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Ghostsquawk

Stocks Ready for a Breakout??The S&P keeps edging up to higher levels. We anticipated the next level at 4214, and that is exactly what transpired. Broadly, we anticipate some ranging between 4068 and 4245 as the S&P considers making a run for new highs, eventually. Watch for resistance at these upper levels including 4214, 4228, and highs at 4245. We will see support from 4188, 4178, 4144, and 4122. The Kovach OBV is strong, but not as strong as it gets when stocks are in ultra bull mode.
FX:SPX500Long
by quantguy
Litecoin Reversal??Litecoin seems to have bottomed out at $117 or so, just under a patch of levels which provided support. It appears the carnage is over at least for now. We have solidly regained footing in the $100 handle currently trading at $160 or so. The cluster of levels which once provided support will now provide resistance, but the Kovach OBV now appears to have turned, which is a good sign for LTC. If momentum continues, we can expect it to regain the $200 handle over the next few days
BITSTAMP:LTCUSDLong
by quantguy
1
Ethereum Finds Support!!Ethereum found support in the upper $1000 handle after dipping as low as $1750. The Kovach OBV seems to have picked up suggesting there is nice momentum to this buy back. We have peaked above the $2232 level and the next target and potential area of resistance is $2400. We still have a long way to go before reaching former highs, but there are several levels above separated by vacuum zones that we are likely to cross as we get more momentum coming through. If not, there are clusters of levels to provide support in the low $1000 handle. In particular, $1700 seems to be a lower bound for now.
BITSTAMP:ETHUSDLong
by quantguy
Bitcoin Bottomed Out??Bitcoin looks like it has formed a double bottom at $30K. It is currently contending with some resistance at $36.4K. The Kovach OBV is bearish but looks like it could be starting to turn. If we can break resistance here in the upper $30k's, we will likely make a run for $40K soon. There is a small vacuum zone after the current patch of levels to $40K. If not, watch for support again at $30K, but after that, we would be heading for the $20K handle which is not a good sign.
BITSTAMP:BTCUSDLong
by quantguy
Breakout in Stocks??Stocks are finding resistance at 4188, exactly as we had mentioned. We appear to be seeing a sideways consolidation pattern as they potentially gear up for a breakout later. Watch the open, if we do not see momentum, the S&P will reject 4188 like it did last week. It will likely test 4068 if that is the case. we could be seeing a bull wedge forming suggesting a breakout might be near. The next target after we break this range would be 4214. Then highs at 4225 are in sight.
FX:SPX500Long
by quantguy
ETH ConsolidatesEthereum has caught support from lower levels and looks to be setting up a nice base. We did see resistance from $2980, so it is not quite ready for the $3K handle yet. We are seeing support from below from $2659, a technical and Fibonacci level. There is a vacuum zone above to $3500, which is also a psychological level. The Kovach OBV has picked up, so hopefully this means ETH is gearing up steam for a breakout attempt. We should see support at $2131 if things go south.
BITSTAMP:ETHUSDLong
by quantguy
Bitcoin Still in the DoldrumsBitcoin has appeared to have found support at $30K and is currently consolidating around $40K. It could be gearing up for another attempt to break out or it could also be forming another bear flag. The Kovach OBV is not very encouraging. It has bottomed out and has since flat lined. We will see support from $36.7 and $37.7, but a strong wave of selling could easily take us back to $30K. If momentum picks up, our next target is $45K. We have a cluster of levels here, so we'd anticipate some ranging after that
BITSTAMP:BTCUSD
by quantguy
Stocks Facing ResistanceStocks have returned to 4178, exactly the level to which we alerted you yesterday. This and 4188 will provide resistance and the S&P is likely to range for a bit in a sideways correction after last month's rally. The range appears to be bounded from above by the levels just mentioned, and from below by 4068. Watch for it to form a consolidation pattern like a bull wedge before attempting another breakout, which would take us back to 4214, or if we are feeling ambitious, to highs at 4245. The Kovach OBV is picking up strength, but we will see at open if this is enough to break current levels. If momentum does not come through at the open, or its paltry, we are highly likely to reject those upper levels and retrace to 4144 at least. This would make a great short trade.
FX:SPX500Short
by quantguy
Litecoin Bottomed Out??Litecoin got hit really hard with the crypto massacre. We got smashed down to about $150 at the lowest, which would have been difficult to fathom just a few days prior when we were hovering near all time highs. Traders did appear to buy the dip and they bought it pretty hard, pushing the price back up to the low $200 handle. We still have quite a way to go before Litecoin can return to its former glory in the $400 handle. We are sitting at resistance at $209 which is a technical level from a low of April If we can break through that, we will have further resistance from a cluster of levels, but the next target would be $264 or so. Litecoin will recover, but we have many obstacles in our way.
