LTCUSD testing the local low, with the RSI matching nicely. Could be an opportunity to take some quick longs. No volume though... Channel is highly volatile with multiple touches of the -3 Standard Deviations as the lower bound, however the price has a >90% fit to the trend line, so it's a strong and consistent directional trend. #crypto
NCLH has been taking on water since June 17, when they announced a further hold period on return to regular operations; which would add a further 3 months minimum to their suspended period. Since then, the price has been trending downward and leading into the weekend broke below $15 for the first time since mid-May. The cruise industry has a really good...
FAANG showing that the super giants of the tech world also know how to be slow and steady. This move is still one of the only ones that I believe makes sense in the broader global context that the markets exist in.
USOIL is up 40% is just over a month since it broke through the resistance @ 28.0. Anyone remember when oil was going to be worthless and we would all be getting paid for it? Guess the bulls had the right idea all along!
DXY has found support @ 96.0 again; and is making it's way back to test 97.8-98.0.
NASDAQ must be a favourite of the quants, because this channel is almost irrationally clean; with only 2 instances of movements breaching outside the +/- 2 standard deviations of the mean. Overall, the spot price has a 98.5% fit to the trend. 20% Year-On-Year growth on an index; and not even a global pandemic slows it down for more than 8 weeks. What a world we live in.
BTC is in a short time frame falling channel, however the support around 9.0-9.1 again triggers a relief rally. Price is (slowly) moving upwards within the channel; however with the upper bound AND the 9.3-9.4 resistance right above the current price; it's not the best moment to be looking for long positions. At a macro, we are still floating between 28D MA and...
SPX looks hungry to close the gap created 2 weeks ago, and still holds a rising channel. It goes against every ounce of my energy, but hey - here we are...
LTCUSD turns bearish, at least for the short term. The lower bound of the channel is +4 deviations; so volatility is extremely high. The spot has a high correlation to the mean though, so it stands to reason we should see some filling out of the top half of the channel before this trend reverses back bullish. Interesting to see the trend deviate from the other big...
SPX continues to recover from the march pullback. Lots of volatility at the moment, which is making people uneasy...
NCLH announced yesterday a further delay to cruise operations; but fundamentally they have a good amount of available cash reserves to survive this - and I think traders are seeing the same thing. I really like the long term potential on this asset.
BTCUSD can't break $10k, so it must be dead right? Social media is ablaze with experts on technical analysis proclaiming that if BTC can't break $10k in this rally it is proof that it never will. Unfortunately, many of these (self-proclaimed) experts don't seem to be able to zoom out on their charts. If they could, they would see a clear rationalisation of why...
TOTAL Mcap has seen a decline in volume recently, and with that the spot price has failed to break into new territory (280B+). Price has broken below the lower bound of the trend (-2 standard deviations from the mean); however important to note is RSI has seen recovery from this area in recent history. The next key support is at $240B; which coincides with the...
GOLD even got in on the pull back action today, and we saw a flash of a bearish divergence. However as the spot price breaks before the lower bound of the trend; we are seeing the development of a hidden bullish divergence which would make more sense in the context of the overall trend. If the markets drop, logically GOLD should get some form of positive...
USOIL is dipping ever so slightly out of it's rising channel. There is more bullish news at the moment, but perhaps the bulls were too quick to expect things to go back to normal here. Too early to tell is this is a broken trend, but tomorrow should tell us a lot more.
DXY has finally regained consciousness and pulled up out of its nose dive. Given all the extenuating data that compiles the DXY, it's hard to give RSI too much power (if any?) but we are seeing a technical overbought flash - which at least suggests there has been a lot of green candles as of late...
SPX touched the bottom of the channel (-2 standard deviations from the mean) and RSI dips into oversold. Friday will be an important pivot point in this month.
LTCUSD, while not bullish, is a clean channel. There is a little chop on the lower half which is making the R fall below 0.9; but sits nicely withing the boundaries. #crypto