Sunday August 27, 2023 VOLUME 7 ISSUE 33
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 go to www.easylanguageooel.com, register as a Free Member and I'll send your indicators right away! AND, you can DOWNLOAD the code from the books there! Vol II is available very soon.
One of my clients wanted me to show buy & sell arrows where SunnyBands signals appear. I have been putting Vertical Lines on each chart to show the Signal. In this and subsequent issues I am continuing to draw the Vertical Lines, but now the Buy Signals are Blue lines and the Sell Signals are Red lines. I hope that helps.
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: Henry Weingarten, Robert Pardo, 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: Arch Crawford.
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 (yes, it' Labor Day). 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 Live Demo Replay Here. 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 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 new "The Definitive Guide to TradeStation's EasyLanguage & OOEL Programming" Volume I, the Programming Guide, and Volume II, the Reference Guide. 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 indicators right away! Vol II will be available in a week or so. We are waiting on Amazon to make it available.
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 Henry Weingarten, Robert Pardo. Sherman & Tom McClellan, Stan Ehrlich. Steven Primo, Carolyn Boroden, Markus Heitkoetter. Dan Passarelli, Ted Hearne. Larry Pesavento and Norm Winski were 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 with the possibility of moves almost down to Friday's low. The predicted high is 34,610 and the low is 34,105. That's a range of over 504 points on the day. Should be exciting!
The moving averages are all 3 beneath the zero-line with the 2 longer-term ones moving slightly upward while the short-term has moved upward, crossing the other 2 and just touching the zero-line.
Moving up on Monday will probably take the short-term MAV above the zero-line.
On the SunnyBands of the Dow price has moved down to touch the LOB in a move below the 20- and 55-day MAVs though it is still a ways above the 200-day MAV. Price is sitting right under a strong Attractor which may deter any further upside action. If price action does move above this line in the sand we will at least move up to the next Attractor at 34,719. We will need to move above that Attractor to confirm that the "baby bull" is back in action.
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 Bonds chart is a weekly view so you can see longer term predictions. Click on the link to http://www.NEoWave.com visit his website.
Notice that he is calling for lower moves to come.
Here is the Weekly NEoWave projection of Bonds. 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 down -153.70 on the week as it rode the LOB all week.
Last week I said: "To tell which way it is most likely to go I look at the DMA_Histogram at the bottom of the chart. The DMA_H is Red while the DMA itself is Gold, but it is Very Close to penetrating the zero-line and turning Purple. When that happens, we will have farther down to go. Only one more red candle will cause the turn." And, that's what happened. The DMA_H was Purple all week.
Price is only above the 200-day MAV now and below the other two. That's still bearish, especially with the DMA Purple On Top.
Last time I said I thought we'd have a 4th wave correction (which we now have) with a 5th wave up. That part hasn't happened yet.
If that's true and what happens, then we will likely move on up to the Attractor overhead at 36,825. That's another 2,300 points of upward potential.
On the Weekly chart, price is below the UIB, with it sitting right on the 21-period MAV. If it bounces off that MAV it's a show of strength and will likely move up to the UIB, or possibly even the UOB. If it continues downward movement we are likely to dip to the DMA, which is currently at 33,801. That would be another 500 points down.
Looking again at the Daily chart, price sits now at 34,346. Last time I said: "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". And it has moved a bit below that level. Watch your SunnyBands on a lower timeframe to keep up.
There was a SunnyBands Sell signal on 08/02/23 at 35,282. We don't have a Buy signal yet. The signal was confirmed on Thursday the 3rd and moved on down to the DMA, which is still Gold. Last week I was questioning whether to wait for price to break the DMA, and in fact it did it. Now there is a potential 936 points of profit in the short position.
Last time I said: "Having broken the Flat DMA on Tuesday put price well below all markers and right at the LOB and Attractor. It's a pretty strong line in the sand and yet the DMA_Histogram is very nearly at zero, ready to pass over and turn purple. That would mean more action on the downside." And that's what has happened.
Prognosis is difficult at this juncture. One blue candle does not a signal make. If Monday is a Blue candle and moves above the body of Friday's candle it will be a Buy signal. If it's a Red candle then price wants to go down to the 61.8% Fib line at 33,719.
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.
The HH indicator shows we are up 19.84% from the low (which is almost a Bull signal) and down 7% from the all-time high. A recovery is in the making.
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 Henry Weingarten, Robert Pardo, 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. Arch Crawford coming Next!