BITSTAMP:LTCUSDLong
by quantguy
1
Bitcoin Finding Support??Bitcoin suffered one of the greatest losses since 2017, losing over 40% of its value. At its lowest, it hit $30K, but was swiftly bought back to $40K. While it looks like we have a bull rejection pattern here, we thought we saw those the past few times Bitcoin appeared to have bottomed out only to press further by another $10K. No one knows for certain if it has bottomed out or if another wave of momentum will take us back to the $30K handle or lower. The Kovach OBV is very oversold, so at this point we are due for a rally even if it is just a short covering rally. Our next target, should momentum return, will be $45K.
BITSTAMP:BTCUSDLong
by quantguy
1
Stocks Struggle for SupportStocks found support at 4068. The S&P made an attempt at a breakout but this was quickly thwarted by resistance at 4122. It looks like we finally found some stability around current levels and may be ranging or consolidating as we gear up for another attempt at a breakout. There is still a lot of down side risk, and the Kovach OBV is still pretty bearish. Another tumble could easily take us to 4009, which is the last level of support in the 4000 handle. If we can muster some momentum we will next find resistance at 4178 and 4188.
FX:SPX500Long
by quantguy
Litecoin Gaining Strength??Litecoin has potentially bottomed out, with a double bottom at $264, one of our technical levels. We have nearly perfect agreement between our technical levels and our newly drawn Fibonacci levels which suggests that these will provide strong support or resistance. This selloff seems to be a corrective wave of a 5-3 Elliott Wave. If so, we anticipate a breakout soon. If not, we are likely to retrace the entire rally back to $227 or lower. Two red triangles on the KRI confirm support at $264, however, and we have seemingly solidified the $300 handle for now. Our next major levels and price targets are $340 then $374. The Kovach OBV and Chande are picking up suggesting momentum may be returning.
BITSTAMP:LTCUSDLong
by quantguy
Recovery for ETH??Ethereum retraced quite a bit but has appeared to have bottomed out near $3100, just above the 50% retracement of our Fibonacci levels, at $3240. A technical, psychological and Fibonacci level at $3500 does appear to be providing resistance at the moment, and will take some momentum to break through. If we are able to break this level, $3646 and $3870 are the next targets. This retracement appears to be the corrective segment of a 5-3 Elliott Wave, so we anticipate a breakout soon. Additionally, we appear to have a double bottom at around $3100, with two red triangles on the KRI. The Kovach OBV looks like it is starting to pick up again.
BITSTAMP:ETHUSDLong
by quantguy
Bitcoin Bottomed Out??It appears the bear rout is not over in Bitcoin. We have seen many apparent bottoms only to collapse one level or more. Currently, we appear to be finding support at $41.9K, and seem to have a double bottom there. We will watch as this pattern unfolds as it could be a bear flag in the process of forming. The Kovach OBV is very bearish, but does appear to be turning. We will have resistance from a cluster of levels from $45.3K to $46.2K. After that, our next target is $48.2K, which we once conjectured was a hard lower bound for Bitcoin, at least at the time.
BITSTAMP:BTCUSDLong
by quantguy
Stocks Struggling To Break OutStocks found support at 4144, as we anticipated they would. They are currently testing 4178 and 4188, perhaps in the process of forming a bull wedge pattern before potentially breaking out to higher levels. Momentum at open will be critical to achieve higher levels. The Kovach OBV is still struggling to recover from the massive selloff, suggesting that we aren't seeing enough momentum just yet, at least with respect to that. There is a vacuum zone above our current levels to 4214. If we break out, this will be the next target. If not, there will be support at 4122.
FX:SPX500Long
by quantguy
Ethereum Dumps!!Ethereum has sold off with the rest of the crypto market, following Bitcoin's lead. We have found support at $3186, a Fibonacci level from prior. After this, ETH was swiftly bought back up to support at $3470. We will have further resistance from $3646 and it will take some momentum to push through this level. We have a bit to go before considering all time highs again, but momentum should pick up soon. We anticipate the market to feel out current levels before building up momentum for another breakout.
BITSTAMP:ETHUSDLong
by quantguy
Stocks Pare Back LossesStocks have recovered much of their losses from the selloff last week. We found support at 4040, over 200 points below highs. The S&P has retraced back to what appears to be a POC at 4188. We appear to be ranging just under this, and will find support from 4144. The Kovach OBV is gradually drifting up but the momentum here is paltry with respect to the selloff. It will take a great deal of momentum to bring us back to highs at 4245. A further selloff could take us back to lows at 4144.
FX:SPX500Long
by quantguy