Sunday April 30, 2023 VOLUME 7 ISSUE 17
ALL NEW! Announcing a NinjaTrader version of my Flagship indicator, SunnyBands!
>> Just for your information, the CME has changed the Roll-Over date to the Monday of same week as the Friday expiration. Check it out HERE.
NEW Podcasts Dropped: Dan Passarelli, Ted Hearne, Larry Pesavento and Norm Winski. Great interviews with Sunny & Sam. Give 'em a listen! Coming Next: Markus Heitkoetter.
More Sunny Harris interviews: Podcasts with Alternative Investments, Casey Stubbs of How to Trade It, Chat with Traders, Michael Filighera's Eye of the Storm, The Daily Traders and Etienne Crete's Desire to Trade. Interview in Business Insider this weekend.
HAPPY HALF HOUR! On Thursday May 4th at 1:15pm PT. 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 Replay of Live Trading Room (Trade Along with Sunny)
>>FREE Trial of Sunny's Most Powerful Indicators. Click Here. I can only take 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.
Want to Learn EasyLanguage? Get YOUR copy of Murray Ruggiero's Using EasyLanguage 9.x HERE at half price before they are all gone. I only have 15 copies.
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'.
And there is one of the Live Trading Room sessions available Here if you'd like to see how I trade.
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.
I'm thinking about conducting a LIVE IN-PERSON 3-day Seminar in Los Angeles (near the airport for the convenience of all) with Sam Tennis where you can learn Technical Analysis, Running your Trading Business, Compounding Your Profits, Trading Techniques that Work, AND EasyLanguage in this Intensive 3-day long-Weekend. Please let me know whether you might be interested HERE.
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!" and "Trading 101", "Trading 102", "Electronic Day Trading 101", "Getting Started in Trading". 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
And in another vein, if you'd like to visit the Podcast interviews of Sunny they are available Here.
The most recent Episode is with Dan Passarelli. Ted Hearne. Larry Pesavento and Norm Winski before that and 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.
All three moving averages are now moving Upward and are, though slightly, above the Zero-LIne.
The prediction for Monday calls for a high of 34,274 and a low of 33,881. That's only a 393 point spread on the day with the day being nicely UP.
Two weeks ago (I missed last week) I said I thought we had more to go on the downside, and that's just what happened. This week I think we will make tomorrow's prediction, but at that point we are hitting up against a Strong Attractor that might hold price down for a bit. Breaking above 34,200 could easily mean the resumption of the Bull market.
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 Weekly NEoWave projection of the S&P. He posts it on Monday afternoons, so it will be updated then. Come back and re-load to see it.
http://www.neowave.com
SunnyBands Implications
Dow Jones
The stats for the Dow are:
The Dow is up +289.20 on the week which was down and then back up, with Thursday and Friday making a good showing. Price is still stuck in the middle of a Pennant formation and has to break out of it to give us a direction. There is a Strong Attractor at 34,633, which is where I think we are going next. It has to be tested. Right now we are at 34,098 so that gives us a bit of room on the upside.
Last time I said: "Gold is on top and showing on the DMA Histogram and a pending move to the upside is likely." And that's just what we got.
Gold is still on top and though the DMA is Flat I think there is more room on the upside. It may retrace in a corrective wave, but I think ultimately we are going up.
On the Weekly chart, wwe have done nothing but move sideways since last July. Something needs to happen. We can't move sideways forever. There is an Attractor above at 34,633 and one below at 30,000. Who knows?
Looking at the Weekly and Daily SunnyBands overlay I see that price is now above the Weekly SunnyBands and right at the UOB of the Daily and continuing to move upward. It looks to me like we are heading for the Attractor that lies overhead at 34,160.25. Breaking that would mean a significant move to the upside is in store.
In the after-hours market the YM is up 62 points, to 34,098. Price has stalled at the UOB and has given a Sell signal which was confirmed by tonight's bar. If that holds it looks like price could fall back to the DMA, at 33,504.
The Weekly Dow chart shows we will remain in this sideways channel until we break out of 34,180.
Keep in mind that markets never go straight up or straight down. They always move in fits and starts.
The Podcasts of Dan Passarelli, Ted Hearne, Larry Pesavento, Norm Winski, Greg Morris, Linda Bradford Raschke, Anka Metcalf and Robert Colby are now posted, Enjoy these great interviews. Markus Heitkoetter coming Next!
S&P 500
The ES is down slightly in the after-hours market, -2.00 points. On the week the ES was up +31.75 points. It and the DOW are both on sideways progressions but not quite in tandem.
