Sunday February 5, 2023 VOLUME 7 ISSUE 06
If you are getting this issue for free, please know that the Sunny Side of the Street Technical Newsletter every Sunday night is by subscription only. SUBSCRIBE HERE.
NEW Podcasts Dropped: Larry Pesavento and Norm Winski. Great interviews with Sunny & Sam. Give 'em a listen!
More Sunny Harris interviews: Podcasts with Casey Stubbs of How to Trade It, Chat with Traders, Michael Filighera's Eye of the Storm.
HAPPY HALF HOUR! On Saturday March 4th at 1:15pm PT (also a Saturday) 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 January. Don't miss it next time. Click HERE to join us. You must be registered to get the invitation and link.
>>FREE Live Demo REPLAY Posted. Learn how I use SunnyBands to trade.
>>FREE Trial of Sunny's Most Powerful Indicators. Click Here. I can only 20 per month.
If you are new to Sunny Side of the Street you might be unfamiliar with the rules I use to interpret my Indicators.
If that's the case, you can download the Indicator Manual Here.
If you haven't already, Watch the Oct 18 Live Demo Replay Here. The LIVE DEMO was Tuesday Oct 18 at 10amPT. Learn how Sunny interprets her indicators. 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'.
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 will have 2 more Zoom calls with you during the Trial to walk you through trading them in the Live Markets.
"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
The defective PayPal button has been fixed. Just click above on Order Form and it will take you there.
If you Registered for the EasyLanguage Forum and would like to view the Slides and Video, use your email and password to Login. If you forgot your password, just shoot me an email.
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 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 Larry Pesavento and Norm Winski 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.
Link to Sam Tennis' Products below. Link to Sunny's Products. NEW: Scan for bullish stocks.
Please take a look at my YouTube channel, (search for Sunny Harris on YouTube) subscribe, and give me ideas of what else you would like me to include. I'm ready to record more videos.
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 essentially an outside day. All 3 MAVs are hovering right at the Zero-line, but actually the Long-Term MAV is still (barely) above zero. The Medium-Term MAV is turning upward and barely above the zero-line.
The prediction for Monday calls for a high of 34,131 and a low of 33,817.
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 -52.07 on the week, having stayed in the sideways channel since 11/30/22. The movement is inside of a very sideways channel in SunnyBands with the DMA having staying Flat.
There is a very strong Attractor overhead at 34,575. Until we break that level we are not entering a new Bull market.
We are in a serious Sideways Channel which could play out by moving back and forth from the bottom to the top of the channel and back again (as it has been doing) for quite some time. OR, it coud break out from one side or the other (like TSLA did last week.)
Taking a look at the Weekly chart now for more information: the DMA is Flat, Gold is on top and Price is above the DMA, astraddle the UIB (Upper Inner Band). Price has been wavering back and forth above the DMA for 14 weeks now. There is a strong Attractor at 34,575 which has been touched but not broken. I'm expecting price to try again for the Attractor above based on that.
There is a TrendLine lying underneath the lows since 9/22 that crosses the current Attractor (just a day or two out) which is providing resistance. I believe that we will break the TrendLine and the Attractor this next week.
Further, going back to the Daily chart, Price is above all 3 MAVs though it is not much above the 21- day MAV. That's another reason I think we will go on up to the Attractor.
In the after-hours market the YM is down -34 points, to 33,927.
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 Larry Pesavento, Norm Winski, Greg Morris, Linda Bradford Raschke, Anka Metcalf and Robert Colby are now posted, Enjoy these great interviews. Ted Hearne coming Next!
S&P 500
The stats for ES are:
The ES has now pulled ahead of the Dow in gains with price on the Dow not yet making it above the recent high while price on the ES has gone above its recent high. We have moved back upward now so that the ES is now "only" down 15%.
On the Weekly chart we are slowly ticking along sideways with Purple on top and the DMA Flat for 13 weeks. Price is just barely above the DMA, but it has done this previously only to retreat. Nevertheless the DMA_H (Dynamic Moving Average Histogram) is Green tending toward upward movement. There is an Attractor overhead at 4,133 which will likely pull price up to that level. Price is also moving up to a prior Linear Regression Channel boundary which will also likely pull price up to that level.
