About meI am known in some circles as Leonardo Bonacci, Leonardo of Pisa, or Leonardo Bigollo Pisano. I am an Italian mathematician from the Republic of Pisa, considered to be "the most talented Western mathematician of the Middle Ages." Others say that, though.
Get ready for the noon OPEX booster thrusts. Three points of severe resistance shown as we have clearer signs of getting bearish. Be extra cautious at these marks if you are crazy enough to go long right now. If it weren't for the bailing out, we would be through the basement right now.
Have a great weekend ahead.
So it looks like we did the proper correction overnight, well not really proper, but what was expected at least. I am thinking one of two things: 1) either this is held and we shoot up because of OPEX or 2) we head down to that 3730s (or lower potentially to 3718 but not as likely. Either way I would expect the usual OPEX Friday where we head down until about 11am...
All this inflation talk from Jerome Powell, I think, is making people very nervous. What a load of BS and deflection. What he means to say is, "Yes, we need to increase inflation sooner than imagined, but I can't say that because everything will tank. Yes, this is another situation like Japan, but I have no real answers of substance. No, the economy is not in good...
I am not a poster of virtual currency as I haven't looked much at it since I was in at $60 a lifetime ago and out at $1200 (I know it sucks). I believed in it then as I do now, but never imagined we would be where are. I thought the government was going to shut it down long ago, but they didn't and boy did it stage a coup on the dollar.
Anyways, I am starting to...
Gold is obviously in a heavy downward trend, question now is does it turn around at about 1825ish or head in a continuing trend to the bottom of the down channel at 1720ish.
Either way, two great buy opportunities as I think the magnet price any way you look at it is 1900.
This is relatively short term in thought. For longer term, I believe gold is in trouble...
If we go full on bearish (which is hard to believe with all the support and push up), I plotted 3 points of interest when touring Bearville. Elliot Wave would tell us we are nearing a wave 4 down and an ABC correction of grand magnitude on the daily. RSI is tickling overbought and reaching lower lows with every dip, MFI on 3hr is overbought, everything points to...
I see some very conflicting sentiments about gold; some say dump, some say soar. Either way, volatility, I think, is something we can all agree on.
Overall I am bearish about it, but in the more short term, I used some trendlines, the down channel it has formed, and some retraces to come to these conclusions shown in the chart.
Still amazes me that everything...
Thought I would plot some interesting prices based on trendline crossing and Fib (my) ratios. I would say they are all plausible, but as we have learned from this year, anything is possible, so I wouldn’t get too bearish until there is some more momentum picking up downward. Potentially after options expiration this Friday would be a good time to get some puts or...
This seems to me to be the most likely scenario. We should have a push up for Friday, OPEX and VIX expiration day. We are going oversold, so expect some type up thrust up insanity to happen.
Overall, pretty sidewarys until March time I am thinking. Some choppiness at the time to change presidents, but unlikely market will be left to truly crash organically. At...
What we have all been trying to foresee…could it be this simple?
Doing some daily chart analysis, I began to plot where trendlines were converging on both ES and gold. Would you know it; they seemed to align inversely.
Interestingly enough, Inauguration day, Wednesday, January 20th started to show as one potential date in the short term for a drop.
Prediction for the next year is exactly flat IMO; lots of ups and downs, people claiming a crash, people claiming 4k, FED stepping in, interest rates increasing, inflation kicking in earlier than expected, Biden coming to office, civil unrest, COVID mutations and vaccines...all of it amounting to being flat as a pancake for 2021.
This is just a thought, but...
Targeting just over 30 in VIX for upcoming week or two. Can't make any promises, but it would make sense with the time resistance and the trend line on top. That is, if charts can be trusted :)
We shall see how it all plays out.
We could bounce off any of the 3 points of bounce shown IMO. Things are not looking so good for the market with the dollar increasing, VIX rising, and many signs that things are turning around for the worst. Definitely buy point if we get down to the bottom trendline which is not out of the realm of possibility.
Predictions for the week are as follows, subject to...
For what it is worth, we are on the cusp of a New Moon:
"Their heart rate and blood pressure were both lower during full and new moons. Plus, their heart rates returned to normal levels more quickly during full and new moons. In this study, researchers concluded that humans were more physically efficient during full and new moons."
Generally speaking, whether it...
When drawing the trendlines and being mindful of the down channel, a very intresting crossing point occurs: 1900, almost exactly. I would expect to continue with structured swings as it has been and ending up right at that target.
Predictions for gold in upcoming time periods are as follows:
End of Next Week
End of February
End of 2021