Price is above the DMA and Gold is on top. It is sitting between the UIB and UOB and going assuredly upward. Gold is also on top on the DMA_Histogram. Price is also above all 3 MAVs, which is a positive sign.
Earnings Reports continue this week with some important stocks reporting.
REPORTS THIS WEEK: UBER, PFE, BP, STNG, LNG, MPC... and more.
Quips & Quotes
Here are a few quotes from my users these past few weeks:
"My consulting sessions with Sunny started from a cringeworthy point. I was a rank novice. I was impressed with her patience and calm responses as we began working on terminology, process and setting up my trading platform. She was great at directing me to areas I needed to supplement my learning, as well as guiding me away from subjects distracting to a beginner. With her decades of expertise, she was able to break down complexities into bite-sized chunks so that sessions were productive. I found over a short period of time I was asking smarter questions, and eager to learn more. Sunny is a talented mathematician and programmer who develops her own tools, but her style of coaching is cheerful and encouraging, not intimidating. You become a student of the craft of trading -- setting up your own strategies, and testing them until you know they're likely to work. The SunnyBands system she created and sells is also what she trades with herself. If you are a beginner, she can start at an appropriate point for you and raise you up to the level you're ready for her SunnyBands system. I'm still a work-in-progress, but with Sunny I chose a solid business partner, and as it turned out, I also made a good friend. Thoroughly recommend Sunny!" -Jill T.
"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 every timeframe is bullish of some flavor except the 1-min.
RadarScreen of Stocks
Here again, back by popular demand, is my RadarScreen of Stocks:
The RadarScreen shown here is sorted by PHW total and presents the "most tradable" stocks on the top. i.e., those with the most swings and trading opportunities.
In the DMA column you can see that most of the symbols are very mixed. Lots of all color. This is indicative of a sideways market with no one willing to stick their neck out and choose a direction.
Stock Scan for those Above all 3 MAVs & >million shares traded
I've done something different this week. This time I added a condition to the Scan that symbols must have >= 1,000,000 volume. That narrows the search down quite a bit. And now there are 130 stocks that meet the conditions same as last week's 130. Lots of opportunity here.
Stocks
I'm adding a new one this week: META:
Created : 04/29/2023 03:22pm Symbol "META", Bar Type = Daily Last Close = +240.32 : the close Friday was at +240.32. Change from last Sunday (+/-) (+212.89) = +27.43 Purple or Gold on top? Gold UOB = +234.11 UIB = +227.94 MidLine = +218.15 MidAngle = 74.78 LIB = +208.36 LOB = +202.19 Above/Below 21-day MAV = 216.51 - Above Above/Below 50-day MAV = 199.26 - Above Above/Below 200-day MAV = 155.63 - Above Color of DMA_H = Gold All Time High = +384.33 Percent = -37.47% on 09/01/2021 416 bars ago.
META gave a SunnyBands BUY signal on 11/08/22 and hasn't quit. It is up 143.85 points from the Entry Price of 96.47 to its current price of 240.32. Pretty dramatic!
The last move was on a gap of over 20 points and is now well above the UOB and still moving. The last time we had a gap of that size on META it corrected back down to the DMA and then progressed on upward. I wouldn't be surprised to see that happen again with profit taking.
Gold has been on top for months and is likely to continue.
KDP: Keuring Dr. Pepper
Last time I said: "KDP, on the Monthly chart, has given a clear Sell signal in a faltering market. We are sitting right on the Flat DMA, which is always scary. It could easily turn on downward for more of a correction" and not only did it correct but it dropped 3 full points on a gap down.
KDP got a SunnyBands sell signal (on the Daily chart) on 12/02/22 and it has been moving downward ever since.
The DMA is currently moving sharply downward, signaling more movement to the downside. Nevertheless I wouldn't be surprised to see bottom fishing come in at this level with bargain hunting trying to get a "deal".
Now let's consider this coffee company: SBUX (Starbucks).
The stats for SBUX are:
SBUX, as I said last time, easily broke throught the Flat DMA and went on up to the UOB. From there it has continued to move upward. Gold is now on top and holds promise of more upward movement.
Price is up strongly this week by +6.10 points. Gold is on top and price is recovering nicely toward its all time high of 126.32. Current price is 114.29. There is a strong Attractor at 118.80 that might stall upward movement.
A SunnyBands Buy signal was given on 03/28/23 at 93.69 and now price is at 114.41 for a potential 20.72 points profit.
Paying attention to these SunnyBands signals keeps me profitable. If you haven't already, maybe you'd like to get a FREE 7-day Trial for yourself.
HUM
HUM is Up by +39.28 this week. It is still languishing but nevertheless recovering. The progress on the Weekly chart is to the upside. We still must break out of the Pennant formation it is now in before recovering above the all time high in November of 2022.