Earnings Reports continue this week with some important stocks reporting.
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 very mixed with some bullish, some turning down and some turning up. The weekly ES is turning up and the daily is bullish, the 15-minute is turning up while the monthly is now bullish but turning down.
RadarScreen of Stocks
Here again, back by popular demand, is my RadarScreen of Stocks:
Looking at the light green and the gold Bullish stocks. There are Lots of them that are above all 3 MAVs this time, and Bullish.
These are the bullish stocks 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 1390 stocks above their 3 MAVs. Last time there were 1257 stocks above all three. Again another bullish sign.
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 at 34.94. At the time of the Sell Signal price was at 38.62 for a potential profit of 3.68 per share.
It has been in a decline since the sell signal, and is now in a losing long 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 and price is now at 35.15 for a potential profit of 3.47 per share. We are still on that sell signal.
On the Weekly chart its progress is pretty much sideways to slightly down.
It penetrated the Attractor at 34.93 and is now below all 3 MAVs on the daily chart and is heading for the lower Attractor which lies at 34.03.
The chart shows lots of gyrations as it moves along it path. The DMA is now Flat and price is beneath it. It has tried to push through the DMA each of the last 4 days with no luck. A SunnyBands Buy signal happened on Thursday and was confirmed by the DMA_Histogram, but was not yet confirmed by Price Action. If price breaks above the DMA that will be a Long signal to me.
The stats for SBUX are:
Now let's consider this coffee company: SBUX (Starbucks).
This week's progress has been down by -4.72 points. 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 104.30 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. Last week I said: "I feel confident that price will reach for the first Attractor, but only a strong overall market will push price through the upper Attractor." Indeed that was what happened. Price pushed through the first Attractor and then fell back through it.
I'm still expecting more upside action this week.
HUM
HUM is down another -5.12 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 476.57 for a potential profit of 75 points per share.
The stats for HUM are:
Symbol "HUM", Bar Type = Daily Last Close = +476.57 : the close Friday was at +476.57. Change from last Sunday (+/-) (+481.69) = -5.12 Purple or Gold on top? Purple UOB = +537.92 UIB = +522.12 MidLine = +497.40 MidAngle = -37.95 LIB = +472.69 LOB = +456.89 Above/Below 21-day MAV = 492.44 - Below Above/Below 50-day MAV = 511.25 - Below Above/Below 200-day MAV = 488.72 - Below Color of DMA_H = Purple All Time High = +571.30 Percent = -16.58%
HUM is down again, producing a sizable potential profit on the short trade signaled by SunnyBands.
The signal is still in a short position and the DMA is now turning slightly downward.
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 498.02.
It did break above the DMA last week on Tuesday and Wednesday but then fell sharply down through it. That frequently happens with a Flat DMA.
AMZN
The stats for AMZN are:
Symbol "AMZN", Bar Type = Daily Last Close = +103.39 : the close Friday was at +103.39. Change from last Sunday (+/-) (+102.24) = +1.15 Purple or Gold on top? Gold UOB = +110.25 UIB = +106.26 MidLine = +99.42 MidAngle = 53.27 LIB = +92.59 LOB = +88.60 Above/Below 21-day MAV = 96.90 - Above Above/Below 50-day MAV = 92.32 - Above Above/Below 200-day MAV = 111.95 - Below Color of DMA_H = Gold All Time High = +188.65 Percent = -45.19%
AMZN is now above the 21- and 50-day MAVs with the 200-day lying at 111.95 while price is at 102.95. On Thursday price broke above the 200-day MAV on a gap but fell right back through it, even falling through the UIB.
AMZN is finally showing significant strength. Last time I said: "it 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." That's exactly what it did on Friday. It closed at exactly 102.24. Then this week it went on up to the 200-day MAV. The next Attractor overhead is at 117.34.
The Fibonacci Attractor is still looming overhead at 117.34. I'm anticipating a move this week to that level.
