*The charts are on a logarithmic scale*
Bitcoin has had some very strong price action of late (clearing both of my prior price targets i'll say too), and as my prior BTC piece noted alllll the way back in May that after the $14,000 target was breached we would more than likely see a period of FOMO to prior highs...
...We may very well be seeing the beginnings...
With Election proceedings still in process amidst legal challenges to a plethora of voting irregularities, i thought it would be fitting to check in with my personal favorite 'safe haven' asset.
As you can see price has been steadily trending higher on the weekly timeframe, experiencing a few instances of profit-taking...
Gold has had a great run, however i believe that we may very well see a slight easing before continuing higher, firstly let's look at some charts.
Gold is below the daily 21 ema - This means that so long as we remain below this level, near-term the bears are in control.
LQD has just had 4 consecutive closes below the 21 ema, this may well be a sign of weakness in an already overextended market.
As you can see, LQD and the SPX have had a very tight correlation, particularly since the liquidity hose was turned on after the market crash in March. This is why a selloff in the bond markets, may very well forewarn of a potential...
As many of you will know, i have been keeping a very keen eye on the altcoin market and the compression phase that it has been in for the past 18 months.
Well, the fortnightly squeeze has just fired on the TOTAL2 (broad altcoin market gauge), this is a very strong tailwind for the crypto space and is a significant edge moving forward.
This move will be...
Gold has been moving up very nicely after breaking out of the quarterly squeeze (silver is also breaking out of a quarterly squeeze now).
But the question is, where to from here?
But in the near-term the outlook is a little bit more complex, so let's take a quick look at the yellow metal.
As you can see we are fulfilling the multi-year...
A squeeze is a period of consolidation prior to a move (usually explosive) in a particular direction.
As you can see, Silver is currently in the beginning stages of firing a quarterly squeeze, this is extremely important as it a strong indicator of the macro environment that we are heading into, namely, one with very high...
Well, the time has come to pick up some more of the yellow metal down under.
As you can see, the pullback i forecast has played out quite nicely and is now presenting us with a nice opportunity to participate in the potential subsequent move higher.
I would place a stop at a close below the Vol...
Quick update on XAO and the broader Aussie market.
It seems that insanity is the path of least resistance and the major index is set to target the 61.8% fib level, around the 6,200 level.
This measured move higher from the bull flag would als coincide with the 61.8% fib level.
Quick pattern update on the altcoin market, post halvening.
There appears to be a tentative breakout of a shorter-term inverse H+S pattern, that should it fully resolve would place the market around the 98-100 billion mark.
This would be a good step towards resolving the broader double bottom pattern i last wrote...
What you are looking at is an equally weighted 'portfolio' of all the FAANG stocks,
And what the performance would have looked like if you had put an equal dollar weighted amount into each, at the earliest point you were able to, i understand that this is impossible to time or predict, but what it does do, is it serves to illustrate...
Quick one on some pattern symmetry i noticed on the altcoin markets.
The 2016-2017 bull market was preceded by three things, one was a pattern of price consolidation and 'priming.'
The next was a breach of clear overhead resistance.
2015-2016 breach of...
As you can see we have just (tentatively mind you) closed above the 38.2% fib retracement of the major cyclical bear market in 2017-2018 on the weekly timeframe and outside the overhead trendline i identified as the first hurdle Bitcoin would need to overcome, this is undeniably bullish for Bitcoin.
We are also...
Watch for a strong close above $1,740 for a potential measured move to $1,900 (prior cycle highs).
Set a stop with a close below around $1,680
It is only a matter of time until gold retests highs, for those who are more inclined to 'trade' gold, which i do not recommend, then there is a potential nice bull flag shaping up.
Potential H+S pattern on Morgan Stanley (MS)
May wish to wait for further confirmation of the breakdown before entering, if you choose to enter now, i would use a close above the right shoulder as an initial exit.
P.S. The H+S pattern i noted on JPM also seems to be developing quite nicely, overall the financial sector (XLF) is one to keep an eye on
Silver has been very unloved of late, but if the DOW/ Silver ratio is any guide, then we very well may see a period of out performance quite soon.
Provided we see some key levels taken out.
Metric #1: Trendline Analyis
Monthly: Basic Trendline Analysis
First off let's use some basic trendline analysis, right from the...
Markets are anything but boring, idiotic perhaps, but not boring that's for sure.
The Nasdaq is just shy of 7% from the prior ATH, despite the fact that the economy has still NOT reopened, many small businesses are in tatters, large business are hat in hand to the Fed and Treasury for bailouts AND north of 30 million Americans are unemployed.