Sunday August 13, 2023 VOLUME 7 ISSUE 31
AMZN | ARKK | BTC | DOW | CL | ES | ETHUSD | GC | HUM | KDP | META | MSFT | SBUX | TSLA | US
The Definitive Guide to TradeStation's EasyLanguage & OOEL Programming--Vol I: Programming Guide NOW AVAILABLE on Amazon.com. Be among the first 100 to order (and please review) and I'll send you my favorite TradeStation/MultiCharts/Traders WorkStation ancillary indicators, for FREE. Just Fax (760-903-2260) or email me a copy of your proof of purchase and I'll send your indicator right away! Vol II will be available in a week.
ALL NEW! Announcing a NinjaTrader version of my Flagship indicators, SunnyBands AND NOW DMA_HISTOGRAM! Order Here. OR, request a Free 7-day Trial with FREE Personal Orientation & Instruction with Sunny!
"When pursuing prosperity you must follow the laws of Heaven. Don't be afraid to be kind and charitable." - Hok Yat Louie (Brandt Louie's grandfather)
Want to see a Quick Slide Set pdf of the SunnyBands Rules I use? Click Here and become a Free Member of MoneyMentor, or if you're already a Member, just Login.
NEW Podcasts Dropped: Sherman & Tom McClellan, Stan Ehrlich, Steven Primo, Carolyn Boroden, Markus Heitkoetter, Dan Passarelli, Ted Hearne, Larry Pesavento and Norm Winski. Great interviews with Sunny & Sam. Give 'em a listen! Coming Next: Robert Pardo.
More Sunny Harris interviews: Podcasts with The Matt Kohrs Show, Moon Dev, AlphaCast, Macro Jabber, 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.
HAPPY HALF HOUR! On Monday September 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 August. 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 trials 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. Or you can see the 9 slides for a quick presentation of SunnyBands rules.
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 another Zoom call 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
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.
WARNING: Read this to get an idea of what can become of our future.
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", and "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 (Samuel K. Tennis is a master EasyLanguage programmer & former lead programmer developing TradeStation and EZL) have been friends for more than 30 years and are partners in writing our upcoming "The Definitive Guide to TradeStation's EasyLanguage & OOEL Programming" Volume I, the Programming Guide and Volume II, the Reference Guide. It looks like, at this point, it will be about another couple of weeks before they go to press. If you want an autographed copy, click here. (Only in US mainland) AND, they are in full color!
Vol I: Programming Guide NOW AVAILABLE on Amazon.com. Be among the first 100 to order (and please review) and I'll send you my favorite TradeStation/MultiCharts/Traders WorkStation ancillary indicator, for FREE. Just Fax (760-903-2260) or email me a copy of your proof of purchase and I'll send your indicator right away! Vol II will be available in a week.
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 Sherman & Tom McClellan, Stan Ehrlich. Steven Primo, Carolyn Boroden, Markus Heitkoetter. 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.
The VantagePoint prediction for tomorrow is for a sideways to up move from Friday's close. The predicted high is 35,457 and the low is 35,111. That's a range of over 346 points on the day.
The moving averages are flat as can be, with all 3 right below the zero-line. There is a strong Attractor below the current prediction that I think will be tested this week. It lies at 34,978.
Last week I said: "Further, the medium-term average has turned downward through the long-term average which is potentially signalling a move farther down." And that's what's going on.
On the SunnyBands of the Dow price was above the DMA until Wednesday when I headed quickly down to the Flat DMA. With price sitting on the DMA we could just as easily bounce off it to go back upward as break through it and go on down to the LIB at 34,692.
Glenn Neely's Market Prediction
Glenn Neely has graciously granted us continued access to his weekly predictions! 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 S&P is a weekly view so you can see longer term predictions. Click on the link to http://www.NEoWave.comvisit his website.
Notice that he is calling for higher moves to come.
Here is the Weekly NEoWave projection of the S&P 500. 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 was up +214.20 on the week. Yes, it's up, but slowly meandering upwards. The DMA is Flat and price has really just been sitting on the DMA all week.
Price is above all 3 MAVs which in itself is bullish.
