Sunday January 22, 2023 VOLUME 7 ISSUE 04
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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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Sam is considering offering EasyLanguage Mentoring Sessions. If you are interested, please fill out this little form.
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") in 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 "The Definitive Guide to TradeStation's EasyLanguage & OOEL" It looks like, at this point, it will be about another month or two before it goes to press. If you want an autographed copy, click here. (Only in US mainland)
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 with Money Manager and Prognosticator Greg Morris and before that 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 him 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 include Norman Hallett, Robert Colby , Larry Pesavento, Linda Bradford Raschke, Ted Hearne and Carolyn Boroden. 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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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
VantagePoint ai Prediction for Tomorrow
Click Here to attend a Free informative class.
My read of this chart tells me that tomorrow is expected to be up from Friday's close. It almost looks like all 3 MAVs are below the Zero-line, but actually the Long-Term MAV is still (barely) above zero. The Short-Term MAV is turning upward and about to result in a Golden Cross if it does so.
The prediction for Monday calls for a high of 33,574 and a low of 33,058.
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. The chart in today's SSS is a 6-month view so you can see longer term predictions. Click on the link to visit his website.
Notice that he is calling for long-term much higher ES moves.
Here is the Monthly NEoWave projection of the S&P. He posts it on Monday afternoons, so it will be updated then.
http://www.neowave.com
SunnyBands Implications
Dow Jones
The stats for the Dow are:
The Dow is down -927.12 on the week, having been up four days straight the week before. Last week it was followed by a SunnyBands sell signal. Price went down to the LIB and turned in a SunnyBands buy signal which was confirmed today in the afterhours market by price action. The DMA is Flat which typically means price will only rise to that level before being repelled.
We are in a serious Sideways Channel.
If we continue in the channel, I expect the next move to be to the bottom band (LOB) at 32,778 and then bounce again from there.
Alternately, we could bounce from here (LIB) since the DMA is Flat, and attempt to penetrate the DMA MidLine at 33,550. The DMA has been essentially Flat since the beginning of December, which is murder for investors, but exciting for traders who want to just go back and forth.
In the afterhours market the YM is down 38 points, to 33,432.
Since the January '22 all-time high at 36,952 we have had up-moves (Bear Rallys) 4 times. Each time the public thought "oh yay, the bear market has ended." And, of course, that brought in buyers who pumped it higher, only to get fooled by resuming down moves. Who knows this time; maybe the downdraft is over, and maybe not. Larry Williams has put out his new 2023 Forecast, if you'd like to know where he thinks we are going next: www.ireallytrade.com and look under Reports to get yours. I already bought mine.
Keep in mind that markets never go straight up or straight down. They always move in fits and starts.
The Podcasts of Greg Morris, Linda Bradford Raschke, Anka Metcalf and Robert Colby are now posted, Enjoy these great interviews. Larry Pesavento coming Next!
We are currently Below the 21-day and 50-day MAVs and yet Above the 200-day. However, the 21-day and 50-day are now in a Death Cross! See my Glossary for the definition. That could result in more downside action.
The Purple and Gold lines of the DMA are very close together, resulting in a very narrow Histogram reading. Purple is now on top, but only slightly.
The DMA_Histogram signaled a Buy on 01/06/23 at 33,630 which was confirmed and then Closed on 1/17/23 at 33,860 for a potential profit of 230 points.
As for the week ahead, I'm guessing price will break the Flat DMA at 33,550 but probably not go much beyond that level, and will fall back.
S&P 500
The stats for ES are:
We are not recovering in the S&P 500 as well as in the Dow 30 Industrials. As a broader index the S&P has more volatile stocks in it. We are only down 7% on the Dow and yet are 17% down on the S&P. The NASDAQ, on the other hand, is down 32%, showing the weakness in tech stocks.
The DMA_H, on the Weekly chart of ES, has been Green for the last 13 weeks, not making upward progress AND TODAY TURNED PURPLE. The ES itself is touching the Flat DMA (Weekly) with Purple on top, where it has been for all of 2022.
To me that's Bearish. The only thing that will change my mind on the ES is for price to break above the Weekly DMA and head for the UIB.
Last week I said: "It looks to me like the ES is heading up to the nearly Flat DMA on the weekly chart and on the Daily chart it has already just peeked above the Flat DMA." And it has touched that Flat DMA as of Friday.
