Sunday July 07, 2024 VOLUME 8 ISSUE 25
AAPL | AMZN | BTC | DOW | CL | ES | GC | GOOGL | META | MSFT | NVDA | TSLA | US
Introduction
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NOTE: This issue will be short. I've been ill and need to bo back to bed. I'll do as much as I can.
IMPORTANT NOTES and NEWS:
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Meet and get to know the Legends in this industry! Listen in as they talk about their beginnings and their travails as they learned to trade. 48 Podcasts so far! Latest podcast posted this weekend: Robert Miner! Dynamic Trader, Gann-Elliott & Fibonaccii Price and Time Expert!
Sunny Side of the Street (SSS)
The charts below are now organized first alphabetically by commodities and then alphabetically by stock symbol. It should be easier to read and find the symbol you want to take a look at.
VantagePoint Prediction
This prediction is for Monday to be lower than Friday's high and to stay above Friday's low, though not by much What it doesn't tell us is the Close. Will we go higher and then close lower? Or will be start low and go up higher?
The predicted high is 39,455 while the predicted low is 39,255. That gives us a range of about 200 points for Monday . I mark the High and Low on my chart with a Horizontal Line and watch the day's progress with respect to the VP predictions. I'll even show you in TAWS; just remind me.
The moving averages are flat as can be, but all 3 are above the zero-line. The moves in the Dow have been shallow, with big wicks, but nevertheless heading upward.
Tune in to Trade Along With Sunny (TAWS) on Wednesday mornings at 9amPT each week to see how I use it and my proprietary indicators to trade live. Put in your FIRST and LAST names. All newcomers welcome! You are welcome to 2 Guest Passes before you subscribe.
The VP moving averages are all above the zero-line and climbing.
Take a look at the Monthly chart below for more long-term insight.
Overview (DOW & ES)
DOW ($INDU)
Chart
Statistics
$INDU was up by 257.01 this week and now is sitting at +39,375.87.
Last Time I Said
"On 05/31/24 we got a Buy Setup, but the next bar did not confirm it by closing higher, so it was not triggered. The following bar did confirm but by then it was too close to the DMA to capture much profit so I marked it with a Gray Vertical Bar meaning a Closed Trade." And, I'm still in Cash on this one. For me, it needs to close above the UIB and even then there's the risk it won't go beyond the UIB.
Current SunnyBands Signals
We were up by 257.01 this week. For a whole week (minus one holiday) that's not very many Dow points per day. The Dow likes to move in 200 and 300 points days when things are going well.
Analysis
This week we were up by -+257.01 in a lackluster week. For a whole week (minus one holiday) that's not very many Dow points per day. The Dow likes to move in 200 and 300 points days when things are going well.
The signal is still for Cash at the moment. We need more information before choosing a side. As long as it's sideways, we do nothing.
For Reports, this week we have Consumer Credit; Optimism Index, Fed speaks; Wholesale Inventories, Fed Powell Speaks + 2 more; Jobless Claims, CPI, Fed speaks, Fedl Budget; PPI, Consumer Sentiment.
Here's the LINK to my source of data. The next big Fed Speak is July 30 - 31. Again, it's all fear and greed, so it could go either way. Here's a link to this week's critical reports.
I think we could see a steady progression on up to the UIB or maybe even the UOB, which lies at 39,740.
Now it's 31 bars since the ATH We are currently below 40,000, and I think we should see some congestion for a few more days.
The next Fib level on the Monthly chart lies overhead at 41,340 and I do think we will get there, but it's going to take more time. BUT, be careful in here; it could easily go down. Ask me to show my chart to you in TAWS-Daily this week. It's important.
Monthly DOW
The Blue line on the Monthly is now just at the UOB and below the Orange Trendline I drew on the chart long ago. It looks like there is more room on the upside longer term. Exciting!
ES (S&P 500)
@ES was up by 100.00 this week and now is sitting at +5,621.50.
"We have been in a SunnyBands Cash signal since 06/21/24 after realizing +442 points of potential profit. That times $50 per point is $21,100 in 2 months!"
On Wednesday we got a Long Signal as Price closed at the UIB from 5568.75. Price in the after-hours is down 7 points to 5614. That would right now be 45.25 per point. I'm holding in for a week of important reports and the opening of the next Earnings Season. Expect volatility.
Price has gone nowhere fast last week. It was largely sideways and non-productive. BUT, on Wednesday it broke the UIB and became a SunnyBands Buy Signal at 55.
On the Natural Numbers chart we had our breakout! We are now above 5,600, at 5,614.75.