There is an Attractor overhead at 536.37 that must be broken to continue movement to the upside.
The stats for HUM are:
Created : 04/29/2023 03:17pm Symbol "HUM", Bar Type = Daily Last Close = +530.49 : the close Friday was at +530.49. Change from last Sunday (+/-) (+491.21) = +39.28 Purple or Gold on top? Gold UOB = +537.09 UIB = +526.37 MidLine = +509.65 MidAngle = 56.00 LIB = +492.94 LOB = +482.22 Above/Below 21-day MAV = 511.60 - Above Above/Below 50-day MAV = 502.61 - Above Above/Below 200-day MAV = 504.14 - Above Color of DMA_H = Gold All Time High = +571.30 Percent = -7.14% on 11/03/2022 120 bars ago.
AMZN
The stats for AMZN are:
Created : 04/29/2023 03:14pm Symbol "AMZN", Bar Type = Daily Last Close = +105.45 : the close Friday was at +105.45. Change from last Sunday (+/-) (+106.96) = -1.51 Purple or Gold on top? Gold UOB = +110.48 UIB = +107.27 MidLine = +102.11 MidAngle = 22.29 LIB = +96.95 LOB = +93.74 Above/Below 21-day MAV = 103.28 - Above Above/Below 50-day MAV = 98.94 - Above Above/Below 200-day MAV = 106.83 - Below Color of DMA_H = Gold All Time High = +188.65 Percent = -44.10% on 07/13/2021 452 bars ago.
Last time I said "I'm guessing it will bounce back and test the UOB again this week." Which it did. On Friday, however, price dropped back below the UIB. Gold is still on top though the DMA_H is fairly flat, and while above the Zero-Line is not really exciting.
On the Weekly chart AMZN is above the DMA but Purple is on top. The DMA is Flat, telling me there is more sideways action potential.
TSLA
The stats for TSLA are:
Created : 04/29/2023 03:24pm Symbol "TSLA", Bar Type = Daily Last Close = +164.31 : the close Friday was at +164.31. Change from last Sunday (+/-) (+165.08) = -0.77 Purple or Gold on top? Purple UOB = +192.41 UIB = +186.14 MidLine = +174.70 MidAngle = -42.54 LIB = +163.27 LOB = +157.00 Above/Below 21-day MAV = 179.28 - Below Above/Below 50-day MAV = 186.38 - Below Above/Below 200-day MAV = 210.44 - Below Color of DMA_H = Green All Time High = +414.50 Percent = -60.36% on 11/04/2021 371 bars ago.
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.
TSLA is down on the week by -0.77 points and is sitting under the Flat DMA. Price has just moved above the LOB and is touching the LIB. With the DMA Flat I'm expecting TSLA to move up to it at 174.71, probably to be propelled at that point.
Now we are looking at a Sell signal from 04/03/23 at 202.69. Price is now at 164.25 for a potential profit of just over 38 points per share. Not Bad!
I'm thinking price will move up to the DMA (which is currently flat) before it finds further direction.
This is still my favorite stock. But, at this point I'm a trader, not an investor yet.
Seems to me people should be flocking to TSLA with gas prices high still. It is now back up to $5.20/gal in my neighborhood. When I drove up to Santa Monica last week for a conference (a 1.75hr drive that took 4 hours) I counted 73 Teslas on the road.
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 long-term 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:
Created : 04/29/2023 03:15pm Symbol "ARKK", Bar Type = Daily Last Close = +35.92 : the close Friday was at +35.92. Change from last Sunday (+/-) (+37.63) = -1.71 Purple or Gold on top? Purple UOB = +40.26 UIB = +39.36 MidLine = +37.80 MidAngle = -9.09 LIB = +36.23 LOB = +35.33 Above/Below 21-day MAV = 38.04 - Below Above/Below 50-day MAV = 38.49 - Below Above/Below 200-day MAV = 39.21 - Below Color of DMA_H = Purple All Time High = +159.70 Percent = -77.51% on 02/16/2021 554 bars ago.
ARKK follows TSLA, her main holding. Last time I said: "Right now it looks like we will continue on down to the LOB at 36.02." And that's where we went, and further. Purple is on top and the DMA has been Flat for many days. Price has lightly touched the LIB and downward progression may be over, but I don't think so. I think there's more downside to come.
ARKK has, on the Weekly chart, is going very flatly sideways. Price continues to be below the Flat DMA with not much upward action.