A Flat DMA is often penetrated slightly followed by a retreating failure. Only time will tell. I'm ready for it to go either direction this week.
Earnings Reports start this week with some important stocks reporting: TSLA, AMZN to name a couple I'm watching. Negative reports could easily affect the overall markets.
REPORTS THIS WEEK:
Quips & Quotes
Here are a few quotes from my users these past weeks:
"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.
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.
This configuration tells me that these timeframes are mostly turning down. The weekly ES is turning up as well as the daily, but the shorter term MAVs are turning down while the monthly is still down.
RadarScreen of Stocks
Here again, back by popular demand, is my RadarScreen of Stocks:
I sorted on the PHW column this time to see which symbols yield the best trading profits. Notice that the report is very mixed. We have lots of Gold, and Green and few Reds and Purples. The symbols that are Green show that they have been Bearish but are now Turning up. These are the ones I am watching for trading.
Stock Scan for those Above all 3 MAVs
Notice that, of the 3,600 stocks I scan, there are now 1063 stocks above their 3 MAVs. Last time there were 1094 stocks above all three. That's jus a few less than last time.
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 back to 34.70, which is a decline, and is now in a losing position if you held on and didn't take the sell signal. A SunnyBands sell signal was generated on 8/26/22 at 38.62 for a potential profit of 3.68 per share. The potential profit from the sell signal would now be 3.92 per share. We are still on a sell signal.
On the Weekly chart its progress is pretty much sideways. It is nearing an Attractor at 34.93 which may or may not hold any further downward progress. The exit signal (SunnyBands) came on 8/26/22 as price dropped below the UOB. That was at a price of 38.62 for a profit of $3.68 per share. I'm waiting for further buy signals from SunnyBands.
The chart shows lots of gyrations as it moves along it path. The DMA is now sloping downward and price is beneath it. This week's candle touched the LOB (Lower Outer Band) and may bounce from there. Of course, the other case is that it could go on down to the LOB (Lower Outer Band). On the Daily chart it is already there and the DMA is sloping downward.
Price is under all three MAVs on the Daily chart and in a Double Death Cross. 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.
The stats for SBUX are:
Now let's consider this coffee company: SBUX.
This week's progress has been slightly downward. Nevertheless, the slow and steady progress of SBUX has been upward since the DMA_H Buy signal on 11/08/22 at 92.75. Price is now 105.04 showing a potential profit of just above 12 points per share since the signal.
There is a strong Attractor overhead at 109.64 and another above that at 125.61. I feel confident that price will reach for the first Attractor, but only a strong overall market will push price throught the upper Attractor.
HUM
HUM is up (+5.94 points) this week after being down for several weeks. We got a SunnyBands sell signal on 11/04/22 which has flipped a couple times but is still profitable. The signal came at a price of 552 and we are now at 497 for a potential profit of 55 points per share.
The stats for HUM are:
Symbol "HUM", Bar Type = Daily Last Close = +497.30 : the close Friday was at +497.30. Change from last Sunday (+/-) (+491.36) = +5.94 Purple or Gold on top? Purple UOB = +523.94 UIB = +514.81 MidLine = +499.25 MidAngle = -9.23 LIB = +483.70 LOB = +474.57 Above/Below 21-day MAV = 498.60 - Below Above/Below 50-day MAV = 518.84 - Below Above/Below 200-day MAV = 486.65 - Above Color of DMA_H = Green All Time High = +571.30 Percent = -12.95%
HUM is up this week by +5.94 points on the Daily chart. It went to the DMA over a week ago, as anticipated, and after hitting it declined back to the LOB and stayed there for 8 days. The 200-day MAV held downside action from going farther, and on Tuesday it began a bit of upside movement.
Friday's candle wick touched the DMA Gold line--which is Flat and as such could impede further upside action. Keep in mind that Purple is still on top and has been since 11/16/22. Price is below the 21- and 50-day MAVs and while it touched the 200-day MAV it is now above it.
The DMA_H turned Green on 1/10/23 echoing the SunnyBands Bullish signal, which was confirmed by Price Action.
This is one of those times when I let Price Action tell me what's happening next. For me to be interested in HUM it needs to break above the DMA MidLine which lies at 499.25.