When the DMA is Flat it simply tells us we are in congestion. It doesn't tell us where we are likely to go next. Only looking at previous price moves will indicate that. To me it looks like we are in a rolling 4th wave that needs to resolve into a 5th wave up.
If that's true and what happens, then we will likely move on up to the Attractor overhead at 36,825. That's another 1,500 points of upward potential.
On the Weekly chart, price is above the UOB, though it's given a hint of wanting to roll over. Gold is solidly on top on the DMA.
The weekly chart looks like price is going to continue on upward. From the all-time high of 35,661 on January 29, 2021 we are now only down 4.52%. It has been a laborious recovery but it has moved steadily upward. Perhaps we are in for new highs.
Back to the Daily chart, price sits now at 35,281. If it breaks down througn the DMA, and if the DMA turns Purple, we are in for more downside action. Probably to the LOB at 34,367. Watch your SunnyBands on a lower timeframe to keep up.
There was a SunnyBands Sell signal on 08/02/23. The signal was confirmed on Thursday the 3rd and moved on down to the DMA, which is still Gold. It has not had enough momentum to move through the DMA so it looks like the signal is now defunct. But, I'm not out of it yet, waiting to see if it bounces off the DMA or not.
Last week I said: "Price is technically above all 3 MAVs and Gold is on top and now Flat. That in itself is calling for congestion." And that's what we have gotten: congestion.
Thanks to the mind of Sam Tennis I have a set of beautiful indicators that draw trendlines from the pivot High (all time high, HH) to current price and one that goes from the pivot low (LL) to current price. You can see these on this chart.
Keep in mind that markets never go straight up or straight down. They always move in fits and starts. And this one is not yet (on the Weekly chart) above the sideways channel. On the Daily chart we have moved sharply above its channel and putting in new local highs. The all-time high was on 01/14/22 at 36,513 and we look to be heading there, though slowly.
The Podcasts of Sherman & Tom McClellan, Stan Ehrlich, Steven Primo, Carolyn Boroden, Markus Heitkoetter, Dan Passarelli, Ted Hearne, Larry Pesavento, Norm Winski, Greg Morris, Larry Williams, Linda Bradford Raschke, Anka Metcalf and Robert Colby are now posted. Enjoy these great interviews. Robert Pardo coming Next!
S&P 500
The ES was down -17.25 points on the week, contrary to the DOW, pushing down through the Flat DMA which now has Purple on top and is pointing downward. Price has touched the LIB, where price is sitting right now.
Price is also beneath the 21-day MAV and the wick of the Friday candle is touching the 55-day MAV. The 200-day MAV is well below price (at 4,191).
Last week I said: "On the Daily chart price is still above the 200- and 55-day MAVs but is now below the 21-day MAV. That alone could speak to the move down to the LOB at 4,446." And this week ES moved down to 4,459. Very close!
On the Weekly chart we had a SunnyBands Sell signal on Friday 08/04/23 at 4,527 which was confirmed and now we are in profit territory with price at 4,484.
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 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.
Note that there is a new column in this figure: Bars Ago. A client of mine asked for this extension, and here it is. This tells how many bars it has been since the Direction reversed.
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.
Notice the new column, in black. At a client's request I added "Bars Ago" to show how many bars ago the Direction flipped.
RadarScreen of Stocks
Here again, back by popular demand, is my RadarScreen of S&P 500 Stocks:
The RadarScreen shown here is sorted by DMA Direction. Notice the Gold Direction column. You'll see that there are still many stocks that are going upward strongly. You can also see in the Bars column how many bars ago the signal changed to strongly bullish.
In the DMA column you can see that most of the symbols are angled upward with the DiffAngle negative (meaning they are close to turning). For the most part they are either Bullish or Bullish Turning Up.
Stock Scan for those Above all 3 MAVs & >1 million shares traded
This Scan includes a condition that symbols must have >= 1,000,000 volume as well as being above all 3 MAVs, as well as Price being between 20 and 200. That narrows the search down quite a bit. And now there are ONLY 33 stocks that meet the conditions this week, a substantial decrease over last week'S 66. Lots of opportunity still here, nevertheless. You could now check out these symbols against the RadarScreen figure above to see which of these has the highest PHW for trading.
