Thursday, February 25, 2021
Wednesday, February 24, 2021
The US Dollar (DX) is hovering precariously just above a major inflection point at 90.00, as shown on the following monthly chart.
A drop and hold below that level could see the DX plunge to around 85.00, or even 80.00, in short order.
However, should the Financials ETF (XLF) drop, as described in my most recent post, we may see DX reverse course and rally towards 95.00, or even 100.00...keep an eye on the XLF for clues.
The rise of the Financials ETF (XLF) from March 2020 seems rather parabolic when compared with prior rallies over the past two decades, as shown on the following monthly chart.
A pullback may be just around the corner.
A drop and hold below major support at 30.00 could see this sector plummet to around 25.00, or, even 20.00, in short order.
Keep an eye on my post on the US Dollar as a cross-reference for clues.
Tuesday, February 23, 2021
The following pivot point calculations and chart are provided to illustrate a variety of support and resistance levels/price targets on the monthly timeframe for the S&P 500 Index (SPX).
The calculations below are based on the high/low/close of January's candle for February's levels/price targets.
Saturday, January 23, 2021
Thursday, January 21, 2021
* See UPDATES below...
This post has it all...thrills, spills and political theatre...
- Former President Donald Trump leaves office after failing to be re-elected for a second term
- 2020 election "fortification" versus election "rigging"
- House Impeachment #2 and Senate Acquittal #2 of Mr. Trump
- Capitol riot of January 6
- Capitol security review
- Future Republican leadership questions
- America's future under the Biden administration
Sunday, January 03, 2021
Perhaps the most valuable commodity this year will be Vitamin D, thanks to Bill Gates' proposal to "dim the sun" and his support for large-scale, endless lockdowns. 😏
The S&P 500 Index (SPX) gained a total of 1,568.34 points from the low to the high of 2020, and the Balance of Power (BOP) is still firmly in the hands of Buyers, as shown on the following monthly chart.
However, the BOP for December is a fraction below November's, so the buying was slightly more subdued last month and may portend a slower pace in the coming months.
The next major resistance is represented by the 1.382% External Fibonacci level at 3850.57. Major support lies below at the "Big Round Number" of 3600.
Barring another retest of 3600, as we saw during three weeks of November, I'd expect the buying to continue up to 3850.57, or higher, in the coming weeks/months.
However, stocks may be getting overvalued, as shown on the following ZeroHedge chart. Perhaps 2021 may usher in more stock splits...or a 10-20% correction.
We'll see what happens...but, keep an eye on the rate of buying/selling, as represented by the BOP indicator.
Friday, January 01, 2021
Tuesday, December 29, 2020
Sunday, December 27, 2020
Friday, December 25, 2020
Thursday, December 24, 2020
Monday, December 21, 2020
It seems Bitcoin (BTC/USD) is fond of parabolic spikes...spike #2 is well underway from the March low, as price is approaching the first external Fibonacci level (1.382%) at 26259.60 (upside target and first major resistance level), as shown on the following monthly chart.
The Balance of Power still rests with buyers, but December's level is currently below that of November's, in spite of a 4,413 higher price.
Keep an eye on the BOP level at the December close. If it remains below that of November's close, we could see a retracement early in 2021...potentially down to around 20,000, or lower, particularly if price hits 1.382% by year end.
Watch the Lowell Observatory (Flagstaff, Arizona) live streaming celestial event of the conjunction of Jupiter and Saturn at 5:00 pm MST on December 21 (which happens to coincide with the 2020 winter solstice). These two planets will appear closer than they ever have been since March 4, 1226, according to Rice University.