S&P 500
The ES was slightly up +31.50 points on the week, contrary to the DOW, pushing down through the Flat DMA which now has Purple on top and is still Flat. Price touched the LOB last week and bounced for 3 days before turning around.
Price is also beneath the 21- and 55-day MAVs and the 200-day MAV is well below price (at 4,203).
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 by 147 points with price at 4,380.
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 only a few stocks that are going upward strongly. You can also see in the Bars column how many bars ago the signal changed to strongly bullish. To me this looks like the overall market is strongly down and reflects the possibility of bottoming next.
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 14 stocks that meet the conditions this week, another decrease over last week'S 23. There are still a few opportunities 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 : 08/26/2023 01:25pm Symbol "META", Bar Type = Daily Last Close = +285.50 : the close Friday was at +285.50. Change from last Sunday (+/-) (+283.25) = +2.25 Purple or Gold on top? Purple UOB = +319.79 UIB = +312.05 MidLine = +298.94 MidAngle = -36.69 LIB = +285.84 LOB = +278.10 Above/Below 21-day MAV = 302.93 - Below Above/Below 50-day MAV = 298.04 - Below Above/Below 200-day MAV = 209.44 - Above Color of DMA_H = Purple All Time High = +384.33 Percent = -25.71% on 06/13/2022 302 bars ago.
META gave a SunnyBands BUY signal on 11/08/22 at 112.05 (vertical line on the chart) and exited at 301.19 for 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 at 313. META was up +2.25on the week and the Sell signal has a potential 28 points of profit in it.
Price is now below the 21- and 55-day MAVs and headed toward the 61.8% Fibonacci retracement at 271. 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 278 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 and continued on down to the 61.8% Fib line at 271.66. There it almost touched the line and then bounced. We'll just have to watch closely this week to see which direction takes over.
KDP: Keuring Dr. Pepper
This week, on the Daily chart, the price of KDP moved down -0.47 points, sitting right on the Flat DMA all week.
A SunnyBands Sell signal occurred on 08/03/23 and was confirmed on Friday last week at 33.92. Price is now at 33.26 for a small profit. It is below the 200-day MAV and below the 21-day MAV though still above the 55-day MAV indicating the possibility of more movement on the downside.
Note that the DMA, with Gold on top, is still Flat. Lots of churning at this juncture.
I am expecting price to finish filling the gap that occurred on 07/27/23 before it heads back up.
On the DMA_Histogram even though Gold is on top, the histo bars are Red which generally means price will move farther downward.
With the DMA Flat we are only anticipating congestion until price shows its hand.
Now let's consider this coffee company: SBUX (Starbucks).
The stats for SBUX are:
The long-term Attractors at 97 and 95 on SBUX have both been broken: down by -1.75 to a low of 93.71.
We got a SunnyBands confirmed Sell signal on 08/15/23 at 99.63 and price is now 4.15 points lower.
The DMA_Histogram had been at, or very near, zero for a couple of weeks, echoing the thought that we are going nowhere. BUT, this week it has dipped below the zero-line taking Purple On Top and suggesting more downside action is imminent.
Purple is on top decisively now and price is riding the LOB. There is the potential of it turning up at this point, but don't jump the signal.
Last week Gold was technically on top but was so flat that its value was virtually zero. Now it has at least made a signal we can read..
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 : 08/26/2023 01:27pm Symbol "HUM", Bar Type = Daily Last Close = +478.94 : the close Friday was at +478.94. Change from last Sunday (+/-) (+490.39) = -11.45 Purple or Gold on top? Gold UOB = +498.96 UIB = +493.65 MidLine = +483.55 MidAngle = -6.56 LIB = +473.44 LOB = +468.13 Above/Below 21-day MAV = 484.69 - Below Above/Below 50-day MAV = 461.40 - Above Above/Below 200-day MAV = 497.77 - Below Color of DMA_H = Red All Time High = +571.30 Percent = -16.17% on 11/03/2022 202 bars ago.
HUM was down -11.45 this week in a retreat from the UOB. The SunnyBands Buy signal that was so successful has now become a Sell signal, as of Wednesday at 494.66. Price is currently at 478.94 for about a 15 point per share potential profit.
Gold is clearly on top, but has been Flat all week and suggests Congestion for the next few days.
Last week I said: "If I had to guess I'd say that price is likely to move down to the 21-day MAV at 478 and then try to reestablish its move back upward again." It hasn't reestablished an up move yet, but it certainly went exactly where I thought it would.
