$RTY1! lost 50 EMA support and racing to 100 EMA quickly on weekly, looks even uglier on daily as the pullback looks to be gaining momentum. Next level of interest would be another -20% decline. Last time this severe of a retreat was realized was March to May of 2020. The recovery was rapid given unprecedented amount of federal stimulus to prop the economy...
BTC has reached a key culmination point, breaking out of descending triangle. Currently testing 50 EMA on daily If support fails and BTC slides back into bearish continuation, look for PT's of #38k in the next week or so followed by $35k as critical zone of support.
Broader markets have responded to the continuation of loose monetary policy, while the Fed will be faced with spiking prices as CPI & PPI results post within 24 hours each the next two months and the FOMC has to decide whether the current approach remains viable as midterm elections approach. BTC will likely reverse bearish trend for next month or two as it...
Zcash has realized a bullish reversal this week as the markets absorbed inflation reporting, the EU parliament excluded language restricting Proof-of-Work from MiCA, and the Federal Reserve clearly conveyed no substantive change to monetary policy in the immediate future. Bullish price action likely to continue if ZEC confirms a breakout from the descending...
Traditional markets responded with rallies following the Federal Reserve's tame communication following the FOMC meeting this week. The 25 bps hike is nothing more than a symbolic statement, with the midterm elections looming and the Fed finally acknowledging that inflation is more persistent than what they had hoped. The lack of serious action is likely to...
"Laugh Out Loud" Market action clearly indicates no concern in near-term about the Federal Reserve taking significant action to reign inflation or cool the economy down. Dovish environment means more of the same rip-roaring good times.
Wall Street over the past few weeks appeared to be preparing for a more hawkish Federal Reserve approach to tamp down on sharply rising prices. The FOMC did raise rates by 25 bps, and the markets promptly responded by going higher. The markets' responses indicate the Fed completely lacks credibility in doing anything to get prices under control... instead the...
ZEC will need to close daily above descending trendline and see more bullish support or risk retracing into the right shoulder of a very clean head & shoulders pattern on daily charts. ZEC is volatile and sideways chop at current price is unlikely to continue... in the coming day or 2, it will either break up and reverse the long-term bearish trend, or fall back...
$QQQ is heavily weighted towards risk-on technologies. Inflation is soaring, dovish Fed with loose monetary policies is not sustainable in the face of CPI/PPI/Commodities/etcetera reflecting an unhealthy market with price increases not seen in 40 years. Previous significant correction benchmarks: 1. 2020 global pandemic from local high to bottom took 30 days...
Following the dot.com bubble, QQQ retraced ~85%. In 2022, we've seen ~18% downslide from ATH in Nov 21. Continuation of correction to long-term mid-channel would be approx 30%, resulting in a PT arround $290 to $295. Tightening monetary policy with higher bond yields have potential to drive further institutional risk-off portfolio balancing and drive the price...
$GRT is a great project with incredible value for blockchains. Unfortunately, GRT has not been able to detach from Bitcoin's movements yet as it remains relatively new to the market. Currently, GRT is being rejected off the 50 EMA on the daily. Having realized an 85% retracement from ATH of $3 and seeing this historical retracement continue across...
DJI with the clear breakouts from long-term channels (blue & dark pink). Interestingly "smart money" appears to have been incredibly prescient in timing a perfect sell-off before the p-demic lock-down and March 2020 crash. Most likely correction will be approx 40% from ATH to about 21.7k. Minimal market correction of 20% to 29.5k has low probability of being...
Pick your correction level. Inflation running hot, price increases sharply increased. 6.1% in January 2022 over January 2021. Consumer spending up 2.1% January 22 over December 21... of course consumer spending is increasing, look at what is being purchased. Housing sales down another month, at least 3 in a row as real estate has increased at alarming rates....
SPX has seen 6 instances since 2003 where the 100 EMA has crossed below the 200 EMA. With the majority of these identifying an optimal buy/entry point, with the strategy to look consider the depth of retracement and to scale into positions for optimal ROI once the market recovers. The only major time where this was not close to the lowest retracement point was...
Today's Presidential Executive Order did not mention Bitcoin by name once. Instead it focused on "digital asset technologies" and CBDC's. The White House Talking Points also failed to reference cryptocurrency as as the focus of the order, instead including crypto in the discussion as being outside of regulatory framework and as part of illicit activities. Bitcoin...
Charting from Daily to 3-Day charts reflect head & shoulders pattern forming with the left shoulder and head formed. Given price action trends with wild swings up and down, Zcash will either retrace fully to sub $90 or probable right should forms before final retracement. Once retrace by >70%, historical $ZEC price realizes bullish reversals. Continuing to see...
ZCash large triangle May 2021 local high with breakout in August to reach lower high in Nov forming a smaller triangle. Higher time frame shows massive double top with lower high in Nov 2021 than May 2021. 6 hour chart shows price action forming a head & shoulders pattern with Price target sub $90 before potentially recovering above $130.
Luna formed a H&S from Jan 13-20, 2022 with a major retracement. Currently, a larger head and shoulders pattern is forming with the left should and head fully developed.