AMZN
The stats for AMZN are:
Symbol "AMZN", Bar Type = Daily Last Close = +97.25 : the close Friday was at +97.25. Change from last Sunday (+/-) (+98.12) = -0.87 Purple or Gold on top? Gold UOB = +99.71 UIB = +96.73 MidLine = +91.82 MidAngle = 14.57 LIB = +86.91 LOB = +83.93 Above/Below 21-day MAV = 88.68 - Above Above/Below 50-day MAV = 90.96 - Above Above/Below 200-day MAV = 114.64 - Below Color of DMA_H = Gold All Time High = +188.65 Percent = -48.45%
AMZN is below all 3 MAVs.
AMZN was finally showing some strength but in 3 days of this week it was down again. It is down -0.87 on the week but is approaching two important Attractors: The Fibonacci retractment 23.6% line and a Strong Attractor that lies at 102.24 eminating from the lows of May/June 2022.
Price touched the UOB this week but pulled back and gave a SunnyBands sell signal on Tuesday. Last week I said: "Yes, it's low but it's turning up. I'm anticipating another 4 points move upward, at least." And indeed, it moved up 12 points!
TSLA
The stats for TSLA on a Daily Chart are:
Symbol "TSLA", Bar Type = Daily Last Close = +133.42 : the close Friday was at +133.42. Change from last Sunday (+/-) (+122.40) = +11.02 Purple or Gold on top? Purple UOB = +142.00 UIB = +135.65 MidLine = +125.71 MidAngle = 7.27 LIB = +115.77 LOB = +109.42 Above/Below 21-day MAV = 122.12 - Above Above/Below 50-day MAV = 154.79 - Below Above/Below 200-day MAV = 237.78 - Below Color of DMA_H = Green All Time High = +414.50 Percent = -67.81%
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 a few months ago. Several other pundits I keep track of are suggesting a much higher price also. The split should have been bullish but remember that we may still be in a Bear market.
It's currently downover 67% from its all time high. This past week TSLA moved up from a SunnyBands buy signal on 1/6/23 at 113 and is now hovering at 133.
The SunnyBands Sell signal was on 9/21/22 at 300.80. That makes a potential short trade profit of $178 per share. The DMA_H is now showing Green for the past 2 weeks, which (if followed by price action) is Bullish. And Price Action did confirm the signal. However, it's at the DMA which is Flat and could stop upward action so I'm being very careful.
Last week I said: "I'm thinking 115 might be a good place to buy some shares again. I'll wait for the DMA_H and DMA to confirm first, though." And confirm they did. Price got as low as 108.76 and as it went back up through 115 that was a great buy signal.
This is still my favorite stock. But, at this point I'm a trader, not an investor yet. Not unless and until it passes and holds above the Down Sloping DMA. At this point I'm still a seller.
Seems to me people should be flocking to TSLA with gas prices high still. It is now down to $4.20/gal in my neighborhood.
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 over 70% from its high and is now continuing to make new lows. Maybe. First Elon needs to re-focus on TSLA and leave Twitter to someone else's management.
ARKK
The stats for ARKK are:
Symbol "ARKK", Bar Type = Daily Last Close = +36.50 : the close Friday was at +36.50. Change from last Sunday (+/-) (+35.99) = +0.51 Purple or Gold on top? Gold UOB = +37.62 UIB = +36.28 MidLine = +34.19 MidAngle = 5.00 LIB = +32.10 LOB = +30.76 Above/Below 21-day MAV = 32.90 - Above Above/Below 50-day MAV = 34.63 - Above Above/Below 200-day MAV = 41.78 - Below Color of DMA_H = Gold All Time High = +159.70 Percent = -77.14%
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 now above the two shorter term MAVs and is fast appproaching the UOB which is at 36.75.
The 200-day MAV is at 41.78. If she can quit trying to pick bottoms and just trade for pure profits she can reach that goal.
Who's On Top at the bottom of the chart is now Gold, and it has been Purple/Light Purple for a LONG time. On 12/29/22 the DMA_H turned Green as her price moved up along with TSLA's price (her largest holding) from a price of 31.17 to the current 36.50. The DMA_H is now Gold, stilll confirming the buy signal in December.
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.
I do think, still, that she over-trades. And bottom fishing is a risky business!
Tonight's chart is on a Daily timeframe. It looks like she's finally recovering somewhat.
