Sublime_Trading

Sublime_Trading

The market appears to be recovering from the annual September pullbacks, as we can see with the S&P 500. Following the recent declines, price found support at $4305 on September 20th and then it looked as though the pullback was over. But after failing at the resistance zone consisting of the 20 & 50 simple moving averages, price declined again, but this time...

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The S&P 500 remains in an area of consolidation for now, following the decline we experienced in September. A high of $4545 was formed on September 2nd, then a pullback came into play which we anticipated as September is usually the weakest month of the year. The pullback was deep but did not touch a previous level of support or resistance. Price has since tried...

Sublime_Trading

The S&P 500 is still in a pullback phase, seeing a decline of 4.5% so far since September. The move is almost equal in size to the decline we witnessed in September 2020. What we need to do when price pulls back is identify levels that price may gravitate towards so that we are prepared in advance to manage our positions and give us the advantage of getting ready...

Sublime_Trading

Apple is experiencing a weak September, but a quick inspection on the monthly timeframe shows price is now finding support at a resistance level turned support. This level is based on the January 2021 high at $145. Price initially broke above this level in July 2021 and started pulling back this month. Last week price opened below this level but closed above it,...

Sublime_Trading

Bitcoin is currently going through a stagnant phase as it is moving sideways and not moving much in either direction. December 2020 to April 2021 was a good run for Bitcoin as it experienced a move from $19,700 to over $64,800. The decline that followed brought price to the 50 simple moving average. The first contact was made in June then again in July. The...

Sublime_Trading

Following the peak of the Covid pandemic in March 2020 when price declined by 48%, price turned around and gradually moved back to the upside, eventually breaching the all-time high 11 months later. In May 2021, price created a new all-time high at $3,017 before heading back down towards the weekly 50 simple moving average. The 50 simple moving average was an...

Sublime_Trading

September is usually the weakest month of the year in the stock market, so we were ready and waiting for a pullback to appear. From September 2nd, we started to see a slow down in momentum as an indecision candle formed and from there price started to decline. The 20 and 50 simple moving averages are our expected levels of support, and as we can see, price is...

Sublime_Trading

Blink and you can end up missing some big moves in Bitcoin which is taking on a life of its own. This instrument was showing signs of weakness in May this year where it fell to below $30,000 and hit the weekly 50 simple moving average. In July, the buyers came back into the market and have pushed price up 79% to where it currently stands at over...

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The S&P 500 continues to climb up the slope formed from the 20 and 50 simple moving averages. In the last post, price had broken above a previous high at $4480, and has now moved up another 1.5%. The trend in this Index is strong, and we can see a nice pattern of higher highs and higher lows forming here. It was only back in April when price was approaching the...

Sublime_Trading

If we take our minds back to May this year, we will recall the fall that Bitcoin and most of the cryptocurrency market endured. There was a lot of panic selling and buyers were scrambling to get into Bitcoin at a cheaper price as it had fallen from over $64,000 to just under $29,000. Price hovered around $29,000 from May to July until the buyers could build...

Sublime_Trading

Netflix is chilling at the moment and has been moving sideways now for a year now. We saw some fast growth in their share value following the peak of the pandemic, but the buyers have not been able to keep up the momentum. Consolidation periods usually follow strong trends but if the overall strength of the stock is still there, then price should be able to...

Sublime_Trading

Microsoft has progressed nicely since the last post a week ago, moving up 1739 points at the time of posting and still moving strong. Price has not made contact with the weekly 50 simple moving average since March 2020, but it has been using the daily 20 & 50 simple moving averages as support. We have been seeing deep pullbacks since 2020, but from June 2021 the...

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The July 14th high continues to act as support following the breakout that occurred on July 23rd. This was a strong breakout but it was not followed by a strong continuation to the upside. On August 3rd, the low of the wick came close to tagging the 20 simple moving average by 2 points. Despite the 20 simple moving average also holding price up, it appears there...

Sublime_Trading

Bitcoin formed a high at $42,000 on January 8th 2021, which was then followed by a pullback. Price then broke above that high to create a new all-time high at $64,894 on April 14th 2021. The buyers soon gave control back to the sellers, and in May 2021, price came down to $42,000 and used this level as support for a couple of days. It did appear that this level...

Sublime_Trading

The S&P 500 continues to use the 20 and 50 simple moving averages as support along the trend that is currently in play. On July 19th 2021, price pulled back to the 50 simple moving average yet again which coincided with a previous resistance turned support level at $4257. A nice clean bounce from this level took price above the previous all-time high at $4393...

Sublime_Trading

While Jeff Bezos is flying rockets to space his company appears to be setting itself up for its own take-off. If we look back at this stock, we can see that price was in consolidation from September 2020 following a 116% bullish run from March 2020. Such a strong move was likely to cause long-term sideways movement as the market would have become exhausted from...

Sublime_Trading

Price at the start of the week didn’t get off to the best start as Monday opened up with a gap-down candle. Not only did price gap down, but it also closed with a large bearish candle. On a lower timeframe such as the 5-minute chart, the drop would have looked a lot more frightening than it actually was. If you have been following our posts for a while, you...

Sublime_Trading

Since our last post on June 22nd, price has progressed really well. Back then, the all-time high at $4275 was yet to be broken. It did go on to break this level and right now price is up 2.57%. Price was also rangebound back then, hovering between a high of $4257 and a low of $4056. Since breaking out, price has formed a nice neat linear move up, creating new...