the_sunship

08:43

the_sunship Updated 

Both discussed in the video. The SPX resistance level of 4340 is an area where an objective short can be tried. It may go higher but I don't think by much. Oil is almost done consolidating for a bigger move to the upside. Possible cup and handle target would be $120 Good luck!

05:10

the_sunship Updated 

All in the video. I believe we will finish the A wave today and the B wave tomorrow or Friday before a larger move up to 4350. Good luck!

the_sunship Updated 

A few things to consider - Horizontal resistance (head and shoulders neckline) area has been reached as well as the daily 18ma at 4340 on SPX. If we are going to pull back, this area would be a prime spot. We could travel a little higher, but a gap down tomorrow on some "news" would not surprise me. A "B wave" down from here could take a while - they are in three...

the_sunship Updated 

A breakdown on BTC would put in a nice daily bull divergence - I expect that breakdown to fail and move up strongly to test the previous highs (28k) and maybe higher. Would be a nice little trade before more downside. My guess is we are forming a head and shoulders topping pattern on BTC. Good luck!

05:31

the_sunship Updated 

A rally for a few days to complete the 4th wave makes sense with the new month and good news from the government. Target is 4340-60 and then we should have a final move down to 4200 to complete the downward structure. Good luck!

11:46

the_sunship Updated 

I've updated my idea based on what the RSI and BBands are telling me. Chances are one more move down comes but then we should expect a bounce and it may be quite long - even test the highs if not get higher. There's a lot of problems I'm seeing with the bearish "crash" scenario, so this video explains that as best I can in under 12 minutes. Good luck!

07:45

the_sunship Updated 

Update to the last video. We are at strong technical support with the weekly BB being hit today and the daily BB being hit 5 days in a row. A small bounce is expected at these levels. However, because a number of traders are trapped I don't expect a large rally at this time. A run up to and slightly above 4300 may be about it before more selling. Target is still...

the_sunship Updated 

haven't updated nat gas for a while, because it's been consolidating heavily for most of the summer. Looks like it is ready to break out soon. Holding 3 dollars is key for a much larger upmove to 3.70 and maybe mid 4s. RSI certainly has plenty of room to run and with Nat gas, and it may outperform even past 5.

the_sunship Updated 

Breakup today looks impulsive. If they get over 4, a strong resistance will be broken. Target for triangle is approximately 4.5

10:56

the_sunship Updated 

All in the video, just the basic idea for the upcoming week and maybe into the following week. Support at 4300 is strong, a swift move down under is possible into Monday but I don't think it will break (as of now). A small bounce for a week or more is likely, and I think tech outperforms. Enjoy your weekend and good luck!

09:59

the_sunship Updated 

As promised, an updated video. We are at support levels on NQ and SPX, so a little lower at open could happen but on SPX I expect a bounce back to 4390 at least. Right now the idea of a thrust up to 4500 does not look good, but with the small time frame RSI so low, a bounce is likely today at some point, probably after the open. If the more important level of 4350...

13:00

the_sunship Updated 

A final move up this week is still possible. I'd like to bring your attention to a few details I didn't pay attention to as much as I should have on Friday. Keep in mind the UAW strike could end anytime and FOMC (with a possible rate hike pause) is Wednesday.

the_sunship Updated 

as long as this area holds on a weekly basis, I think silver has a good shot to go much higher. Under this level would be very problematic. RSI on weekly is sufficiently low enough to get a nice push up. No one has been talking about the metals lately, which is a good sign.

the_sunship Updated 

Yes it's breaking down and looks horrible, but it's very oversold and just stabbed through the monthly support channel. It has a few weeks to regain it, and I think that's what's coming. Target is 110ish.

13:14

the_sunship Updated 

All in the video. The market is ripe for a much larger down move now that the chop is over. I believe the target will be 4200-4100 and it could come quickly (by November). I take a look at the larger pattern and compare it a bit to the dot.com (2000) and financial market meltdown (2008) which also looks like an ABC correction.

14:31

the_sunship Updated 

Just an overview of what I'm seeing and why I'm still being patient with my short position. Of course if things don't start falling soon, we may have something else happening and I'll have to be open to that. I cover a few sectors that stand out to me as examples of structure and RSI which looks ready to turn down. Good luck!

10:30

the_sunship Updated 

Just looking at spx cash and IWM today, and thinking about the possible bull and bear traps which may occur. To me, the RSI is definitely hinting at a move up to 4500+ regardless of a move down here or tomorrow. However, I could be totally wrong, so please tread carefully. I will update this chart into the end of the week.

10:24

the_sunship Updated 

All in the video. We had a nice move down last week, but this week I think it's likely that we have a bit of a struggle/chop in both directions before we start falling again. RSI is pointing to more upside and we have a gap open on SPX500 cash at 4500 area. I'll update when I can, I have more traveling this week. Good luck!