MSFT
Symbol "MSFT", Bar Type = Daily Last Close = +240.22 : the close Friday was at +240.22. Change from last Sunday (+/-) (+239.23) = +0.99 Purple or Gold on top? Purple UOB = +249.16 UIB = +244.45 MidLine = +237.01 MidAngle = -2.43 LIB = +229.57 LOB = +224.86 Above/Below 21-day MAV = 235.68 - Above Above/Below 50-day MAV = 241.26 - Below Above/Below 200-day MAV = 256.27 - Below Color of DMA_H = Green All Time High = +349.67 Percent = -31.30%
MSFT (closing at 240.22 Friday, up +0.99 on the week) is below the two longer of the 3 MAVs and yet above the 21-day MAV though slightly. The DMA MidLine (at 237.01) is now moving sideways, with Purple still on top on the Daily chart but Turning Up since Green is showing on the DMA_H, AND price is now above the Flat DMA MidLine. A Buy signal was given on 1/6/23 and confirmed by Price Action the next day. Price was at 227.12.
Now price is at 240.22 and that's a potential of just over 13 points per share for a long trade.
The long-term trendline now shows that MSFT is down -31.30% from its all-time high. This is one of the reasons we are still potentially in a Bear market.
Since the DMA is Flat and price is currently straddling it price could go either way. The upside potential is to the UOB at 249.16 and the downside potential is to the LOB at 224.86.
It will take some more recovery for the Bull to resume.
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? You're leaving money on the table if you aren't trading with SunnyBands.
"This is INSANE! I'm up over $11,000 in four days. Even 1/10th of these results & I'm speechless!" [Using SunnyBands during a Free Trial]. - Brian K.
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.
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. The most recent Podcast is with Greg Morris of MurphyMorris.
Oil
The stats for CL are:
Crude Light (CL) on a Daily chart (closing at +81.64 Friday) was up +1.51 on the week and now gas at my pump is back up a bit to $4.80/gal.
Last month I said: "And now Biden has opened Venezuela for Chevron to pump oil after their president allocated $30m to humanity efforts. And yet we are again filling up our reserves which is likely to bring prices back up." And that's what happened all week, from last month's low of 72.73.
The DMA Histogram signalled Bullish on 12/12/22 at 73.12. The signal ended on 72.84 when the DMA_H became Purple for a potential losing trade of $8.60 per contracct.
CL is above the slightly upsloping DMA on the Daily chart and above the UIB at 81.49. Price is in the middle of a Pennant formation whose top is at 82.67. And that's where I think price is going. In fact, I think it will go on up to the UOB at 83.34.
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, 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:
Symbol "@BTC", Bar Type = Daily Last Close = +22,390 : the close Friday was at +22,390. Change from last Sunday (+/-) (+19,550) = +2,840 Purple or Gold on top? Gold UOB = +22,120 UIB = +21,257 MidLine = +19,786 MidAngle = 89.87 LIB = +18,316 LOB = +17,453 Above/Below 21-day MAV = 17914.76 - Above Above/Below 50-day MAV = 16994.00 - Above Above/Below 200-day MAV = 22536.83 - Below Color of DMA_H = Gold All Time High = +69,335 Percent = -67.71%
BitCoin is in the middle of a bit of a rally. This week price has continued on up to the Attractor at 22,215 (I mentioned last week) and beyond from the SunnyBands buy signal on 12/22/22 at 16,560.
Gold is now clearly on top following the buy signal at 16,560 and price is well above the UOB!
In afterhours trading BTC is up another 430 points.
In our Podcast interview with Ted Hearne last month, he pointed out that the stock market is going down and Bitcoin is going sideways. He believes that shows strength in BitCoin.
Last week I said: "There are 4 interlocking Pennant formations on the Daily chart, showing extreme congestion. I've never seen that before. There's nowhere to go but to burst out in one direction or the other. Price is sitting on the LOB with Purple on top and both Outer bands curving inward. Something is about to happen soon." And Happen it DID!
Last week I said: "There is a Strong Attractor at 22,215 above current price, and that's where I think we are going."