On the Daily, a SunnyBands Sell signal occurred on 02/16/23 at 41.74 and was closed at the Flat DMA at 39.82 for a potential profit of nearly 2 points per share. This ETF is neither an investment nor a tradable at this point. The moves are too narrow and unpredictable.
Who's On Top at the bottom of the chart is now Dark Purple and is below the zero-line.
This week she added 92925 shares of TDOC and 45402 shares of ROKU to her collection.
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 in a forming Head & Shoulders pattern that could mean bankruptcy as the pattern resolves to the downside, or (since H&S is an oft-failed pattern) recover back upward.
MSFT
Created : 04/29/2023 03:22pm Symbol "MSFT", Bar Type = Daily Last Close = +307.26 : the close Friday was at +307.26. Change from last Sunday (+/-) (+285.76) = +21.50 Purple or Gold on top? Gold UOB = +302.33 UIB = +296.15 MidLine = +286.19 MidAngle = 67.30 LIB = +276.24 LOB = +270.06 Above/Below 21-day MAV = 288.41 - Above Above/Below 50-day MAV = 272.94 - Above Above/Below 200-day MAV = 256.11 - Above Color of DMA_H = Gold All Time High = +349.67 Percent = -12.13% on 11/22/2021 359 bars ago.
MSFT (closing at +286.14 Friday, up +21.50 on the week) is Above all 3 MAVs now and recovering quite nicely. Price moved decisively above the Flat DMA and kept going.
In fact, price is now above the UOB and a gap 3 days ago. Now it is down "only" 12% from its all time high.
Now the DMA is moving strongly upward and Price is well above the UOB.
On the DMA_Histogram we have Gold on top and moving nicely upward.
Nevertheless, on the Weekly chart we still have a ways yet to recover to the all time high of 349.67. With price right now at 307.50 that's 42 points yet to go before we enter a new Bull market.
On the Monthly chart one can see that we have now passed the Attractor at 292.64, which is a strong sign, and are heading past the DMA (which has been Flat) to the UIB at 327.19.
On the Weekly chart price is now above the DMA and right at the UOB with the promise of more moves to the upside.
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.
If you want a Free 7-day Trial, CLICK HERE and we'll set it up.
"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. EDITOR'S NOTE: Brian is now up over $100,000! Five months later.
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 the Weekly chart is Flat to down, slowly. Price is down -1.09 on the week. It is below the Flat DMA and on the DMA_H Green is showing, signifying further downward movement is possible.
Price is now at 76.21.
On the Monthly chart price is right at the Flat DMA and stuck in a Pennant formation restricting price movement. Gold is now on top, but the bars are Red, suggesting more downward movement is possible.
Back to the Daily chart, prie is below all 3 MAVs and beneath the Flat DMA. This too suggests the possibility of more downside action.
Price had been weak and only been moving back and forth between the LOB and the DMA. The bottom of the Pennant formation is at 74.12. I'm expecting price to fall below that level.
On the Weekly chart it looks like price will test the Flat DMA in the next week or so and possibly move on up to the 50-week MAV at 86.96.
These are conflicting analyses and price could move in either direction. Be wary.
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:
Created : 04/29/2023 03:06pm Symbol "@BTC", Bar Type = Daily Last Close = +29,475 : the close Friday was at +29,475. Change from last Sunday (+/-) (+27,515) = +1,960 Purple or Gold on top? Gold UOB = +31,334 UIB = +30,178 MidLine = +28,413 MidAngle = 89.01 LIB = +26,648 LOB = +25,492 Above/Below 21-day MAV = 29113.33 - Above Above/Below 50-day MAV = 26889.40 - Above Above/Below 200-day MAV = 21935.15 - Above Color of DMA_H = Gold All Time High = +70,115 Percent = -57.96% on 11/10/2021 368 bars ago.
BitCoin is still moving upward, up +1,960 this past week, likely in response to bank failures and anticipated failures.
Yesterday California announced that yet another bank has failed and the Fed announced it will take over.
Price is now, in the after-hours market, at 28,780 down 795 points.
We got a Buy signal on 03/13/23 at 24,625 followed by a Sell signal on 04/19/23 at 29,470 for a potential profit of nearly 5,000 points.
The Sell signal at 29,470 is now potentially profitable as price is almost 1,000 beneath that.
The DMA is Flat with Gold on top which tells me price is likely to languish sideways for a bit. There is a Pennant formation congesting price which further tells me price will move sideways for a few bars.
In our Podcast interview with Ted Hearne last time, he pointed out that the stock market is going down and Bitcoin is going sideways. He believes that shows strength in BitCoin. Markus Heitkoeter's podcast will be posted next week.