Thursday created a gap and Friday filled it. It should now be clear to move on upward. BUT there is a Flat DMA to which it might drop first, taking price down to 99.42.
TSLA
The stats for TSLA are:
Symbol "TSLA", Bar Type = Daily Last Close = +189.98 : the close Friday was at +189.98. Change from last Sunday (+/-) (+177.90) = +12.08 Purple or Gold on top? Gold UOB = +190.31 UIB = +179.60 MidLine = +159.53 MidAngle = 78.41 LIB = +139.46 LOB = +128.75 Above/Below 21-day MAV = 143.90 - Above Above/Below 50-day MAV = 151.01 - Above Above/Below 200-day MAV = 229.09 - Below Color of DMA_H = Gold All Time High = +414.50 Percent = -54.17%
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 200-day MAV lies overhead at 229.09. That's looking like a target to me. Last week I said there was an Attractor overhead at 175 and TSLA passed right through it after stumbling there for a few days. The next overhead Attractor is right above the 200-day MAV. I believe we are going there next. TSLA has gone up 79 points since the SunnyBands buy signal. Smart!
The SunnyBands buy signal has generated a potential profit of $79.71 per share.
Last month 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.
On Thursday TSLA went above the UOB on a Doji candle and then dropped on an Inside Bar so that it is slightly below the UOB. I don't believe that will hold it down for long.
This is still my favorite stock. But, at this point I'm a trader, not an investor yet. TSLA moved above the Attractors (sharply) and the DMA is sloping sharply upward.
Right now price is at the Flat DMA on the Weekly chart with Purple on top. Price may stumble with that resistance for a few days, but I am guessing it will pass through that level and go on up to the UIB at 218.74.
Seems to me people should be flocking to TSLA with gas prices high still. It is now back up to $5.00/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).
ARKK
The stats for ARKK are:
Symbol "ARKK", Bar Type = Daily Last Close = +42.85 : the close Friday was at +42.85. Change from last Sunday (+/-) (+40.39) = +2.46 Purple or Gold on top? Gold UOB = +43.23 UIB = +41.40 MidLine = +38.34 MidAngle = 36.04 LIB = +35.29 LOB = +33.46 Above/Below 21-day MAV = 37.07 - Above Above/Below 50-day MAV = 35.20 - Above Above/Below 200-day MAV = 40.72 - Above Color of DMA_H = Gold All Time High = +159.70 Percent = -73.17%
ARKK is recovering nicely, along with her largest holding: TSLA. She gapped up on Thursday above the UOB and on Friday dropped back under the UOB. If TSLA goes up, so will ARKK.
A SunnyBands buy signal was generated on 12/29/22 at 31.17 and confirmed by price action. Price is now at 42.85 for a potential profit of $11.68 per share.
On the Weekly chart price is above the Flat DMA and the UOB lies at 48.07 which is where I think she's going next.
Who's On Top at the bottom of the chart is still Gold though it turned Red on Friday, after being 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 42.85. The DMA_H is Red, but I'm looking for two Reds to confirm a potential sell signal.
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!
Tonight's chart is on a Daily timeframe. It looks like she's finally recovering nicely.
MSFT
Symbol "MSFT", Bar Type = Daily Last Close = +258.35 : the close Friday was at +258.35. Change from last Sunday (+/-) (+248.16) = +10.19 Purple or Gold on top? Gold UOB = +260.16 UIB = +254.21 MidLine = +244.41 MidAngle = 63.29 LIB = +234.60 LOB = +228.65 Above/Below 21-day MAV = 240.60 - Above Above/Below 50-day MAV = 243.14 - Above Above/Below 200-day MAV = 254.16 - Above Color of DMA_H = Gold All Time High = +349.67 Percent = -26.12%
MSFT (closing at 258.35 Friday, up +10.19 on the week) is Above all three MAVs. The DMA MidLine (at 244.40) is now moving upward nicely, with Gold now on top on the Daily chart and Gold is showing on the DMA_H. 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 258.35 and that's a potential of just over 31 points per share on a long trade.
The long-term trendline now shows that MSFT is down "only" -26% from its all-time high of 349.67. This is one of the reasons we are still potentially in a Bear market. We will see what happens on Wednesday's FOMC meeting announcement.
