Eighty_Street_Capital

Eighty_Street_Capital

The QQQ is up +12% from the Oct 13th bottom & is now attempting to break topside resistance levels. Things to note: - Next resistance @ 50EMA & 0.382 FIB @ $285 - Resistance @ 100EMA & 0.5 FIB @ $295 - Bullish cross of 9 above 21 - BF measured move complete & new low @ $254 - Major support below $254 is @ $230 - Daily RSI not bad, 4HR reaching OB The QQQ has...

Eighty_Street_Capital

The SPY is up +11% from the Oct 13th bottom & is now attempting to break topside resistance levels. Things to note: - Broke above 50EMA today - 9 turning up bullish - Next resistance @ 100EMA + 0.5 FIB @ $390 - Major resistance @ 200EMA + BF & downward sloping TL - BF move played out setting lower low @ $349 - Next major support below $350 is @ $325 - RSI heating...

Eighty_Street_Capital

ETH has been ripping these past two days & was up +20% at its peaked earlier today. Things to note: - Broke 100EMA & back into BF channel - Next major resistance @ 200EMA + GP FIB @ $1710 - 9EMA turning up bullish - June low has held @ $880 - RSI getting very OB The highest I could see ETH going in this run would be the 200EMA & Golden Pocket FIB @ $1710ish...

Eighty_Street_Capital

BTC has seen a nice +10% pumping over the last two days so let's have a look at how things could unfold over the coming weeks. Things to note: - Hitting resistance @ 100EMA - Next level to watch is $21.5k - $22k - Bullish cross of 9 above 21EMA, lookout for the 9 to cross above 50 - Current macro bottom @ $17.6K has held so far - RSI heating up on the daily &...

Eighty_Street_Capital

The DXY has been selling off on hopes that central banks are nearing the end of this interest-rate raising campaign that started earlier this year. Things to note: - Bearish cross of 9 below 21EMA - 50 broke as support - Major support @ 100EMA & LT support TL @ $108 The following notes in-no-way suggest that history will repeat, but they are interesting...

Eighty_Street_Capital Updated 

SPY is potentially forming a head-and-shoulders pattern on the daily TF. We spoke about our relief rally targets the other day being the Golden Pocket FIB retracement from the Sept 12th breakdown @ $390, which happens to be right @ the 100EMA resistance level. If we get the GP retracement, that would give us a perfect right shoulder for the H&S pattern. The...

Eighty_Street_Capital

BTC is fast approaching the LT downward sloping trendline that it formed from the Nov 2021 ATH and will have to decide whether to break out or break down by Oct 7/8. The bulls have been unable to break this trendline since Nov 2021 and were rejected by it at the end of March (just before the April, May & June crashes) as well as on Sept 13th, where we had a...

Eighty_Street_Capital

Now that ETH has finally followed BTC, the Dow, the S&P500 and the Nasdaq in breaking below its bear-flag pattern that was formed back in June, let's have a look @ what could be in store for October. Things to note: - broke below BF channel in September - holding support @ the monthly 50EMA - ETH has been the slowest to fall, so unless we are to believe it is...

Eighty_Street_Capital

September was an important month for BTC as it finally broke below the bear flag channel that it formed off the June lows. Things to note: - Aug & Sept monthly candles both closed BELOW the 50EMA - unable to get back inside the BF channel since it broke down from it late August - June low @ $17.6K has held so far, but Dow, S&P & Nasdaq have ALL made lower lows,...

Eighty_Street_Capital

Let's have a look at the September close as the market gears up for a wild October. Things to note: - price broke & closed below the bear-flag channel on Sept 13 - set lower low on Sept 27 - held support & closed ABOVE the 50EMA on the monthly TF Our relief rally target is the Golden Pocket @ $390ish. Bear targets: - Bear target #1 $325 - Bear target #2 $307 -...

Eighty_Street_Capital

October is gearing up to be an interesting month, so let's have a look at the September close to figure out what comes next. Things to note: - broke below bear-flag channel for first time on Sept 1 - set a slightly lower low on Sept 29 & 30th - closed the month ABOVE the 50EMA Our relief rally target is @ the Golden Pocket around $295, which would give us a...

Eighty_Street_Capital

September is over so it's time to look at the charts from a high TF perspective. The DJI took a beating this past month, suffering greater than the S&P & Nasdaq from a technical perspective. Things to note: - on Sept 13 broke & closed below the bear flag channel for first time since it formed off the June low - set a LOWER low on Sept 23rd - closed the monthly...

Eighty_Street_Capital

The USD has been crushing the FX market & taking no prisoners along the way. We've been talking about the need for a cool-off period to allow the RSI on various TFs recalibrate, and also give the risk-on assets a chance to bounce before the next bearish leg down. Bearish case: - Looking for DXY to cool-off to $108 - $111 allowing risk-on assets to...

Eighty_Street_Capital

ETH tried to pump with the rest of the crypto market yesterday, getting up +7% only to get rejected @ the BF channel that it broke down from on the 18th. Things to note: - 50 turning down (bearish) - Bearish cross of 21 below 100EMA - Bearish cross of 9 below 100EMA - Pumped 7% yesterday only to be rejected @ BF channel If you missed it, go back & see my post on...

Eighty_Street_Capital

Targets remain the same for the QQQ as I am expecting new lows & a tradeable bottom between mid Oct/early Nov. Targets: - Bull target #1 9EMA resistance @ $281.31 - Bull target #2 gap @ $283.50 - Bull target #3 liquidity zone @ $285 - Bear target #1 BF measured move @ $260ish - Bear target #2 Feb 2020 high pre-cov @ $238 Macro bottom targets in earlier posts/Disc.

Eighty_Street_Capital

The SPY/S&P500 has been relatively calm & just moving sideways since the 23rd. There really isn't much to add, as my targets remain the same: - Bounce target #1 Gap @ $374ish + 9EMA Resistance - Bounce target #2 liquidity zone @ $382ish - Bear target #1 @ $350ish - Bear target #2 Measured move of bear flag target @ $345ish - Bear target #3 re-test of Feb 2020...

Eighty_Street_Capital

XRP went on an absolute heater last week from $0.32 to $0.558, so far ending with a rejection just below the 300EMA on the daily TF. Thing to note: - Broke back into BF channel - Bearish cross of 9 below 50EMA just happened this past midnight EST - Finding support @ 100EMA Don't sleep on that bearish cross, the 9 crossing the 50 is usually a very powerful...

Eighty_Street_Capital

The QQQ had a nice bounce this morning, up +1.40% at one point, following a rough couple weeks after breaking below the bear flag channel on Sept 13. Bull targets: - Bull target #1 gap @ $280 - Bull target #2 gap @ $283.50 - Bull target #3 9EMA resistance @ $285 Bear Targets: - Bear target #1 BF measured move @ $260ish - Bear target #2 Feb 2020 high pre-cov @...