PrepForProfit

PrepForProfit Apr 7

I'd be surprised if that was the bottom in equities. 10yr/2yr is still coming out of inversion which historically is followed by a recession and a decline in equities, and we have unemployment remaining stubbornly low with only one direction to go from current levels. Market selloffs usually mean investors lose money while main street loses jobs so we should...

PrepForProfit Feb 5

MP Materials is benefitting from being the only integrated rare earth mining and processing site in North America. Trade wars heating up with China are a booster for this company which was already benefitting from having a new administration that wants to bring manufacturing back to the US and start sourcing rare earth elements locally. MP has broken out of a...

PrepForProfit Oct 18, 2024

Bitcoin price is attempting to break out of a declining broadening wedge pattern while also testing horizontal resistance at $70k. Bitcoin first reached $70k in 2021, failed to move higher, and made a low near $15k in 2022 before rallying back up to $70k again earlier this year. Since then, price has mostly trended between $55-70k while forming a declining...

PrepForProfit Aug 10, 2024

The 20-year Treasury Bond ETF 'TLT' is looking good now that the Federal Reserve has stated that an interest rate cut could come as early as September if inflation continues to fall. The fact that Fed chairman Jerome Powell is now using dovish language and naming dates for potential cuts is cause enough to consider shifting some money to bonds. The swift selloff...

PrepForProfit Jul 28, 2024

Bitcoin weekly chart vs gold monthly chart, cup and handle edition. Gold broke out of it's handle this year, waiting to see if Bitcoin does the same as the fundamentals continue to strengthen. As of the Bitcoin Conference this past week we now have legislation announced that would create a strategic Bitcoin reserve here in the US, and Trump and Kennedy vowing...

PrepForProfit Apr 11, 2024

The S&P500 opened and closed below the lower support line of an uptrend channel. This in itself is excuse to sell or go short, but generally you want to see 2-3 days of price below or above a channel before considering it a trend shift. Most likely first level of price support to watch for if price does head lower is $500. Nice round number and a psychological...

PrepForProfit Feb 15, 2024

Japan is the first victim of this latest round of expansion and contraction of interest rates by global central banks as they fall into recession. www.msn.com Recent history shows that when global central banks raise interest rates, the peak in rates mark the end of the credit expansion cycle resulting in recessions and stock market declines. The last three...

PrepForProfit Aug 17, 2023

Bitcoin took a nice dump just after the stock market closed today, currently down -8%($2200) and was down -12%($3300) at one point from the daily opening price at $28.7k. Broke below trendline support, but held above horizontal support on the dip, bottom TDI indicator is showing price in oversold territory meaning we could see a bounce as traders buy the oversold...

PrepForProfit Aug 16, 2023

Along with all of the major stock indices falling below their 50-day moving averages this week, Bitcoin is also below its 50ma and testing the 100ma for support. Failure to hold above the 100ma near $28.7k will likely lead to a test of the orange trendline near $28k. If that also fails to hold as support then we can consider the uptrend in price over and a...

PrepForProfit Aug 9, 2023

United States Natural Gas Fund(UNG) is testing the neckline of a complex inverted head and shoulders pattern with an open and close above the neckline on a gap up in price today. Based on the orange line measurement taken from the lowest point of the head to the neckline we get $1.89 which can be applied to the opening price today above the neckline and gives...

PrepForProfit Aug 9, 2023

NatGas is up +7% this morning as price has breached local resistance near $2.90 and testing long-term resistance near $3. Should price beat the $3 level the next move will likely be up toward the 200-day moving average which rests near $3.40. The PPO is reading short-term bullish momentum with the green PPO line crossing up through the purple signal line after...

PrepForProfit Aug 8, 2023

Coinbase put in a hammer candle yesterday after a bounce off of the lower Bollinger Band which can be read as a potential bullish signal seeing as how price is seeing a further advance today on a strengthening Bitcoin price. The PPO indicator is still reading short-term bearish momentum with the green PPO line declining below the purple signal line. Both lines...

PrepForProfit Aug 8, 2023

After a spike to test $32k in late June and early July, bitcoin declined in mid-to-late July and tested the $28k level which held as price support. Today price is on the rise and testing $30k with a move back into the upper half of the Bollinger Bands where price hasn't been since mid-July. A bullish move here would be a push through $30k for an potential...

PrepForProfit Aug 4, 2023

Blend Labs is looking for a close above the 200ma which was hard resistance in July. Price is currently at $1.42 with overhead resistance at $1.55 stemming from the spike in early July. Currently the MAs are showing a short-term bullish trend after crossing bullish in July. Need to see a breakout above $1.55 for price to be considered in a breakout above the...

PrepForProfit Aug 4, 2023

Antero Midstream is working on its 4th weekly close above the upper line of a rectangle pattern. Price is trading above all of its MAs with all MAs in bullish order indicating a bullish trend for price. The PPO indicator shows the green PPO line rising above the purple signal line which indicates bullish momentum in the short-term. Both lines trending above the...

PrepForProfit Aug 4, 2023

Crude oil is pushing higher this week after breaking above trendline resistance last week, and after holding above the 200-week price average this summer. Price is now trending above all MA's on a weekly basis other than the 100ma which rests near $85 and is the short-term resistance level to watch on this push higher. The PPO indicator shows the green PPO line...

PrepForProfit Aug 1, 2023

Bitcoin is back below FWB:29K this morning after a flag breakdown and failed attempt to hold above $30k in July. Price is now trending below the short MAs(8,21,34) with the short MAs crossing bearish in late July. Price is testing the 100ma which rests near $25.5k, a failure to hold there will likely lead to a test of the rising trendline and 200ma in the ...

PrepForProfit Updated  Jul 31, 2023

JD.com has created an inverted H&S pattern over the summer and is attempting to break above the neckline. This isn't a textbook H&S since the neckline hasn't been a hard resistance level for price when looking at the violation above the neckline at the right shoulder, but that appears to have been an outlier with a gap up and almost immediate gap back down below...