Stocks
Created : 08/12/2023 04:09pm Symbol "META", Bar Type = Daily Last Close = +301.64 : the close Friday was at +301.64. Change from last Sunday (+/-) (+310.73) = -9.09 Purple or Gold on top? Purple UOB = +323.33 UIB = +316.68 MidLine = +306.65 MidAngle = -5.00 LIB = +296.62 LOB = +289.97 Above/Below 21-day MAV = 308.93 - Below Above/Below 50-day MAV = 293.68 - Above Above/Below 200-day MAV = 199.96 - Above Color of DMA_H = Purple All Time High = +384.33 Percent = -21.52% on 05/27/2022 302 bars ago.
META gave a SunnyBands BUY signal on 11/08/22 at 112.05 (vertical line on the chart) and with current price at 301.19 has a potential profit of over 189 points per share. Now there is (as of 07/31/23) a SunnyBands Sell signal which was confirmed on 08/02/23. META was down -9.09 on the week.
Price is now below the 21-day MAV and headed toward the 55-day MAV which is coincident with the LOB at 289.97. That's still bearish.
Once we get through this period of congestion and correction it looks like we are going on up to the Attractor at 338.
Last week I said: "It could easily drop to the LOB at 281 before moving back upward. But again, a Flat DMA means "danger" so it could pop right back up. Stay nimble." And it is moving down toward that level now.
Last week price dropped below the 76.4% Fib line at 314.90. Now it is taking a bit of a break. This is common and has dropped to the DMA many times over its long trek upward.
KDP: Keuring Dr. Pepper
This week, on the Daily chart, the price of HUM moved up +0.20 points, sitting right on the Flat DMA.
A SunnyBands Sell signal occurred on Thursday and was confirmed on Friday last week at 33.92. Price is now at 33.67 for a small profit. It is below the 200-day MAV and above the other two.
I am expecting price to move back down to the DMA and possibly on to the 21-day MAV at 33.09.
There is an Attractor below at 32.84 that is likely to be tested, and that would put price under the 21-day MAV for some further bearishness.
On the DMA_Histogram even though Gold is on top, the histo bars are Red which generally means price will move farther downward.
Now let's consider this coffee company: SBUX (Starbucks).
The stats for SBUX are:
I drew an Attractor (which you can see on the chart) on SBUX in January 2022 which was again being tested, at the 99 level. And this week price just moved sideways around the Flat DMA mostly going nowhere, even thought it moved up slightly by +0.31.
The DMA_Histogram has been at, or very near, zero for a couple of weeks, echoing the thought that we are going nowhere. Nevertheless, Gold is still on top.
Last week I said: "Purple has been on top since 05/11/23, which you can clearly see on the Who's On Top indicator at the bottom of the chart. But, it could easily turn up this week as the Histogram moves above the zero-line." And Gold went on top late last week.
Paying attention to these SunnyBands signals keeps me consistent. If you haven't already, maybe you'd like to get a FREE 7-day Trial for yourself. It's FREE and it comes with 2 Zoom sessions where I Personally give you Free Installation and Orientation.
HUM
The stats for HUM are:
Created : 08/12/2023 04:11pm Symbol "HUM", Bar Type = Daily Last Close = +493.91 : the close Friday was at +493.91. Change from last Sunday (+/-) (+484.28) = +9.63 Purple or Gold on top? Gold UOB = +501.27 UIB = +492.85 MidLine = +476.64 MidAngle = 69.81 LIB = +460.43 LOB = +452.01 Above/Below 21-day MAV = 464.87 - Above Above/Below 50-day MAV = 465.30 - Above Above/Below 200-day MAV = 500.90 - Below Color of DMA_H = Red All Time High = +571.30 Percent = -13.55% on 11/03/2022 192 bars ago.
HUM was up +9.63 this week in a bounce off the Flat DMA the week prior. There was a SunnyBands Buy signal on 07/18/23 at 438.50 and now price is at 493.91 for a potential profit of over 55 points per share.