Price is below the 200- and 21-day MAVs and sitting right under the Flat DMA ("caution") telling me that I want to continue to hold the Short position until I get more information. If it bounces here this next week I'll close it.
AMZN
The stats for AMZN are:
CCreated : 08/26/2023 01:28pm Symbol "AMZN", Bar Type = Daily Last Close = +133.26 : the close Friday was at +133.26. Change from last Sunday (+/-) (+133.22) = +0.04 Purple or Gold on top? Gold UOB = +139.99 UIB = +137.54 MidLine = +133.63 MidAngle = -2.58 LIB = +129.72 LOB = +127.27 Above/Below 21-day MAV = 135.30 - Below Above/Below 50-day MAV = 131.97 - Above Above/Below 200-day MAV = 108.11 - Above Color of DMA_H = Red All Time High = +188.11 Percent = -29.16% on 06/13/2022 302 bars ago.
Price was up on the week, by +0.04, with AMZN creating a large gap week before last, moving sharply above the DMA--causing it to turn upward.
Last week I said: "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.
And now price is back down to 133.01.
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. A small loss on the Long signal.
Price moved down to the DMA which was at 133.38. Then is dropped, on Friday, below the DMA and touched the 21-day MAV and bounced back upward creating a Blue (not Red) candle.
Price meandered around the Flat DMA all week rising above it and falling below. Right now we have a Blue candle sitting just under the Flat DMA.
If I had to guess, I'd say that we have finished a 3-wave and are now facing a potential 4-wave down, probably to about 120. If it turns upward toward the UOB then all bets are off.
On the Weekly chart AMZN has retraced a bit, dropping to the 200-bar MAV where it is nowand it's just below that level now. The wave pattern is the same on the Weekly chart, but it looks like it could end in a 4-wave retracement down to the DMA at 129. So, somewhere in there, between the Daily and the Weekly, is a good bet.
The Weekly DMA_Histogram is Red and getting shorter, suggesting that there is more movement to come on the downside.
TSLA
The stats for TSLA are:
Created : 08/26/2023 01:28pm Symbol "TSLA", Bar Type = Daily Last Close = +238.59 : the close Friday was at +238.59. Change from last Sunday (+/-) (+215.49) = +23.10 Purple or Gold on top? Purple UOB = +265.84 UIB = +257.97 MidLine = +242.75 MidAngle = -18.52 LIB = +227.52 LOB = +219.65 Above/Below 21-day MAV = 242.69 - Below Above/Below 50-day MAV = 257.42 - Below Above/Below 200-day MAV = 197.06 - Above Color of DMA_H = Green All Time High = +414.50 Percent = -42.44% on 06/13/2022 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 several months ago. Several other pundits I keep track of are suggesting a much higher price also.
TSLA was up strongly this week: +23.10 on the week and now is below the Flat DMA ("caution") but still below all 3 MAVs. This level is important to future up moves on TSLA and needs to be broken to the upside to secure any upward momentum.
The SunnyBands Sell signal was on 07/20/23 at 290. Price is down over 51 points from that level for a nice short trade. This signal was closed this week on 08/21/23 at 231 for a potential profit of 59 points.
A new Buy signal came on 08/21/23 at 231 and now price is at 239.19 for a potential profit of 8 points so far.
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 not far below. If price doesn't break above the Flat DMA in all likelihood it will head for the 200-day MAV which is at 197ish.
On the Weekly chart price retraced in a sharp 4-wave movement right down below the weekly DMA, pausing at the Attractor drawn on that level.
As on the Daily chart, the Weekly has price right beneath the Flat DMA, but on the Weekly Gold is on top on the Flat DMA. On the Histogram Red is showing and still getting shorter. This speaks to lower prices on the horizon.
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 Teslas with gas prices high still. It is now back up to $5.00/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 : 08/26/2023 01:29pm Symbol "ARKK", Bar Type = Daily Last Close = +40.97 : the close Friday was at +40.97. Change from last Sunday (+/-) (+40.38) = +0.59 Purple or Gold on top? Purple UOB = +45.67 UIB = +44.74 MidLine = +42.92 MidAngle = -10.20 LIB = +41.10 LOB = +40.17 Above/Below 21-day MAV = 43.77 - Below Above/Below 50-day MAV = 44.96 - Below Above/Below 200-day MAV = 39.50 - Above Color of DMA_H = Green All Time High = +126.32 Percent = -67.57% on 06/13/2022 302 bars ago.
