quantguy

quantguy

The S&P 500 has retraced slightly from highs at 4144, testing support at 4068, as we anticipated yesterday. We are seeing good support from 4068. We appear to be forming a sideways corrective pattern, a technical corrective phase after a rally from the 3K's brought us back to highs not seen since June. It is likely we will hold this range until stocks can...

quantguy

Litecoin retraced sharply after establishing the mid $60's during the brief rally crypto saw after the FOMC. We are finding support in the $50's just above our level at $55.84. If we can pivot off this level, we may retrace through the vacuum zone to $61.75 again. If support does not hold there is another vacuum zone below to $51.92. We should see very strong...

quantguy

Ethereum retraced hard from highs around $1748. We were about to clear a dense cluster of levels ending at $1748, but a rejection took us back through the vacuum zone to support at $1547. We are finding support just above this level at $1564 at the time of this writing. If support holds, we could pivot and make a run for that cluster of levels again, starting...

quantguy

Bitcoin has retraced further from $23.9K. The momentum we saw after the FOMC from last week has faded for now. We are just above our level at $22.4K. If we can pivot, we should see one soon, with $22.4K to provide support. If so, we could make another run for $23.9K. If not, we could collapse through the vacuum zone back to $20.7K. If that level does not...

quantguy

The DXY continues to edge down. We broke through to 105.25, before a pivot took us back up to the 105.50's. The next level and target is 105.78, if momentum can sustain. We are seeing a red triangle on the KRI confirming the resistance. It is clear that the dollar is still in a corrective phase, unwinding the strength we saw at the beginning of July, which...

quantguy

Stocks have hit our target of 4144, but ran into resistance here. The price action swiftly rounded off, forming a top at this level. We have since retraced back into the vacuum zone between 4122 and 4168. We should have further support at 4068, but if we retrace further then there is a vacuum zone below to 4009. The Kovach OBV has ticked downward with the...

quantguy

Litecoin has broken out to higher levels in the $60's. We hit $64.37 exactly, but then promptly retraced back to lower levels. We broke through support at $61.75, but are currently finding support at $60 or so. If we are not able to hold $60, then there is a vacuum zone back to $55.84. Pay attention to stocks and Bitcoin, as these assets will provide a glimpse...

quantguy

Ethereum is ranging between $1653 and $1748. We have a dense cluster of levels in between these two boundaries, and the price action appears to be caught in between them. We do appear to be seeing a flag consolidation pattern, so we will see if the market can sustain another breakout. If we are able to break past $1748, then we should be clear to hit $1821,...

quantguy

Bitcoin has broken out past $23.9K, then immediately retraced back to comfort between $22.4K and $23.9K. We appear to be seeing a head and shoulders type pattern and if so, this will signify some resistance and perhaps a further retracement. If that is the case, expect support at $22.4K, then there is a vacuum zone down to $20.7K. The Kovach OBV has established...

quantguy

Oil made an attempt at higher levels, hitting both of our targets at $100 then $101 before retracing back to the $90's. The Kovach OBV is gradually trending upward, so we are seeing a bull bias. But the $100's seem to be a hard upper bound for now. Currently, we are seeing good support around $95.24, a familiar level. We may also be seeing a bull wedge...

quantguy

Stocks have broken out and hit our next level of 4122. We are meeting steep resistance here confirmed by red triangles on the KRI. The Kovach OBV has lifted, and its clear that momentum has returned at least for now. It is likely that the markets think that the Fed may adopt an easier policy now that we are formally in a recession. If momentum continues, 4144...

quantguy

Litecoin broke out to hit our target of $64.37. Subsequently, we retraced, breaking through $61.75, but finding support at the psychological $60 level. We seem to be hanging onto the $60's for now, but if we retrace further, then we will see some support at $55.84. If we are able to break through $64.37, then $66.94 is the next target.

quantguy

Ethereum rallied, breaking through relative highs in the $1600's, but running into the resistance we mentioned yesterday. We are currently caught in a thicket of technical levels, which we identified yesterday, which appear to be prohibiting us from reaching our next target at $1821. The levels span from $1653 to $1748. We appear to be ranging in this value...

quantguy

Bitcoin broke out and is hovering just under relative highs. We caught a nice pivot from $20.7K, but resistance from $23.9K is proving prohibitive at the moment. The Kovach OBV has picked up, but we must first break this barrier at $24K. It appears that some life has returned to the markets, as the GDP numbers yesterday indicated, by definition, that we are in...

quantguy

The DXY has retraced a bit but found support at 105.78. The retracement follows as the dollar strength is unwinding due to investors gradually flowing back into other assets, as they seem to be anticipatign a more dovish Fed after GDP numbers yesterday formally confirmed that we are in a recession, by definition. We got a nice pivot from 105.78, which took us...

quantguy

Oil has picked up again, breaking through $100, but finding resistance at $101. This is exactly what we anticipated, it just took a few days for oil to break through the resistance in the mid $90's. Our next target is $106, but it will take some momentum to get there. It is likely that we will hover in the low $100's to establish value. If we retrace, we will...

quantguy

Stocks have broken out as we identified yesterday. The fact that stocks and bonds have both caught a bid gives us insight as to how the markets are interpreting the FOMC rate hike and the GDP numbers yesterday. As we all know, GDP numbers came in negative, the second negative reading, which puts us formally in a recession by definition. Furthermore, the Fed...

quantguy

Gold has continued to rally, breaking through to the upper 1700's, and reaching our target of 1780. This is the 50% Fibonacci retracement level, which was our target from yesterday's report. A lot of buying momentum has come through for gold, which just a few days ago tested the low 1700's, with a relative low of 1684. As anticipated we are running into...