On the Weekly chart price is touching the Flat DMA with Purple on top. Again, price often stumbles for a few days in this configuration. It is likely that that will happen and then the DMA will turn upward with price moving above the DMA and on up to the UIB at 277.94.
Further, the Linear Regression channel showing on the chart is about to be penetrated to the upside. That will produce even further price increases.
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 +73.39 Friday) was down -6.29 on the week and now gas at my pump is back up a bit to $5.00/gal. Confounding.
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.
There is a strong Attractor right below current price at 70.92. Price will test that level in all likelihood. Possibly tomorrow.
Price has been weak and has only been moving back and forth between the Inner Bands. That's a sign of weakness.
CL is below the DMA and the LIB on the Daily chart. There was a DMA_H sell signal on 01/27/23 at 79.68. Price is now at 73.40 for a bit over 6 points of potential profit.
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 = +23,485 : the close Friday was at +23,485. Change from last Sunday (+/-) (+23,320) = +165 Purple or Gold on top? Gold UOB = +24,598 UIB = +23,900 MidLine = +22,779 MidAngle = 89.64 LIB = +21,659 LOB = +20,961 Above/Below 21-day MAV = 21241.43 - Above Above/Below 50-day MAV = 18647.60 - Above Above/Below 200-day MAV = 21950.42 - Above Color of DMA_H = Red All Time High = +69,500 Percent = -66.21%
BitCoin is in the middle of a bit of a rally. This week price has continued on up +165 to exceed the 200-day MAV and beyond from the SunnyBands buy signal on 12/22/22 at 16,560.
Price is now, in the after-hours market, at 23,095 (down 390 points) for a potential profit since the signal of 6,535.
Gold is now clearly on top following the buy signal at 16,560 and yet price is now sitting right on the Flat DMA. That could be Support or price could fall through it. The most likely scenario is for price to stumble at that level and go on up. It's above all 3 MAVs. The UIB lies at 23916 and the UOB is at 24616. I'm guessing price will eventually move in that direction.
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. Ted's podcast will be posted next week.
There are two interlocking Pennant formations at the top of current price action constraining price movement. To break out of the Pennants price needs to best 24,450. When it does all bets are off!
Ethereum
The stats for Ethereum are:
Symbol "ETHUSD", Bar Type = Daily Last Close = +1,657.89 : the close Friday was at +1,657.89. Change from last Sunday (+/-) (+1,599.26) = +58.63 Purple or Gold on top? Gold UOB = +1,733.19 UIB = +1,670.82 MidLine = +1,571.40 MidAngle = 84.55 LIB = +1,471.99 LOB = +1,409.62 Above/Below 21-day MAV = 1530.91 - Above Above/Below 50-day MAV = 1360.82 - Above Above/Below 200-day MAV = 1500.60 - Above Color of DMA_H = Red All Time High = +4,867.81 Percent = -65.94%
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 up on the week (+58.63), after a few weeks of dramatic moves upward, like BTC. In afterhours trading tonight it is down -28.64 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 1,599.26. That's more than 388 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 nearing the UIB at 1,642. 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 = +1,876.6 : the close Friday was at +1,876.6. Change from last Sunday (+/-) (+1,945.6) = -69.0 Purple or Gold on top? Gold UOB = +1,984.3 UIB = +1,958.3 MidLine = +1,918.5 MidAngle = -62.70 LIB = +1,878.7 LOB = +1,852.7 Above/Below 21-day MAV = 1923.83 - Below Above/Below 50-day MAV = 1862.30 - Above Above/Below 200-day MAV = 1819.89 - Above Color of DMA_H = Red All Time High = +2,139.4 Percent = -12.28%
Gold. Gold has been strongly up for weeks since the SunnyBands buy signal on 11/04/22. Since then we are up 176 points.
It's making its way steadily back to the 2,000 level.
The DMA is still Gold on Top. And price has stayed nicely above the Gold DMA Line until this week. We got a SunnyBands sell signal on 01/26/23 at 1946.70. Since then it is down 81 points. It pays to trade with SunnyBands and the DMA_H.