The SunnyBands Buy signal is still in effect as we head for the 200-day MAV at 501.
Gold is clearly on top, after breaking through the Flat zone. Last week I said: "The DMA_Histogram is slowly making its way to the zero-line and could easily cross over this week, speaking to more upward movement." And now it is above the DMA with Gold on top.
While price is below the 200-day MAV it is almost there with it now above both the 21- and 55-day MAVs.
AMZN
The stats for AMZN are:
Created : 08/12/2023 04:12pm Symbol "AMZN", Bar Type = Daily Last Close = +138.41 : the close Friday was at +138.41. Change from last Sunday (+/-) (+139.57) = -1.16 Purple or Gold on top? Gold UOB = +142.46 UIB = +138.82 MidLine = +133.04 MidAngle = 17.22 LIB = +127.25 LOB = +123.61 Above/Below 21-day MAV = 133.43 - Above Above/Below 50-day MAV = 129.91 - Above Above/Below 200-day MAV = 106.42 - Above Color of DMA_H = Red All Time High = +188.11 Percent = -26.42% on 05/27/2022 302 bars ago.
Price was down on the week, by -1.16, with AMZN creating a large gap week before last, moving sharply above the DMA--causing it to turn upward. Last week I said: "Price is above all 3 MAVs which speaks to bullishess." And up it went.
Monday after the gap was up but starting Tuesday it moved back down, perhaps in an effort to fill the gap. If that happens we are looking at price to retrace back down to 130.73.
We had a SunnyBands Sell signal last week that was confirmed. It was quickly reversed to a Buy signal on Wednesday and has turned quickly back to a confirmed Sell signal.
Price could easily move down to the DMA which currently lies at 133.38. To me that would be sufficient to fill the gap. At that point the DMA would likely turn Flat and price would meander sideways for a bit.
On the Weekly chart AMZN has continued to move upward since the SunnyBands Buy signal on 03/17/23. Last week I said: "There is a serious Attractor at 145.56 which is likely to be met soon." Now we are only a few points away from that target even with the Daily price retracement.
TSLA
The stats for TSLA are:
Created : 08/12/2023 04:12pm Symbol "TSLA", Bar Type = Daily Last Close = +242.65 : the close Friday was at +242.65. Change from last Sunday (+/-) (+253.86) = -11.21 Purple or Gold on top? Purple UOB = +283.69 UIB = +276.44 MidLine = +263.07 MidAngle = -54.61 LIB = +249.70 LOB = +242.45 Above/Below 21-day MAV = 263.20 - Below Above/Below 50-day MAV = 257.95 - Below Above/Below 200-day MAV = 196.50 - Above Color of DMA_H = Purple All Time High = +414.50 Percent = -41.46% on 05/27/2022 302 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 aseveral months ago. Several other pundits I keep track of are suggesting a much higher price also.
TSLA was down -11.21 on the week and now is below the DMA that was Flat. Though it bounced off the LOB last week it has continued on downward taking the LOB with it.
Price is right now at a strong Attractor at 242.65 that eminated from the PHW dot on 06/26/23. The DMA_Histogram is moving solidly down and as such price is likely to continue through the Attractor to the 50% Fib line at 223.74.
In all likelihood TSLA will move up to the DMA (currently at 270) to test it.
Purple is on top on the DMA, which could result in further downside movement. Price is now below the 21- and 55-day MAVs and the 200-day MAV is far below.
On the Weekly chart price has confirmed the SunnyBands Sell signal from 3 weeks ago. If that holds, it is likely to test the DMA, which is Gold on top and lies at 238.51.
This is still my favorite stock. But, at this point I'm a trader, not an investor yet until it gets out above the Attractor at 294. The stock is still down 33% from its all-time high, so there is a lot of room on the upside.
Seems to me people should be flocking to TSLA with gas prices high still. It is now back down to $4.60/gal in my neighborhood. When I drove up to Santa Monica a few weeks ago 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. I just found out that Mercedes is projecting a 2024 electric Maybach. That's my next car.
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 huge run-up potential).
