About meStewdamus Trades -
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
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From a technical perspective, the dollar is doing exactly as it should. Technical analyst should have expected a retest of what was previously very strong support. We have now observed that retest and the dollar has permission to continue its descent. If descent is not immediate, sideways action can be expected. But, least likely, is the possibility that...
I believe this chart is so important it warrants revisiting the data. Indeed, the fed has to be cognizant of this same data and is most certainly is watching it closely. Therefore, we must do the same. In this video, I am going to explain why the housing market data, even though it's week, supports my thesis of a blow-off top in the stock markets this...
The market expects 25 basis points tomorrow. What they are unsure of is how it will look in March. While the fed may indicate yet another rate hike in March, the dollar, vix, and treasuries are telling us else wise. Let's take a spin through our lead indicators today as well as Bitcoin.
You all know that I have been talking about this blowoff top thesis for quite some time. I have good reason to believe we are beginning that run today. Let's talk about the details: where we're going, what is the time frame, and, most importantly, how should we trade this?
You all know that I have been expecting and discussing this day for many moons now, the day we break above our macro downtrend. Today is that day. Day 1 of what I expect to be a blowoff top that will surprise many investors, maybe a majority of investors.
Before I get ahead of myself in enthusiasm, we will need another confirmation candle here on the...
Quick update on Bitcoin. Our old Cup and Handle pattern has been completed and the target was reached. Now, it appears as though a new Cup and Handle pattern is forming. Let's take a look at the charts and find some good entry/re-entry areas.
Exemplifying surprisingly bullish price action, Bitcoin has blasted through huge amounts of resistance and has now achieved its target.
On both this chart and my log chart, the levels of resistance that have been broken overhead are not to be taken lightly. They almost certainly will act as good support going forward. The resistance that has been...
Bitcoin seems bullish. Will this run continue? Before we get too bullish, I want us to be cognizant of a few caution flags I am seeing.
1. Daily RSI Overbought
2. Downtrend Resistance at $18,700, a key price.
3. Shorts Way Oversold!
4. S&P Resistance at huge Area of Confluence
5. Gary Gensler Gunning for Gemini and Genesis
CPI at 6.5%. In line with expectations. Market remains rather neutral. Which means the news will probably not be a big enough kick to get us to the topside of major resistance on the charts. Unless/until JPOW & Co. actually pivot, either via language or actions, the market is likely to continue its current price action underneath our downtrend resistance.
The 10 year T is fighting the line. A bounce and break of current downtrend could mean more pain. But a break of the secondary support would demolish the bears as it would signal my long-expected blow-off top in the U.S. stock market. Stay tuned.
I recently dove a bit deeper into the Puell Multiple indicator. In this video, I want to share what I have discovered. We'll discuss: what the Puell Multiple is, what it calculates, and how that calculation is made. We'll also closely examine what this valuable indicator tells us about the current Bitcoin price. Enjoy.
In this video I cover the divergence between the 2 and 10 year treasuries and the recent FOMC press conference language. Jerome Powell is promising one thing (continued rate increases), while the bond market seems to be claiming otherwise (Fed pause incoming). Who's right? Let's take a closer look.
Happy New Year! It's been a terrible year for crypto, the markets, and the global macroeconomic environment. But the good news is that I believe we have left most of the negative declines behind us ...at least for a bit.
So, in this video, I'm going to look at what I see in 2023 for the U.S. dollar, the housing market, Bitcoin dominance, the stock...
Now that we've retested the neckline of our H&S which intersects perfectly with the 200 day moving average, the dollar will have found permission from the bulls, who will give up here, to continue it's descent.
Follow the VIX in correlation with this downward trend and we will begin to observe still more bullish activity in the stock market. Should the moves be...
BTC has formed a bullish inverse H&S pattern. However, during this scandalous bear market, one bull indicator after another has failed. Therefore, I don't place as much value on T.A. as I would during a healthy, unmanipulated, market. This is not that and we have to always be prepared for another "event" like a Tether audit or other.
In this update, I am going to focus mostly on the U.S. Housing Market decline and what it means for the Feds reactionary policies, the U.S. stock markets, crypto, and the future of our U.S. economy.