,626.59 LOB = +17,627.03 Above/Below 21-day MAV = 19844.05 - Below Above/Below 50-day MAV = 21572.70 - Below Above/Below 200-day MAV = 33324.45 - Below Color of DMA_H = Purple
BitCoin is down 52% since its all time high of 70,040 on 11/10/21. That's quite an improvement from last time when it was down 70%.
Nevertheless, the chart looks flat and sideways since June. Not dropping, not rising.
Purple is on top on the DMA with the Histogram showing Purple this past week.
I'm writing this on Sunday, and in after-hours trading it is up 155 points, at 18,900.
Time Before Last I Said: "Price is below the Flat DMA MidLine, and will probably drop to the LIB at 20,648 and possibly on down to the LOB at 19,685." It's there right now. Last week it dropped to 18,480 and recovered somewhat only to then fall farther to close Friday at 19,575.
Ethereum
The stats for Ethereum are:
Last Close = +1,301.14 : the close Friday was at +1,301.14. Change from last Sunday (+/-) (+1,435.92) = -134.78 Purple or Gold on top? Purple UOB = +1,739.72 UIB = +1,641.59 MidLine = +1,476.12 MidAngle = -87.53 LIB = +1,310.65 LOB = +1,212.52 Above/Below 21-day MAV = 1527.74 - Below Above/Below 50-day MAV = 1618.46 - Below Above/Below 200-day MAV = 2319.81 - Below Color of DMA_H = Purple
As you know, I haven't held any BitCoin. Instead, I have had ETHUSD (Ethereum) since its low in May 2021. I'm still holding ETHUSD and intend to hold it for years just to see what happens. Currently it is below my buy-in point. Why not sell? Because I'm in this one for the long-term and expect it to take off at some point. If it doesn't, oh well. It was an interesting experiment.
The chart of ETHUSD is down somewhat but is out stripping BTC. It is solidly above its low yet is turning downward. Price is full of doji bars near, but not touching, the LOB. I'm thinking we have further to go on the downside.
Gold
The stats for Gold are:
Last Close = +1,655.60 : the close Friday was at +1,655.60. Change from last Sunday (+/-) (+1,683.50) = -27.90 Purple or Gold on top? Purple UOB = +1,767.96 UIB = +1,744.44 MidLine = +1,706.47 MidAngle = -77.40 LIB = +1,668.49 LOB = +1,644.97 Above/Below 21-day MAV = 1711.64 - Below Above/Below 50-day MAV = 1745.09 - Below Above/Below 200-day MAV = 1850.44 - Below Color of DMA_H = Purple
Gold. Gold continues to move down, now at 1,647.40 in the after-hours session. We continue to move downward on this symbol with no respite in sight.
The Midline is at 1,706.47 the LOB is at 1,644.97. The MidAngle is negative. Anything could happen with this one, but it looks to me like it could go farther down to me. Looking at the monthly chart, we have gone down for each of the last 6 months. NOTE: Glenn Neely (of NEoWave Forecasting, and our 4th Podcast) thinks Gold has a lot lower to go. It's a riveting Podcast!
Bonds
The stats for @US are:
Last Close = +128.78 : the close Friday was at +128.78. Change from last Sunday (+/-) (+131.16) = -2.38 Purple or Gold on top? Purple UOB = +135.81 UIB = +134.37 MidLine = +131.92 MidAngle = -27.92 LIB = +129.46 LOB = +128.02 Above/Below 21-day MAV = 132.87 - Below Above/Below 50-day MAV = 137.27 - Below Above/Below 200-day MAV = 144.66 - Below Color of DMA_H = Green
Bonds are down on the week for a loss of -2.38 points.
In after hours trading bonds are down 7/32 of a point.
On the monthly chart bonds are down even more than last time, by 47% since the all time high at the end of March.
In fact, price is currently sitting right on a strong Attractor from 2017. That could support further downside action.
Bonds go down, yields go up. In fact, the 2-yr / 10-year Treasuries yield curve is now inverted again; that is the yield on the short-term treasuries is less than the yield on the longer-term. Looks like we are expecting even more inflation and higher interest rates, probably by 0.75 - 1.00 points this next time.
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DMA_H - Sunny"s DynamicMovingAverage in histogram format, using sophisticated math to smooth out the whipsaws.
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