Ethereum
The stats for Ethereum are:
Symbol "ETHUSD", Bar Type = Daily Last Close = +1,638.16 : the close Friday was at +1,638.16. Change from last Sunday (+/-) (+1,456.58) = +181.58 Purple or Gold on top? Gold UOB = +1,648.05 UIB = +1,584.96 MidLine = +1,476.44 MidAngle = 87.44 LIB = +1,367.92 LOB = +1,304.83 Above/Below 21-day MAV = 1342.40 - Above Above/Below 50-day MAV = 1276.01 - Above Above/Below 200-day MAV = 1568.15 - Above Color of DMA_H = Red All Time High = +4,867.81 Percent = -66.35%
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 near 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.
ETHUSD is strongly up on the week, up +181.58 points, like BTC. In afterhours trading tonight it is down -1.16 points.
Last time I said: "Price can only continue to squeeze to zero for just so long before it bursts out--one direction or the other." And pop it did, moving up well since a SunnyBands buy signal on 01/02/23 at 1,210.71. Price is currently at 1,638.16. That's more than 427 points of potential profit since the signal.
Last week I said: "The 200-day MAV is just overhead and I'm expecting it will break that in the next day or so." And it did just that. Now price is above all three MAVs and touching the Attractor at 1,662.83. I expect it will either break strongly above that this week OR will stutter a bit for a couple of days before breaking through.
Gold
The stats for Gold are:
Symbol "@GC", Bar Type = Daily Last Close = +1,928.2 : the close Friday was at +1,928.2. Change from last Sunday (+/-) (+1,921.7) = +6.5 Purple or Gold on top? Gold UOB = +1,928.3 UIB = +1,908.4 MidLine = +1,873.6 MidAngle = 82.44 LIB = +1,838.8 LOB = +1,818.9 Above/Below 21-day MAV = 1860.93 - Above Above/Below 50-day MAV = 1815.01 - Above Above/Below 200-day MAV = 1806.87 - Above Color of DMA_H = Gold All Time High = +2,122.7 Percent = -9.16%
Gold. Gold is up strongly since the Buy signal 10/21/22 at 1,671 and is up over 250 points since the signal. That is to say, it has been recovering nicely.
The DMA is still Gold on Top. And price has stayed nicely above the Gold DMA Line ever since. It pays to trade with SunnyBands and the DMA_H.
There is a Strong Attractor at 1,967 that could put a damper in the sharp rise when it gets to that point. I might consider taking profits at that point while waiting to see what happens next. In afterhours trading GC is up $0.20.
Price is above the UOB with Gold on Top. The DMA is heading upward which makes me think price will head on upward pushing the bands upward. The next Attractor to the upside is at 2,108.
Gold is currently in a Bullish Golden Cross pattern, with the short-term MAV (21-day) moving above the 50-day MAV. See Glossary for details.
Bonds
The stats for @US are:
Symbol "@US", Bar Type = Daily Last Close = +130.46875 : the close Friday was at +130.46875. Change from last Sunday (+/-) (+130.00000) = +0.46875 Purple or Gold on top? Gold UOB = +132.69861 UIB = +131.17917 MidLine = +128.78500 MidAngle = 8.25 LIB = +126.39083 LOB = +124.87139 Above/Below 21-day MAV = 128.35 - Above Above/Below 50-day MAV = 128.00 - Above Above/Below 200-day MAV = 132.84 - Below Color of DMA_H = Gold All Time High = +164.68750 Percent = -20.78%
Bonds are up on the week by +0.78125 points.
On the monthly chart bonds are in a clear downward progression since 4/30/20, but are now moving out of the LinearRegression Channel to the upside. The DMA lies above at 140.
On the weekly chart price is above the DMA which lies at 128. The next logical move would be up to the UIB at 132.41.
On the Daily chart price is above the DMA MidLine and two days ago went up to the UOB on a blue candle and turned back or a red candle. This is a sell signal and was confirmed the next day by price action and by the DMA_Histogram turning red. The Gold DMA is still on top though Flat. That would say to me that price is probably going to reach down to the DMA, which lies at 128.86.
Price is right now at 130-21/32 in the afterhours market, up 6/32nds.
The 200-day MAV lies overhead at 132.84.
With price above the DMA, and straddling the UIB it would appear that the next stop is the UOB and then on to the 200-day MAV.
With the three different timeframes giving conflicting signals, it's best just to trade price movement on this one and stay with the time horizon you are interested in. I'm staying with the daily chart and expecting a movement down to the DMA MidLIne.
Bonds go down, yields go up. Bonds go up, yields go down. 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 another 0.50-0.75 points this next time.
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