Red_Ben

Red_Ben Updated 

Pictured is the Daily chart of SPX500USD, the S&P 500 Index. Note we continue to make new all-time highs every week and remain near the mean-line (red) and price has been contained inside the 1 SD channel since the start of the summer. From a "Big Picture" view, the bullish trend remains intact...but there is reason for concern here. While price continues to...

Red_Ben Updated 

Watching BTC closely here, as aggressive sellers looking to sell at a "premium" were temporarily trapped, then re-gained control. A similar pattern in reverse occurred at support...let's see if sellers can flip the script and follow through aggressively if they are let out of the trap. Trade idea is invalidated if stop is traded through and only triggers if...

Red_Ben Updated 

Tuesday's close looked brutal, and everyone is expecting a test of last week's lows coming next. I'm thinking this is setting up for a +EV long. The market has been extremely fibbo-responsive lately. Setups based on volume profile and fib retracements/extensions alone have been working wonderfully. I'm watching the high-volume edge and 50% retrace just below...

Red_Ben

See annotated chart. There's a decent chance we bounce once more above SPY 415. If the red pivot zone becomes resistance, I will quickly switch to bearish and short. I'm long with calls as of Monday's close. Not interested in holding under 414. Wouldn't buy if we tap ATH and roll-over...but if we do squeeze again, it's gonna be a doozy!

Red_Ben Updated 

This is the monthly chart of the yield on the 10Y note. VIX Fix shows we put in excess below support (6.00) indicating most bulls have capitulated. Breaking above June yield highs on a strong move out of bonds (perhaps into value stocks?) could bring on a yield of 2.5-3% on the 10 year, a 150-200% move higher. This kind of a spike in yields would eventually...

Red_Ben Updated 

A relatively simple mean-reversion setup developed on QQQ today. We had a gap-and-go break last week's high on decreasing volume, creating bearish divergence on the cumulative volume percentage indicator. Maxx Momentum failing the 6 ema test on a parabolic-up (unsustainable move) triggers the entry. There may still be a day or two worth of shorts to squeeze out...

Red_Ben Updated 

Silver (often traded through SLV/PSLV ETF's) has had a busy week! After getting pumped to 10-month highs on Monday, we saw sellers attack price relentlessly for 2 days. Today, however, was different. Back at old-resistance/(new support?) from 2020 at $24.50-$25 on SLV, we are seeing a basing pattern with hidden bullish divergence on the cumulative volume...

Red_Ben

BTC appears to be preparing to close the week above the ichi cloud. It is also overcoming the consolidation period we've been stuck in for a few weeks. The recent tests and rejections of 10k sent a lot of bulls into bear-mode (or into cash). We can see by the Twiggs Money Flow below the chart that bulls remain in control, however, with TMF resting on the...

Red_Ben

Daily chart remains bullish, but we have broken down from a low-volume rising wedge and consolidated sideways for a few weeks now...2950-3000 has seen heavy selling on every test. Each time we get rejected there, we return to support around 2775-2815. We should expect some buyers around the top of the ichimoku cloud on the daily, but if we fall inside of the...

Red_Ben

The Nasdaq 100 had one of its worst 4 week stretches in history from late Feb - mid March 2020. We nearly tagged the weekly 200 ma, which on my chart are the circles. Note they recently turned red from green, warning of descending confidence from longer term investors. Also note the last time we had a string of red circles was the December 2018 bottom. Back...

Red_Ben Updated 

The bull run on Nasdaq continues to break records. Many don't recognize that runs that move parabolic like this are more likely to continue than reverse....but they do eventually reverse. And when that occurs, it's rarely gentle. Taking profits in a market like this is difficult. These are the zones I'm watching to act as inflection points, just in case this...

Red_Ben

Bitcoin has given bulls another chance to enter on a daily 200 ma test. These tests should be bought until proven wrong. If we do dip before halving, I'll buy 1 more time at previous support. I doubt 8,200 gets sold through, but if it does, I'm satisfying buying that to. I'm looking at 11,200 as a target; maybe higher. Anything under 10k is a "good" entry,...

Red_Ben

It's time for the big short on TSLA. 1000 resistance is holding and we have yet to test the log-chart bullish trendline since going parabolic. There's good reason to think it fails when we do, but even if we get a bounce, bearish divergence is suggesting momentum is running out. I like a short here, targeting 600 with late March or early April dated puts. ...

Red_Ben

Take a look at the nasdaq 100 daily chart. We've made another ATH and the bullish trend remains intact. However, there are technical signs of weakness/fatigue, and last time we saw this in 2018, we got more than a 10% correction. The daily RSI and the ADX-DI are making lower highs as price makes higher highs. In the past, this type of divergence on multiple...

Red_Ben Updated 

Bitcoin is a SCREAMING buy here. Technically, it's a beautiful dip to buy. 10.4k is first target. 12,000 is next. Can put a stop under 7.5k and re-evaluate, but I HIGHLY doubt that it will even come close. We may return to the daily 100sma around 8k...we may not. The recent breakout was impulsive....this is the perfect BTD opportunity. 9.5k will break like a...

Red_Ben

NFLX NASDAQ:NFLX tends to demonstrate very volatile trading following quarterly earnings release. Tonight should be no different. on the daily chart, we can see NFLX has made a lower high since the All-Time-High in 2018, however the strong bullish trend of the weekly/monthly charts has provided sufficient momentum with dip buyers showing up after most...

Red_Ben Updated 

Gold is in an absolutely beautiful formation. We are at the apex of a falling wedge on the medium time frames and in the beginning of a bull market on the longer time frames. Gold will go to 18000 an ounce in 6 months if this bull trend continues in a parallel channel....it could go higher than that if it breaks out exponentially. What's so wonderful about the...

Red_Ben

Bitcoin has been in a retracement pattern, resting from the bull run last summer. That retracement appears to be over. Bears are covering. The name of the game now is find a lower-time frame BEARISH/sell setup and BUY IT. The stuck bears will cause Bitcoin to once again seem to rise for "no reason." Every time it looks like Bitcoin is about to roll over, it...