Gold is on top in the DMA but Slope is winding down toward the zero-line on Red bars and Slope is above the zero-line but Red and getting lower.
Price is below the UIB and heading for the DMA. A break below the DMA could easily portend a Sell siignal.
Commodities
BitCoin (BTC)
@BTC was down by -3640 this week and now is sitting at +56,685.
"We are now in a Sell signal, from 69,755 on 06/07/24. With price now at 56,685 that's about 9,430 points of potential profit." And it continues. BTC is going on down.
And drop it did, on down to the 200-day MAV.
We are still in a Sell signal, from 69,755 on 06/07/24. With price now at 56,685 that's about 13,070 points of potential profit.
It looks like it should drop back down to the LOB at 59,286.
ARE YOU taking these signals? Are you making this potential profit? If not, why not?! At the very least join my Live Trading Room: Daily at 9:00am PT.
On the Monthly chart Price is very nearly at the Flat DMA with Gold on top.
Further, Price is below the 21-Week MAV which doesn't bode well.
Back to the Daily chart. Price is below the 21- and 55-day MAVs and only above the 200-.
We are holding on to the Short trade with 13,070 points of potential profit in it.
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Thanks for reading my weekly missive. I'm really sorry, but that's all I can do tonight. I'm just too sick.
At least you have the overview.
I would appreciate your insights. EMail Me HERE.
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PERFORMANCE 2024 to Date:
"I wanted to let you know how helpful your daily trading room sessions have been. It is refreshing to see someone trade live and answer any questions that we have. It is so much better than a service that just wants to sell you something and send you on your way. This is really speeding up my learning and I look forward to trading along with you. Thanks for all you are doing to help people learn the art of trading." - Rick N.
"I had the fortune of meeting Sunny Harris and her excellent trade software SunnyBands. From the beginning, she gave me all her support, even though I didn't have any experience with day trade and English is not my first language she is always available for any questions. I tested SunnyBands free trial and the results were amazing $3.5K in the first week, I asked for another free trial and she was able to help me, I did it again, and after these records, I decided to buy the license for Sunny Bands. Thank Sunny for your unconditional support and your excellent software." -Juan R.
"I have studied swing and day trading for 10 years primarily with Gann methodology but I might be able to say I have studied it all. I lead a monk's life studying 12 hrs a day. I have found SunnyBands correlate to the high work of mathematics in price and one tool I treasure now for my chart analysis and trading. The first day I loaded SunnyBands I made $275 with one contract in about a minute; I thought to myself how can this small monthly fee not pay for itself? The opportunity to trade with such an experienced trader as Sunny is a real gift; the experience you will get in a year will be priceless. Doing this each trading day with Sunny will train your subconscious mind to become a consistent winner in the market. If you are thinking with a poverty mindset you will have a long hard road; don't do that. This is really awesome to be able to trade with each day and so appreciative of you doing this. To live trade as a mentor like you do is very hard and much respect and appreciation for you doing this Sunny!" - Arthur M.
"Well, I just want to say the I LOVE them !!!! ( your bands )....I've torn apart Bollinger Bands, Keltner etc, etc... and NOTHING comes CLOSE to what YOU have created.... :-) I've talked to CMT's who've said "oh yeah.... they're just Bollies".....and I almost spit out my coffee! I've watched your videos where you are walking a new customer through their use... and I "got it all" ( understood )... the "turns" are RIGHT THERE!.... Bollies are too general....and Keltner which Rashke says she likes....are only a hair better than Bollies.... YOURS blows both of them away.....of course YOU already know that." - Marius V.
The Podcasts of Jon Najarian, Johm Bollinger, Tom DeMark, Tushar Chande, Steve Nison, Gene Inger, Hima Reddy, Brad Matheny, William Eng, Louis Navellier, Cynthia Kase, Howard Getson, Jake Bernstein, Arch Crawford, 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. And after that whom would you like to see next?
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WHAT ARE YOU MISSING?
Several features of Sunny Side of the Street are missing from previous issues. Natural Numbers, Scan of Stocks, DMA_H RS, PHW Scan, and more. What would you like to see me bring back? Comments.
HAPPY HALF HOUR! We will have the next HHH on Wednesday July 3rd at 1:15pm PT. Sam Tennis and 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. It's a great place to make new friends. Sign Up Here. This Free meeting of like minds will be held once a month, on the 4th of each month. We all have a great time and share liberally on the 4th of evey month. It's a lot of fun! Don't miss it next time. Click HERE to join us. You must be registered to get the invitation and link.
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