It seems like just yesterday BTC reached our last upside target range at 29,890-30,108. Actually, it was Monday [see: Jan 4 Update on Bitcoin.] If it can hold these Fibs, the next major Fib target to the upside is the blue 2.24 and red 3.618 at 40,180-40,138. Go figure. continued for members… … continue reading →
Lots of calls and emails yesterday from folks wondering how the hell the market could be up so strongly in the face of the violent unrest in D.C. When the capitol was breached, shortly after 2pm, the S&P 500 was already up 55 points on the day. This came on the heels of a sharp … continue reading →
The EURUSD, which bottomed when stocks did last March, has officially reached potential reversal territory at our 1.2336 target. At the same time, the 2s10s has bounced off support and shot higher. Per our yield curve model – which has been early but never wrong – this is a quite bearish development.And, oil – which … continue reading →
ES backtested its SMA10 overnight and is back in the red with a potential bearish 10/20 cross in the works. The last one (in late October) fueled a swift 9% correction. Our downside targets remain unchanged. continued for members… … continue reading →
BTC reached our next upside target at 29,890-30,108 [see: Dec 22 Update on BTC.] Had it remained in either the rising pink or purple channel, it might have taken quite some time. But, as we discussed last month, it broke out of both channels and topped the Fib target at almost exactly the time forecast … continue reading →
It’s easy to get lost in the weeds when looking at the broad markets. The one unmistakable trend, however, is that SPX has been on a purposeful path to erase any signs of weakness at every turn. The brief violations of the rising yellow channel’s midline in December 2018 and its bottom in March 2020 … continue reading →
With currencies, commodities and yields coiling, it’s hard to shake the feeling that we’ve entered into a countdown of sorts. While there’s reason to be optimistic from a pandemic standpoint, markets are making new all-time highs even though many important sectors of the economy are far from having recovered their mojo. What gives? What awaits … continue reading →
The rally-that-central-bankers-built continued overnight, with the BoJ winning the booby prize. As the largest owner of Japanese stocks, eclipsing even the Government Pension Investment Fund, the BoJ forced the NKD 2.7% higher on the day and a ridiculous 6% higher since last Monday. This is how it’s done in Japan. As money supply expands at … continue reading →
ES edged slightly closer to our 3730.29 target at its 1.272 Fib extension overnight, this time coming within 3.79. Unless it reverses prior to the opening bell, this complicates things.continued for members… … continue reading →
Wishing everyone a very, Merry Christmas and a New Year of peace and prosperity. … continue reading →