Last time I said: "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." And it did just that. The upward momentum has stalled slightly and in after-hours trading GC is up 8.9 points.
Still I think next stop is 2,000 or beyond.
The last days of my Once in a Lifetime Bundle Discounts is ending on Tuesday 11/22/22. There is still time for you to take advantage of up to 30% Discounts. Click Here.
Price is now slightly below the LOB and is heading back to the top of a previous Pennant formation. The DMA_H has confirmed a SunnyBands sell signal from 1,946.7 that is now productive by 81 points. It could mean a move down to the LOB currently at 1853.60. But I'm guessing that it will show a weak down move and move up off the LIB.
The next Attractor to the upside is at 2,108.
Purple is now on top and price is well below it on a couple of sharp days down. there is a strong Attractor at 1,861 that is just below current price. I'm guessing price will continue on down to that level and then bounce.
Bonds
The stats for @US are:
Symbol "@US", Bar Type = Daily Last Close = +130.06250 : the close Friday was at +130.06250. Change from last Sunday (+/-) (+130.15625) = -0.09375 Purple or Gold on top? Gold UOB = +132.52000 UIB = +131.32000 MidLine = +129.38000 MidAngle = 4.72 LIB = +127.44000 LOB = +126.24000 Above/Below 21-day MAV = 130.18 - Below Above/Below 50-day MAV = 129.19 - Above Above/Below 200-day MAV = 132.39 - Below Color of DMA_H = Gold All Time High = +164.40625 Percent = -20.89%
Bonds are down on the week by -0.09375 points.
On the weekly chart price is above the Flat DMA which lies at 127.99. The next logical move would be up to the UIB at 132.5425.
Last week I said: "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." Since then price moved slowly down to 130^02 for a potential profit of just over 2 point.
Price is right now at 129^23 in the afterhours market, down -11/32nds.
The 200-day MAV lies overhead at 132.39.
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. That happened Friday and I now expect price to stagnate as it toys with the Flat DMA. As interest rates are likely to continue to rise I expect bond prices to fall further.
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.
If You Got this Free Newsletter from someone else and would like to Opt-In, and join us, click here.
Products
All subscribers to my Sunny Side of the Street newsletter are eligible for an automatic 10% discount on any of my products. Call if you are interested.
If you want a yet better price, buy Sunny's indicators by the Bundle. Up to 30% off! This offer is only good until 11/22/22. Don't Miss Out. This offer won't show up again for a long, long time.
Consulting/Mentoring - There is nothing that makes me happier than my students turning into great, profitable traders. I love to help new traders, and intermediate traders who are in a slump.
Correspondence Course: "Solving the Puzzle." 20 lessons and live sessions with Sunny for each lesson. Learn all you need to get started in trading.
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. With them I am alerted to Exact Entries and Exits.
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 & 5-min charts of the ES.
Custom Programming - Need help with an idea you want tested with EasyLanguage? I'm the one to do it for you. Fast and inexpensive.
If you aren't already a MoneyMentor Member, please consider joining here. Tell me what you trade and what you'd like to see me add to this newsletter.
Sam Tennis' Products
If you would like to be included in Sam's totally educational "It's the Weekend!" newsletter, shoot him an email and say I sent you. It's a lot of fun.
Real-Time Profit/Loss Viewer
ORDER NOW
Scroll the Chart
SCROLL THE CHART DOCKED
Data Report Pro & SPGC Report Pro
Archives
2023 Vol 7:
2022 Vol 6:
2021 Vol 5:
I always welcome comments at sunny@moneymentor.com.
Click to unsubscribe. I'll be sad to see you go, but I will remove you permanently from my subscribers list.
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.
We provide a wide range of software programmed by Sunny for her own trading. We are not a churn and burn shop that puts out lots of indicators for sale, just to have products to sell.
Each of these unique products is available to help others in their quest for profits. And, they are used by Sunny in her own daily trading. The software includes indicators that make trading smooth and easy, and strategies that can even be automated to provide hands-off trading. Click here for a full list, descriptions, charts and prices.