ARKK is now (on the Daily) at 40.86 having moved up +0.59 this week. It is below the Purple DMA and the LOB and is below both the 21- and 55-day MAVs. Price is nearing but not yet at the 200-day MAV and could be poised for further down movement by breaking through that level.
The Attractor at 45.38 did not hold downward movement and now price is right at an Attractor at 39.42.
Last week I said: "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." And that's exactly what it did.
On the Weekly chart ARKK is just going sideways bouncing off the Outer SunnyBands and going nowhere. Price is below the Flat DMA and there is potential for going on down to the LOB at 34.80.
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 Gold because the Gold line is on top of the DMA. But the Histogram is showing Red and getting shorter which speaks to more downside action.
This week she added 129350 shares of ACHR, 4849 shares of NTLA, and sold 19820 shares of EXAS in her fund.
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 : 08/26/2023 01:29pm Symbol "MSFT", Bar Type = Daily Last Close = +322.98 : the close Friday was at +322.98. Change from last Sunday (+/-) (+316.48) = +6.50 Purple or Gold on top? Purple UOB = +342.06 UIB = +336.85 MidLine = +328.01 MidAngle = -12.13 LIB = +319.17 LOB = +313.96 Above/Below 21-day MAV = 325.18 - Below Above/Below 50-day MAV = 334.00 - Below Above/Below 200-day MAV = 286.32 - Above Color of DMA_H = Green All Time High = +366.78 Percent = -11.94% on 07/18/2023 28 bars ago.
MSFT (closing at +322.75 up by +6.50 on the week) is below the 21- and 55-day MAVs (bearish) and yet is far above the 200-day MAV. Just over 4 weeks ago MSFT made a new all-time high but dropped right back down from that level...to the DMA, and now beyond.
The DMA is Flat with Purple on top suggesting further confusion (read: congestion) is in store.
Price has dropped through the 23.6% Fib line and the next level down is now the 38.2% line at 300.10.
Last time I said: "It looks to me like MSFT will drop to the Attractor at 313 before bouncing again." And it dropped to a low of 311.55 on Friday.
A SunnyBands Sell signal was given on 07/20/23 at 346 and closed on 08/21/23 at 321.88 for a potential profit of nearly 24 points per share.
Now we are in a SunnyBands Buy signal from 08/21/23 at 321.88. Current price is 322.75, so that's a tiny bit of profit so far.
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.
Don't ever try to lead the market. It is always right.
VantagePoint shows an Outside day for tomorrow, with the low at 317.41 and a high of 325.96.
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Oil
The stats for CL are:
Crude Light (CL) is down this week by a mere -0.83 points.
The prior week we had a SunnyBands Buy signal that was confirmed on 07/01/23 and closed on 08/11/23 for a potential profit of 12.62 points per contract.
Since the SunnyBands Buy signal on 07/01/23 at we gained over 12 points. And then we got a Sell signal on 08/11/23 at 80.66 which now has almost 1/2 points of potential profit in it.
For the past 4 days price has languished at the Flat DMA and looks like it could turn around and go back up slightly to touch the 21-day MAV at 80.82. That's not much of a move, but to me it looks like congestion is in order, followed by a down move to the LIB at 77.30.
That's what a Flat DMA is all about: indecision.
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 back down to and then dropped below the Flat DMA. Gold is still on top but the DMA_H is Red and moving downward. This could easily denote lower prices.
Price had been weak and only been moving back and forth between the LOB and the DMA. But week before last price moved out of the channel up to the UOB and pulled Gold 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.
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 Internet says the sharp down movement on 08/18/23 is "due to unpredictable macroeconomic headwinds and the recent fallouts in the U.S banking system." To me it was just the technical fulfillment of the SunnyBands Sell signal. There is now 4,650 point profit in the Sell signal.
BitCoin on the Monthly chart is moving up toward the 61.8% retracement at 34,041 but still has a way to go. Friday's close was at +26,080, having moved down on the week by a measly -55 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.
On Thursday and Friday the market was weak, dropping first below one Attractor and then sharply down to the other one. Price is now sitting on that Attractor trying to decide what to do next.
In the after-hours session BTC isup 120 points to 26,200.