ARKK
The stats for ARKK are:
Created : 08/12/2023 04:13pm Symbol "ARKK", Bar Type = Daily Last Close = +42.75 : the close Friday was at +42.75. Change from last Sunday (+/-) (+45.38) = -2.63 Purple or Gold on top? Purple UOB = +49.27 UIB = +48.07 MidLine = +46.02 MidAngle = -18.78 LIB = +43.97 LOB = +42.77 Above/Below 21-day MAV = 47.19 - Below Above/Below 50-day MAV = 45.24 - Below Above/Below 200-day MAV = 39.30 - Above Color of DMA_H = Purple All Time High = +126.32 Percent = -66.16% on 05/27/2022 302 bars ago.
ARKK is now (on the Daily) at 42.75 having moved down -2.63 this week. It is now below the Purple DMA and touching the LIB and both the 21- and 55-day MAVs. The Attractor at 45.38 did not hold downward movement.
With the slope of the downward move pretty steep it looks to me that price could continue on down to the next Attactor at 39.42.
If it doesn't drop that low, it at least looks like a move to the 50% Fib retracement is now in line. That would put price at 40.38.
I have twice offered Cathie Wood FREE use of SunnyBands for stock selection and timing. No answer. I really want to see this powerful woman succeed. IF any of you have a connection, please let me know. Comments.
Who's On Top at the bottom of the chart is now Purple for the last 3 trading days as Purple is on top on the DMA. The Sell signal from SunnyBands was on .
This week she added 340891 shares of ACHR, 72508 shares of DNA, and sold 31312 shares of TSLA in 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!
MSFT
Created : 08/12/2023 04:13pm Symbol "MSFT", Bar Type = Daily Last Close = +321.01 : the close Friday was at +321.01. Change from last Sunday (+/-) (+327.78) = -6.77 Purple or Gold on top? Purple UOB = +346.39 UIB = +341.52 MidLine = +333.39 MidAngle = -43.61 LIB = +325.27 LOB = +320.40 Above/Below 21-day MAV = 336.94 - Below Above/Below 50-day MAV = 336.05 - Below Above/Below 200-day MAV = 281.69 - Above Color of DMA_H = Purple All Time High = +366.78 Percent = -12.48% on 07/18/2023 18 bars ago.
MSFT (closing at +321.01 Friday, down another -6.77 on the week) is below the 21- and 55-day MAVs (bearish) and yet is far above the 200-day MAV. Price is still Just over 2 weeks ago MSFT made a new all-time high but dropped right back down from that level...to the DMA, which is now showing Purple on top and the DMA_H is strongly bearish.
Price is right now touching the 23.6% Fib retracement and could rebound from that. Yet again it could drop below that level, and if it does will likely head for the 38.2% Fib line at 300.10. Whole numbers like this are often targets to be tested.
It looks to me like MSFT will drop to the Attractor at 313 before bouncing again.
A SunnyBands Sell signal was given on 07/20/23 at 346 and price is now at 320.75 for a potential profit of nearly 26 points per share.
On the Weekly chart price is right on the Flat DMA with Gold still on top (but the DMA_H is Red and headed down). It wouldn't surprise me either way the next moves go. It could easily bounce off the weekly Flat DMA or drop beneath it and continue on down to the 300 level. Now is the time to be nimble and follow the impending movement.
On the Monthly chart a SunnyBands Sell signal was given and confirmed on the most recent bar. BUT, the DMA_H is showing Green bars, suggesting that more upward movement over the "long-term" is next. (To me a monthly chart is very long-term, but not to everyone.)
VantagePoint shows an Outside Day for tomorrow, with the low at 317.47.
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 Carolyn Boroden, Fibonacci Queen.
Oil
The stats for CL are:
Crude Light (CL) is up this week by +0.37 points.
Since the SunnyBands Buy signal on 06/29/23 at 69.79 we have gained over 13 points.
Last week I said: "We are right at the overhead Attractor at 83.40 which will likely be resistance." And that's what has happened this week. Price faltered after attempting to break that level and is now barely below it. To edge higher we will need to break and maintain that level.
