As U.S. markets continue to rally against all odds at the expense of overly eager bears and quite frankly rational investing. Is it finally safe to assume the low is in? Despite the Dow Jones Industrial Average and S&P 500 closing in the red, a lot of positive could be taken away from this week. The point I'll make today is not to get overly bullish. I'll show you...
Today, U.S. markets ended flat despite starting off the session on a positive note. Although the close was bearish, could there be a bullish case hidden? Let's see what we can find assessing ZM, SNAP, and SPY. Bull Market in the Cards? We begin today with possibly the strongest performing stock of the day, Zoom. As you can see, Zoom is obliterating its...
No fireworks followed the close as there was little follow through on the gap up this morning in U.S. markets. The cryptocurrency markets, on the other hand experienced some relief led by Ethereum and that is where we begin. Here is a 4-hour chart of ETH/USD. As in stands, Ethereum is within a rising wedge patter. If you follow Elliott wave, this type of wedge...
I did not post this morning because I was interested to see how the markets would sell off. The market did not disappoint. A week ago I posted on how the SPY would be stubborn to break down and it surely has been. The attention this week has been on the energy sector (RIP to those May contract holders) which has been devastated to say the least by the COVID-19...
HI Traders! On today's post I will take a look at Ethereum. Over the past few weeks trading has come to a slow. The volatility is drying up and that only means one thing. The next major macro move is being set up. Over the weekend Ethereum tested a block of resistance between 189 - 194. This block is relevant as it is the consolidation preceding the 56% drop...
Hi Traders! Hope everyone is just as excited as I am with the opportunities the markets are giving swing traders these days. Today, we are going to begin analyzing TSLA and its bullish case and how TSLA may be the trigger that leads to true capitulation in the stock markets. Above you see the long term weekly view of TSLA. It is creating a rising channel...
Hello traders! Good morning on the East Coast of the USA. Hope you all are staying safe on the charts and out in public! Earlier this morning ETHUSD decided to take off and break through trendline resistance (see below). I have to be honest, the significance of this is very small. The real question is if ETHUSD can maintain this momentum. If it can there is...
Hello traders! On a previous post I warned early bears that the SPY would be stubborn to breakdown. I hope you were able to stay safe during the week and please do not forget to like, comment and follow if you enjoyed this content! Today's analysis is straight forward - Is the SPY exhausting? Above I measured the the extension of the move from the low, $218...
Over the past two years I have been known as the biggest cryptocurrency bear. Even when Bitcoin briefly reclaimed $14,000, I questioned it. I called it a bear market rally and would sound the alarm to eager bulls. Turned out that I was right but that doesn't mean that I will not address the elephant in the room which is HALVING. The question is will the halving...
Bitcoin has been a snooze over the past week, trading within a tight range. What could the top cryptocurrency be in store for in the next few weeks? Have the Bulls won and Bitcoin is beginning another multi year bull run? No. Not quiet yet! Bitcoin is currently resting on support near $6700 - $6900 range. Over head resistance is at $7470 and swing high...
With the market closed on Friday we were left with watching the crypto markets take a dip in a less than dramatic fashion. Only left to wonder what the the stock market would have done! For a while I've been beating the drum that Bitcoin is an excellent leading indicator of the markets so it's not farfetched to think that the stock market would have dropped a bit...
Despite rebounding nearly 100% off the March 13 low, Bitcoin has been trading sideways for nearly a month chopping up both bulls and bears eager to ride the next macro move. However, Bitcoin does appear to be running into resistance and there is a case being built that the break could be to the downside. Published here is an Elliot wave view on the current...