Sunday, November 29, 2020

Week Ending 11/27/20: Dow new highs. Gold down. Lumber trying to turn back up.




The S&P has formed several shorter term patterns higher, inside larger vW higher.
Break above 3668 will null vM to 3331



The Russell has several shorter term vW's to new highs,
inside much larger vWs higher.
vM to 1576 is nulled.



Dow hit vW price target at 30105 
Note: vM to 27546 should have been nulled and shaded gray. 



Bonds hit vM 211'08 and has so far bounced.
It's battling the moving averages and pattern 
necklines in both directions.



Gold took a beating this week.  
vM to 1588 is triggered.



Oil hit vW to 44.90
vW to 47.68 still triggered.
vM to 27.13 is nulled.



Dollar has triggered vM to 89.210
vW to 95.715 has been nulled.



BTCUSD


XLF hiy short term vW 28.56 and longer term vW 28.47
Has several gaps at 27.69, 27.28, and 25.28



Wells Fargo has a few gap ups as well.  
It also nulled shorter term vM to 20.68



Lumber is forming and triggereing patterns to the upside.
Has also un-triggered vM to 124












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Sunday, November 22, 2020

Week Ending 11/20/20: Bonds look Bullish. Bitcoin to 27K???

Indices were down for the week except the Russell.  Oil moving up.  Bonds has bullish ma's.  Bitcoin to 27K?



The S&P fell for the week and is below its 10 day ma.  
Has shorter term patterns both directions, 
with longer term time frame patterns still triggered.
Click for Update



The Russell closed up for the week, and id still above its 10 day ma.  
It usually leads the way so watch for strength or weakness. 
Click for Update



Bonds hit vM 211'08 and has so far bounced.
It also has retaken its 10, 50, and 200ma's,
right as the 50 and 200 is about to make a bearish cross
Still battling with pattern necklines in both directions.
Click for Update



Gold has triggered vM to 1588



Oil has triggered vW's to 44.90 and 47.68



Dollar looking like it wants the 91 area.



XLF jumped early in the week, but closed near the lows.
If falls below 27, expecting it to fill the gap at 25.28



Bitcoin 27K?





















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Sunday, November 15, 2020

Week ending 11/13/20: Indices and banks gapped up Monday except the Nasdaq. Sector Rotation??? Oil back above $40

Stock Indices jumped Monday with the Russell tripping the 7% circuit breaker, except the Nasdaq and many tech stocks under-performed as well.  May be seeing sector rotation.  Banks gapped up as well and have so far held it.  Bonds hit a small vM lower and have so far bounced.  Oil is back above $40



The S&P jumped on Monday nulling short and mid-term vM's lower.  
Short term vW's have formed and triggered to new highs.



The Russell launched up 7% causing it to halt first thing Monday morning,
nulling longer term vM's lower.
Click for Update



 The Nasdaq didn't fare as well as other indices.
It jumped early on Monday but, gave it all back 
and under-performed the next few days.  Still has a large vM to  9432.75...new highs will null.



The Dow made new highs at 30,000 nulling vM's lower.



Bonds hit vM 211'08 and has so far bounced.
Still battling with pattern necklines in both directions.



Gold fell Monday an, otherwise d nulled vW owards the highs.
Gold needs to hold is likely.



Oil has hit vM to 33.94 and bounced back above $40.
Has shorter term patterns both directions.



The Dollar is in between to short term patterns. 
See if can gain above the 94.75 area and null vM's lower, 
or falls below 92.



Banks gapped up on Wednesday, nulling several short term vM's lower.
See if continues towards vW 28.56 which is triggered, or fills gap first at 25.28



Wells Fargo gapped up aas well, but hasn't nulled vM's lower yet.












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The S&P had a good week.  Has a short term vW to new highs 
trying to trigger that will null vM's lower.



The Russell looks similar to the S&P but it's short term vW to new highs is triggered.
Click for Update



Bonds still have large patterns both ways.



Gold hit vM 1854.2 and is so far bouncing off that level.
It did hit a vW at 1957.5 on Friday, so may see some resistance here.
Click for Update



Oil has triggered vM to 33.94 and 27.13
Click for Update



The Dollar is in between to short term patterns. 
See if can gain above the 94.75 area and null vM's lower, 
or falls below 92.



Lumber had a good week,but still in a huge pattern to the downside.
Formed a small vW to 644.5 that will untrigger the vM lower.



Copper looking bullish and closing above recent target price 3.1175
Click for Update



https://www.tradingview.com/chart/XLF/s9uPf7EW-XLF/



Wells Fargo is still at the Corona Virus lows. 
vM's to 19.72 and 12.59 are triggered, and technically 
has formed and triggered a vM into negative territory. 
Click for Update


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Sunday, November 1, 2020

Week Ending 10/30/20 - 2020 Election. Wells Fargo below Corona lows. Lumber still in downtrend

Markets have been volatile prior to the election.  Wells Fargo is below the Corona Virus lows.  Lumber also looks to have further downside.



The S&P needs to hold this area it closed at Friday
to avoid triggering vM to 2855 and untrigger vM's to 3161.25 and 3060.5



The Russell is forming vM's lower and vM to 1433.5 is triggered.
Still has much longer term vW's triggered, 
but could see substantially lower if recent price doesn't hold.



Bonds still have large patterns both ways.



Gold has been trading down and hit vM 1854.2
Has small vM to 1711.1 that has formed.
Still has a much larger time frame vW's higher.



Oil has triggered vM to 33.94 and 27.13



The Dollar is in between to short term patterns. 
See if can gain above the 94.75 area and null vM's lower, 
or falls below 92.



Lumber still getting hammered.  Hope it doesn't happen because probably means some other bad stuff will/is happening,
but vM to 124 is triggered, and pattern wise it looks pretty solid.



Banks have several patterns triggered both ways.
Click for Update



Wells Fargo has fallen below the Corona Virus lows. 
vM's to 19.72 and 12.59 are triggered, and technically 
has formed and triggered a vM into negative territory. 








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