On the Weekly chart price is drifting up somewhat and is now right above the Purple DMA. The DMA Histogram shows signs of moving slightly upward, but has a way to go before crossing the zero-line.
On the Weekly it looks like price has farther up to go, probably to the UIB at 85, which is also where the Attractor lies.
On the Daily chart price has moved up above the DMA with Gold is on top. Price is above all 3 MAVs. Last week I said: "Breaking above the 200 will likely set more upward moves in action." And that's what has happened this past week.
On the Daily chart a SunnyBands Buy signal was given at 69.86 on 06/29/23. Price is now at 82.91 for a potential profit of just over 13 points per contract.
Price had been weak and only been moving back and forth between the LOB and the DMA. But now price has moved out of the channel up to the UOB and Gold is now on top. I expect price to continue its questioning this week as it tries to decide whether to go up or down, but will resolve in further movement to the upside.
VantagePoint predicts tomorrow's movement to be a strong upward movement with the predicted high at 84.84 and the low at 81.32. That should be interesting.
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
BitCoin on the Monthly chart is moving up toward the 61.8% retracement at 32,398 but still has a way to go. Friday's close was at +29,465, having moved up on the week by +375 points.
Still on the Monthly, price is right below a Flat, Purple DMA with a Strong Attractor at 32,256 holding price down. Price is right below the Flat, Purple DMA, potentially holding price down at that level.
We are a long way from the all-time highs of 70,000 during the irrational exhuberance phase.
I'm thinking price will rise to the DMA at 35,409 to test the DMA before deciding its next direction.
In the after-hours session BTC is down 105 points to 29,360.
The stats for BTC are:
Created : 08/12/2023 04:15pm Symbol "@BTC", Bar Type = Daily Last Close = +29,465 : the close Friday was at +29,465. Change from last Sunday (+/-) (+29,090) = +375 Purple or Gold on top? Gold UOB = +31,352 UIB = +30,765 MidLine = +29,883 MidAngle = -78.15 LIB = +29,001 LOB = +28,414 Above/Below 21-day MAV = 29646.43 - Below Above/Below 50-day MAV = 29454.70 - Above Above/Below 200-day MAV = 25316.80 - Above Color of DMA_H = Red All Time High = +70,875 Percent = -58.43% on 05/26/2022 304 bars ago.
Bitcoin has been very choppy on the Daily chart, with LOTS of Pennant formations, which shows lots of congestion.
Right now price is sitting in yet another Pennant formation, and right below the Flat DMA. With Gold still on top. But just barely.
On the Daily chart, we got a Buy signal on 06/18/23 at 26,445 and exited on 06/28/23 at 30,480 for just about 4,000 points potential profit.
The signal currently in effect is a Sell on 07/06/23 at 30,730. With price now at 29,270 that is a potential profit of 1,460 points.
BTC is right at a strong Attractor at 28,374 that might hold price up. If it breaks that level we are likely going on down to 26,303.
In our Podcast interview with Ted Hearne, he pointed out that the stock market is going down and Bitcoin is going sideways. He believes that shows strength in BitCoin. Check it out.
Ethereum
The stats for Ethereum are:
Created : 08/12/2023 04:15pm Symbol "ETHUSD", Bar Type = Daily Last Close = +1,843.80 : the close Friday was at +1,843.80. Change from last Sunday (+/-) (+1,820.71) = +23.09 Purple or Gold on top? Gold UOB = +1,932.78 UIB = +1,901.99 MidLine = +1,855.38 MidAngle = -9.51 LIB = +1,808.76 LOB = +1,777.97 Above/Below 21-day MAV = 1864.33 - Below Above/Below 50-day MAV = 1851.75 - Below Above/Below 200-day MAV = 1649.39 - Above Color of DMA_H = Red All Time High = +4,867.81 Percent = -62.12% on 05/18/2022 322 bars ago.
In the after-hours market ETHUSD is down -4 points to 1,839.
The Daily chart shows that ETHUSD has been in a sideways channel since March and is now less than half the way up. Breaking 2,085 will show a new up move is in progress. As long as we don't better this price we are still in a sideways channel.