Ethereum
The stats for Ethereum are:
Created : 04/29/2023 03:15pm Symbol "ETHUSD", Bar Type = Daily Last Close = +1,896.10 : the close Friday was at +1,896.10. Change from last Sunday (+/-) (+1,839.37) = +56.73 Purple or Gold on top? Gold UOB = +2,098.14 UIB = +2,019.15 MidLine = +1,890.90 MidAngle = 16.04 LIB = +1,762.65 LOB = +1,683.66 Above/Below 21-day MAV = 1915.28 - Below Above/Below 50-day MAV = 1769.02 - Above Above/Below 200-day MAV = 1530.25 - Above Color of DMA_H = Red All Time High = +4,867.81 Percent = -61.05% on 11/10/2021 382 bars ago.
In the after-hours market ETHUSD is down -50.84 points to 1,845.01.
The Daily chart shows that we have been nicely moving upward but are now retracing back down below the DMA. The DMA is Flat indicating Congestion and sideways action. Price is below the 21-day MAV but still above the other two.
The Fibonacci retracements show price below the 23.6% line which is a hard line in the sand. If price moves above that this week we can expect more movement to the upside, but I'm thinking we will move on down to the DMA at 1,889.
Gold
The stats for Gold are:
Created : 04/29/2023 03:12pm Symbol "@GC", Bar Type = Daily Last Close = +1,999.1 : the close Friday was at +1,999.1. Change from last Sunday (+/-) (+1,990.5) = +8.6 Purple or Gold on top? Gold UOB = +2,043.1 UIB = +2,021.5 MidLine = +1,987.7 MidAngle = 5.85 LIB = +1,953.9 LOB = +1,932.4 Above/Below 21-day MAV = 2011.69 - Below Above/Below 50-day MAV = 1951.26 - Above Above/Below 200-day MAV = 1846.53 - Above Color of DMA_H = Gold All Time High = +2,219.8 Percent = -9.94% on 09/06/2011 2934 bars ago.
Gold. In the face of bank failures and buy outs Gold passed above the magical 2,000 level over two weeks ago. The UOB is now at 2,040 and yet price has dropped below the UIB and may have a bit of a correction to go. It is currently sitting right on the Flat DMA.
On the Monthly chart we are just in a sideways channel with price right at the UIB and the next Attractor is at 2,139.
As I said earlier, it has been reported that the Central Banks are now buying gold and that should elevate price in the coming weeks.
The UOB lies at 2,040 which is my next estimate.
A SunnyBands Buy signal occurred on 02/27/23 at 1,824.9 and moved up to 2,015 before a Sell signal appeared. From that point the SunnyBands Sell signal has now taken us to the current price of 1,991. It's a potential profit sof far of 24 points.
The next Attractor on the downside is at 1,767.
Bonds
The stats for @US are:
Created : 04/29/2023 03:13pm Symbol "@US", Bar Type = Daily Last Close = +131.65625 : the close Friday was at +131.65625. Change from last Sunday (+/-) (+129.90625) = +1.75000 Purple or Gold on top? Gold UOB = +133.43278 UIB = +132.37167 MidLine = +130.62500 MidAngle = 0.43 LIB = +128.87833 LOB = +127.81722 Above/Below 21-day MAV = 131.61 - Above Above/Below 50-day MAV = 129.58 - Above Above/Below 200-day MAV = 130.89 - Above Color of DMA_H = Red All Time High = +184.62500 Percent = -28.69% on 03/09/2020 792 bars ago.
Bonds are up somewhat (+1.75) on the week.
Price is slightly Down (-6/32) in the after-hours market with Bonds moving above the Flat DMA toward the UIB. The technical formation is a large Pennant with price motion getting more and more narrow. If Technical Analysis theory holds, price will move up through the Pennant to go higher.
The Fed announcement this week on Wednesday is likely to make Bonds move -- one way or the other. And the stock market will move as well.
Is there any reason to doubt what the Fed has been telling us all along? Their policy is to lower inflation until it is lower than the interest rate. The market keeps hoping for lower rates and then tanks when it doesn't come. I believe they will stick to their policy until inflation subsides and we have lower employment.
On the Monthly chart price is well below the DMA with Purple on top, but it is moving sideways. A SunnyBands Buy signal came on 11/30/22 but was not confirmed. It is likely that price will move up to the DMA and then turn back down. (Think higher interest rates.)
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. 1-760-908-3070 PT
If you want a yet better price, buy Sunny's indicators by the Bundle. Up to 30% off! This offer is only good until 03/31/23. Don't Miss Out. This offer won't show up again for a long, long time. Sorry, it's over now.
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 au
tomated to provide hands-off trading. Click here for a full list, descriptions, charts and prices.
