benjihyam

benjihyam Updated 

Update: Largely the same idea, just the timing changed. I was wrong in that I initially thought we'd reject the $525-530 area and move down to my target of $480, then form a final high by the end of July/August around $550. However price decided it wanted to go straight higher to $550 area before it falls. Think we'll see a final high be put in sometime in...

benjihyam Updated 

I'm not sure what's going to happen in the immediate term (1-2 weeks), but after that I think we'll see a bond rally from middle of June into July up above $92 and the possibility of going as high as $100. My base case is that we get a move up to $97ish level, but not ruling out the possibility of retesting the highs of the recent move. However, after July,...

benjihyam

These BTC miners all look horrible. I don't know how anyone is convinced we're going higher here. If we look at the chart on the 3D, you can see that we've formed a lower high and price is rejecting the cloud. Should price get under $20.19, it would be extremely bearish as there is very little support below that level. I think price likely falls from here down...

benjihyam Updated 

Finally got the reversal I've been looking for in $UVXY. My entry was at $23 and I think we have a large move ahead of us. If we look at the chart, we have our first green flat bottomed Heikin Ashi candle. Normally with a move like today's people are exiting puts and shorting UVXY, but I think this move is just starting and vol is about to become unpinned. Over...

benjihyam

Lots of people have been talking about buying the dip in bitcoin miners, but bitcoin miners look like they have a long way down to go from here. You can see w/ Heikin Ashi candles that the trend has changed and we've rejected off of the trend line. From here, I think it's likely that WULF retraces all the way back to retest it's support at $.80 before a real...

benjihyam Updated 

Contrary to what everyone believes is going to happen: "We're going to see a new ATH by the end of 2024 then we decline after" "There's no way they're going to let the market fall in an election year" I think we're about to start a historic correction to retest the lows from covid. Since October, price action has gone parabolic, and normally when parabolas...

benjihyam

I sold out of all of my crypto yesterday because when I looked at the chart, I realized that we've started the final selloff before the real bull run begins. As you can see from the chart, after the run in 2021-2022 we've been in the process of correcting. It's my view that this year's run was corrective, not impulsive like many are thinking-- and that altcoins...

benjihyam Updated 

I know most people don't think this is a possibility, but I think it's highly probable. I think we'll see the US10Y break the recent highs and head to 5.59% as the first target to the upside. Then I think we'll continue the bullish trend and end the bullish move in yields at 8.13%, I think at that point, that's when you'll want to go long risk for the long...

benjihyam Updated 

I don't think anyone is expecting this, but I think we're setup for yields to hit new highs this year. The chart indicates yields are breaking out to the upside again, and this move could be a strong one. I think we're setting up to see a new high in yields by November topping somewhere between 5.35%-6.40%. Let's see if it plays out.

benjihyam Updated 

Thanks to @TORNADOF5 for reminding me about this. A friend sent me a tweet last night about how banks are levered up on debt and that prompted me to look at the chart of KRE. As you might remember, AMEX:KRE was one of the worst performing ETFs at the beginning of this year with the failure of a ton of local banks. But since earlier this year, I haven't...

benjihyam

NASDAQ:NFLX while it's been a nice 300% gain over the last year 2 years, I think the trend is starting to reverse. If you look at the chart, you'll see that we've formed a double top. You'll also see the price has held the trend line fairly well on the way up. Now we've rejected it twice and I think that price is heading much lower from here. I think we're...

benjihyam Updated 

People have been calling for the oil bull market to begin for the past two years and the trade largely hasn't worked as we've gone sideways to down. However, based on the chart, it looks like we're finally ready for a run. This would also line up with my bearish equity thesis. Oil looks to have broken out of an inverse head and shoulders pattern and althought...

benjihyam Updated 

I was long calls of NASDAQ:MSFT into this morning and took profits in the first couple hours of trading. I initially thought we would see a move higher to the upper resistance at $455 or potentially as high as $465, but price couldn't break that $453 level. After relooking at the chart, it looks like we're forming an ending diagonal. If we break down from...

benjihyam

QQQ had an impressive run, however, that run is now over and it's time to look at shorting this thing back into the ground. As you can see, momentum has already flipped negative w/ the first red weekly heikin ashi candle. I expect a sharp pullback here into the election and I think we'll bottom under the $250 sometime before the end of the year. Let's see how...

benjihyam Updated 

NASDAQ:META had a good run, but now that run is coming to an end. I started buying puts today when price was at $524. I bought 6/21 $300P. There's a chance price could break the current highs, but it wouldn't change my bias. I think starting later this month, we're going to start to see a large move down in META. Overall, I think there's a possibility that...

benjihyam Updated 

Turns out after analyzing the chart again, I wasn't bearish enough on BTC. In my last idea , I thought we would move down to $57k, while I still think that's likely, I wasn't bearish enough because I think the risk is actually to GETTEX:48K -52k (which I don't think anyone is expecting, especially here). Everyone calling for $72k to break which creates a short...

benjihyam

NASDAQ:LINK looks like it's on the verge of a breakdown of it's H&S top. Should price break below $12.78, the target for the move would be $2.72. We just got our first red candle on the 2D heikin ashi which increases the likelihood that it rejects here and falls lower below $12.78. Let's see how it plays out over the coming months.

benjihyam Updated 

If we haven't already topped, I think the upside is limited here. Price is currently at $71k and if we get a move higher, I think price would top out at $ 78k-$ 81k for this cycle. I see a few different scenarios from here that can play out. 1. Price tests $ 48-52k from here, we rally quickly from there but then roll over and see new lows below where we went in...