Nevertheless, the DMA_H moved above the zero-line into positive territory and now it is Gold BUT the DMA_H is about to cross over into negative territory. That speaks to the potential of price moving on down to the LOB at 1,782.
Gold
The stats for Gold are:
Created : 08/12/2023 04:16pm Symbol "@GC", Bar Type = Daily Last Close = +1,946.6 : the close Friday was at +1,946.6. Change from last Sunday (+/-) (+1,976.1) = -29.5 Purple or Gold on top? Purple UOB = +2,020.2 UIB = +2,004.6 MidLine = +1,979.0 MidAngle = -73.79 LIB = +1,953.4 LOB = +1,937.8 Above/Below 21-day MAV = 1987.60 - Below Above/Below 50-day MAV = 1988.55 - Below Above/Below 200-day MAV = 1968.99 - Below Color of DMA_H = Purple All Time High = +2,214.3 Percent = -12.09% on 05/26/2022 303 bars ago.
Gold. In the face of bank failures and buy outs (I still think more are to come with the vacancies in Office Real Estate and owners defaulting back to the banks). Gold passed above the magical 2,000 level over 14 weeks ago. The UOB is now at +2,039 and price is below the DMA and heading the Attractor below. If it breaks that Attractor it could easily drop down to the next Attractor at 1,835.
Gold this week slipped by -29.5 points and is heading down to an Attractor that lies at 1,929. It is a pretty strong Attractor that I think will hold price at that level, at least temporarily. It may produce some backing and forthing at that level as it tries feebly to recover.
Take a look at the prediction from Glenn Neely (week before last) which portends significant further down moves in Gold.
On the Monthly chart we are just in a sideways channel with price above the Long Term Attractor at 1,887. And we are in the middle of a Pennant formation. I'm guessing that price will move down to test that Attractor (which is right at the DMA) and then bounce back upward. This is contrary to Neely's predictions; I'm seeing Gold moving back up to bounce off the Flat DMA.
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.
Bonds
The stats for @US are:
Created : 08/12/2023 04:17pm Symbol "@US", Bar Type = Daily Last Close = +120.75000 : the close Friday was at +120.75000. Change from last Sunday (+/-) (+122.00000) = -1.25000 Purple or Gold on top? Purple UOB = +127.57750 UIB = +126.20250 MidLine = +123.88000 MidAngle = -12.00 LIB = +121.55750 LOB = +120.18250 Above/Below 21-day MAV = 124.15 - Below Above/Below 50-day MAV = 125.72 - Below Above/Below 200-day MAV = 128.35 - Below Color of DMA_H = Green All Time High = +165.90625 Percent = -27.22% on 05/26/2022 304 bars ago.
Bonds are down -1.250 on the week. BUT, the DMA_H turned Green and price is stiitng on a long-term Attractor that could cause price movement to falter and churn, speaking to congestion.
On the Daily chart we spent the last few weeks moving below the Purple DMA. And on down to the LOB. And below! This past week price bounced back up off the LOB to touch the LIB but then went beneath it and almost touched the LOB. In tonight's after-hours session price is flat at +01/32nd points. Price is currently at 120^25.
With Purple on top and the DMA sloping down we can expect more lower prices.
On the Monthly chart the US is being held up by a Strong Attractor that lies at 118^10. It is also in a double Pennant formation that will need to be broken to get up to the downsloping Purple DMA.
Price is currently stuck in two interlocking Pennant formations, giving it pause, neither moving up nor down.
There is another Attractor on the Monthly chart at 108^31 which could be the next level down if interest rates are again raised.
There are several "Fed member speaks" occasions in the near future, but the important one is September 19-20 when we will see what they do next.
Back to the Daily chart: Price is below the Purple DMA and while it bounced off the LOB on Friday the signal was not confirmed. We'll see what this next week brings.
On the Monthly chart price is well below the DMA with Purple on top, and sloping downward. There are two interlocking Pennant formations holding price in check. Nevertheless, we rebounded from the supporting Attractor at 121^14. The DMA_H is showing Green and is getting shorter, possibly portending more upward movement, to the DMA.
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