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Ghostsquawk

Stocks Continue to Rally!!Stocks have continued their ascent, and our analysis remains the same. The general trend is clearly bullish but we are due for a technical retracement, or at least a sideways correction. It would be unwise to short at this point, as you do not want to get in the way of this. We are about half way between the nearest level of support at 4073 and our target of 4144, where we will definitely see some resistance. Use caution because as the S&P has rallied, it has created vacuum zones below and a significant pullback could take us back to 4009.
FX:SPX500Long
by quantguy
Head and Shoulders in Litecoin??After retracing significantly, Litecoin appears to be forming a head and shoulders pattern with a neckline at $217, which we are identifying as a new technical level formed by the highs and lows of the current price action. If this pattern results in a break down we could easily see $195 or $184, which are levels we are well familiar with. If we don't see a selloff come through then expect LTC to continue the range between $217 and $227. We have quite a bit to go before our next target of $250.
BITSTAMP:LTCUSD
by quantguy
2
Stocks Inching HigherAfter ranging for a bit, stocks have inched higher to new highs. So far, 4073 is providing good support. Be careful of the broad vacuum zone that is forming below down to 4009. After such a large move, it is reasonable for stocks to continue to range or retrace a bit. However, in the current climate, it would be unwise to step in front of this freight train. We anticipate new highs sooner than later and 4144 is our next target. The Kovach OBV is strong, but appears to be leveling off.
FX:SPX500Long
by quantguy
1
Sharp Litecoin SelloffLitecoin has blasted through relative highs at $227, falling just short of our profit target of $250, before retracing sharply. We are currently at about $220. It appears that we are seeking support at this level, though a full retracement would take us back to $209, where we can anticipate stronger support. The levels $202 and $195 should hold, if LTC seeks to test the lower end of the $200 handle. The Kovach OBV was quite strong but has dipped sharply reflecting the selloff.
BITSTAMP:LTCUSDLong
by quantguy
1
Stocks Ranging at HighsThe S&P 500 is stubbornly clinging to highs. We saw a range day which was to be expected after blasting through highs. and establishing a point of control at about 4077. Our next target is 4144, and this comes from a Fibonacci extension. From here it could go either way. We could continue to range to solidify footing in this new price range, before breaking out higher. A retracement would also be healthy, which could take us to the 4040's, or worst case retrace the entire move back to 4009, since the move has formed a vaccum zone in this range. This seems unlikely, since there is strong momentum here as measured by the Kovach OBV. Dips should be considered buying opportunities and we may see our target reached by the end of the week.
FX:SPX500Long
by quantguy
More Momentum For Litecoin!!Litecoin has caught some tremendous momentum, taking it back to highs at $227. We should see some resistance here, as this seems to be a pretty significant level for LTC. It has has a fairly wide vacuum zone below back to $209, so if we see some ranging, expect this to be the lower bound. If not, $202 or $195 should definitely hold. The Kovach OBV is very strong here, confirming the bull momentum. Our next target is $250, which is a technical level, a Fibonacci Extension level, as well as a psychological level.
BITSTAMP:LTCUSDLong
by quantguy
Another Breakout for Ethereum??Ethereum has achieved highs and is forming a bull wedge consolidation pattern. This suggests we may be gearing up for another breakout. Our next target is $2231, which comes from a Fibonacci Extension level. If we see more of a pullback, we could easily hit $2025 or even $1945 and these levels should provide support and be considered buying opportunities. The Kovach OBV is still very strong and does not appear to be letting up. This could suggest that we are overbought at the moment and may at least range to find footing in this new price territory before another breakout.
BITSTAMP:ETHUSDLong
by quantguy
Stocks All Time Highs!!Stocks broke out to all time highs! We sensed they were poised for this, and there were two options to trade: anticipate the breakout or wait for a dip to lower levels first. Those who were patient were rewarded with a slight dip to buy, and those who yolo'd had to hold underwater a bit. We are currently seeing resistance at this new high, and a red triangle on the Kovach Reversals Indicator marks some trouble at 4032. The Kovach OBV is strong, but rounding off suggesting we may range at these new levels.
FX:SPX500Long
by quantguy
Ethereum Blasts up to Relative Highs!!Ethereum has blasted through resistance levels to finally come up for air around $1944, the head of our head and shoulders pattern from several days ago. This is a very bullish sign for Ethereum. We are likely to see some resistance here, and perhaps a consolidation pattern before another breakout. The move seems to be extended and a retracement is likely. Watch for ETH to feel out current levels a bit before another bull run. The Kovach OBV is quite bullish, suggesting its FOMO to enter a long trade at this point, but there is a lot of risk to a short position. The best idea seems to zero in on support levels at $1906, $1872, and $1821 and wait for a dip.
BITSTAMP:ETHUSDLong
by quantguy
1
Breakout near for stocks??Stocks have regained highs. The S&P has just barely inched above highs at 3987, but is still having trouble with 4009. We are seeing some weakness at highs and there are two possibilities. First, we could see a retracement and continuation of that consolidation of volatility preceding the breakout. We could see a wedge or flag form. If so 3928 will be a good level of support. However, we could be gearing up for a breakout from current levels. So if you are a breakout trader pay attention to the momentum at open. We will need clear, definitive buying momentum in order to sustain a breakout. If we see ambivalence then a retracement is highly likely so watch lower levels for support.
FX:SPX500Long
by quantguy
Litecoin Rejects $200's!!Litecoin seems to be finding good support at around $190, just above our level of $185. We will have good support at $185, but if not, we have seen further support at $174. We solidly rejected $202 which was the next barrier. It seems LTC is comfortable with the range between relative lows at $169 and $202. We will need to break $202 before considering higher levels and further price targets at $209 and $227. The momentum is broadly bullish, but this is rather weak with respect to what we have seen in the past.
BITSTAMP:LTCUSDLong
by quantguy