SP500 stocks are at key 200 level and we are waiting to see which way the crowd takes us next.
Bulls say we soft landed and economy is still strong.
Bears say we have yet to feel the full effect of the tightening and higher costs.
I lean bearish and believe the full effect of rates will take time to hit. In 2005/6 when housing was booming and rates were...
A relative comparison between the DJI, JNK & DJT is showing some underlying strength building in the market. This is also known as a "risk on" sentiment and that's when high risk assets do very well
1.25.23 Gold is grinding higher and the silver market Is training in a range. I find it difficult to trade grinding markets even if they're bullish. On the other hand, Ranging markets Are less difficult for me. Short video.
Silver performed better than Gold in percentage term during each crisis.
We will study into the history of Silver and Gold. And during each crisis, Gold and Silver always performed exceptionally well compare to many other markets.
Content:
. Its price behavioural leading to each peak
Price behavioural studies provide us a fundamental reason for every price...
Still stuck in that monthly candle, and the bulls pulled things back above last week's highs, to continue this attempt. The "whoops" reversal on the daily gap down was impressive, especially since it was on an inside candle, which is often bullish, so we will see if there is any follow through tomorrow!
So I exited my trade from yesterday for a profit just above $2000. That puts me at around $2800 for the week. I'm a bit unsure about our next movement. My instinct says we could head lower and have a total meltdown of a day, however, thus far each time we started to meltdown we immediately pulled back up and it has become apparent this 4000 zone is a battleground...
Trade Plan Tuesday.
Pivot(s) are 4005 and 4040.
Break above 4040 targets 4050 / 4069 / 4092
Break below 4005 targets 3990 / 3980 / 3955
In the case of no break, some additional levels to watch are 4021 and 4030.
StayFrosty!
1.25.23 OIL: I believe oil Is going to be a profitable short trade. I define the stops and the target comma and I showed you how to create some rage boxes that could be useful. I compared the trend line of oil to that of the ES.
1.25.23 This is a review of the ES. ...And trend lines Limitations. There are reasons to think that the es is going to go lower, but the price action Shows more buying than selling ...which creates a conflict. You can still trade that market Profitably.... but you have to use your tools Cautiously.
So after jumping out briefly yesterday I went back in short at 4029 this morning. We did get a 30m downtrend mark earlier this morning at 4027. We did not have a major bounce off of it, at least not yet. Currently I'll be looking for at least a 1hr downtrend mark, as the 1hr is in violation (it was in a lower high uptrend mark) so it would allow us to fix it....
Still stuck in the prior monthly range, and it did not help that the NYSE was having major issues this morning. That said, price is started to test last week's highs again, so the bears will want to push back through there and take out yesterday's daily candle. We'll see if there is enough motivation before FOMC next week!
This is my idea for USDCHF and AUDUSD, looking to see if the prices i expect a retrace to will happen so i can get in on the action . I have already missed two set ups as price did not retrace to activate my orders so lets see if this one will get activated.
"Which one is the better buy for growth" was the question asked of me.
I used chat gpt to help. then I ran fundamental, technical, and some macro questions to try to decide.
summary: 2023 may be murky, but both will do well in 2024 and beyond.