The stats for BTC are:
Created : 08/26/2023 01:31pm Symbol "@BTC", Bar Type = Daily Last Close = +26,080 : the close Friday was at +26,080. Change from last Sunday (+/-) (+26,135) = -55 Purple or Gold on top? Purple UOB = +29,776 UIB = +29,035 MidLine = +27,717 MidAngle = -89.71 LIB = +26,398 LOB = +25,657 Above/Below 21-day MAV = 28490.48 - Below Above/Below 50-day MAV = 29599.20 - Below Above/Below 200-day MAV = 25728.62 - Above Color of DMA_H = Green All Time High = +70,990 Percent = -63.26% on 06/10/2022 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 26,200 that is a potential profit of 4,530 points.
Week before last I said: "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." And it is now at that level.
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 : 08/26/2023 01:31pm Symbol "ETHUSD", Bar Type = Daily Last Close = +1,649.25 : the close Friday was at +1,649.25. Change from last Sunday (+/-) (+1,658.39) = -9.14 Purple or Gold on top? Purple UOB = +1,894.29 UIB = +1,834.73 MidLine = +1,735.28 MidAngle = -84.37 LIB = +1,635.83 LOB = +1,576.27 Above/Below 21-day MAV = 1783.41 - Below Above/Below 50-day MAV = 1840.03 - Below Above/Below 200-day MAV = 1671.58 - Below Color of DMA_H = Green All Time High = +4,867.81 Percent = -66.12% on 06/01/2022 322 bars ago.
In the after-hours market ETHUSD is up 7.65 points to 1,657 after having dropped precipitously along with BTC at the end of last week.
The Daily chart shows that ETHUSD had been in a sideways channel since March and last week was less than half the way up. Now it is decisively broken the yellow rectangle by dropping -185.41 points on the week before!
Now it is trying to get back into the yellow rectangle and is sitting right beneath it inside a Pennant formation. See chart. On the Histogram Green is showing, and moving upward, showing the possibility of it moving up to the DMA at 1,720.
Price dropped below the 200-day MAV and then recovered back up to that level where it is currently sitting. Price will need to break above the 200-day MAV to show further progress.
Purple is on top with the DMA_H showing Green lines below the zero-line.
Last week I said: "...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." And it did just that and a bit more.
To get further insight we'll look at the Weekly chart next. Price is, like on the Daily, below the yellow rectangle. In fact, it dropped to the LIB and then bounced slightly. The 55- and 200-period MAVs are coincident and pric is very slightly above them. The 21-period MAV lies overhead at 1,861. It might take a week or two, but I think price will make an attempt to test that level.
Gold
The stats for Gold are:
Gold.
Gold continued to move downward this week, losing -9.14 points and landing at 1,943.
VantagePoint has been correctly predicting this downward movement all along for weeks. They suggest the market will move both ways tomorrow with a predicted high of 1,928 and low of 1,908.
In the after-hours market tonight price is up 3.1 points.
Take a look at the prediction from Glenn Neely last week 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 months.
Bonds
The stats for @US are:
Created : 08/26/2023 01:32pm Symbol "@US", Bar Type = Daily Last Close = +119.75000 : the close Friday was at +119.75000. Change from last Sunday (+/-) (+119.21875) = +0.53125 Purple or Gold on top? Purple UOB = +124.03361 UIB = +122.96417 MidLine = +121.12500 MidAngle = -2.86 LIB = +119.28583 LOB = +118.21639 Above/Below 21-day MAV = 120.93 - Below Above/Below 50-day MAV = 124.11 - Below Above/Below 200-day MAV = 128.23 - Below Color of DMA_H = Green All Time High = +165.90625 Percent = -27.82% on 06/10/2022 304 bars ago.
Bonds are up +0.53125 on the week. The DMA_H turned Green and then Purple and then Green (where it is now, moving upward) again and price is sitng on a long-term Attractor at 118^18 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 moved up from the LOB right to the Flat DMA in likely anticipation of further rate hikes in September at the next meeting.
With Purple on top and the DMA Flat we can expect more congestion as price decides what it wants to do with the possibility of another rate hike in September.
On the Monthly chart the US is being held up by a Strong Attractor that lies at 118^18. It is also in a double Pennant formation that will need to be broken to get up to the Flat Purple DMA. Price broke below the boundary of the most recent Pennant, which is suggestive of further downside action, but it has not yet broken the boundary of the previous Pennant.
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 Flat Purple DMA and while it bounced off the LOB on Tuesday the signal was not confirmed. We'll see what this next week brings.
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