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Quantguy

Stocks Retrace From HighsStock indexes have pulled back from highs with stronger than expected construction and PMI data putting a damper on the markets' hopes that the Fed will taper their hawkish stance. These hopes were never really justified in the first place, so it was only a matter of time before reality set in. The S&P 500 inched above our level at 3909 and then fell back to support around 3848. We anticipate further support at 3792. The Kovach OBV has slumped so it is possible we may see some ranging here as stocks seek direction. If we can break out the next target is 3963.
FX:SPX500Short
by quantguy
3
Ethereum Pulls BackEthereum has pulled back from highs at $1653 or so. Multiple red triangles on the KRI suggest strong resistance here. We are seeing good support from $1547, which suggests that we are likely to range between these two values before another possible breakout. Such a breakout could take us to the $1700's where we will immediately see resistance from a cluster of levels, acting as a barrier to the $1800's. If we retrace further, $1424 should be considered a floor.
BITSTAMP:ETHUSDShort
by quantguy
5
Stocks Edge Higher, Looking WeakStocks have crept up, after rejecting highs at 3909. We had a brief retracement yesterday, which quickly found support and the S&P 500 was able to tick up past 3909, making a new relative high albeit barely. Several red triangles on the KRI suggest that we are running into stiff resistance at these levels. The Kovach OBV has slumped, so we will see if we have enough momentum to break out. If so, 3963 is the next target. If not, then 3792 should be considered a floor price.
FX:SPX500Short
by quantguy
1
Can Ethereum Continue to Rally?Ethereum has shown considerable strength, dominating the crypto market as it edges higher. We keep making higher highs and solidifying new upside targets. We have crossed through the vacuum zone to $1547, breaking that with ease. Then we were able to swiftly hit our next target at $1653. Red triangles on the KRI are confirming resistance here and we are pulling back slightly. However, $1547 is providing strong support. If we are able to break out again, the next target is $1694. Dedicated readers will remember that we will encounter significant resistance from a cluster of technical levels in the $1700's after that.
BITSTAMP:ETHUSDShort
by quantguy
2
Bitcoin Attempting a Breakout?Bitcoin is wavering around our upper bound, and target of $20.7K. We are really struggling to break through this level, with multiple attempts and many red triangles on the KRI confirming the resistance. However, with strength in stocks fueling a risk-on rally, we may be able to see a break out. We do appear to be forming a bull consolidation pattern, possibly a wedge or a flag. If we are able to break out then $22.4K is the next target. If we reject current levels, expect support at $19.5K or $19.0K.
BITSTAMP:BTCUSDShort
by quantguy
Stocks Continue to GainThe S&P 500 has edged higher, after a brief retracement from 3887. We seemed to reject this level but found support just above our level at 3758. Dedicated readers will remember that we anticipated support here in previous reports. From there we pivoted nicely and broke through the previous high of 3887 to reach our target of 3909. The Kovach OBV is climbing steadily so we will see if this rally can continue. If we can break through 3909 the next target is 3963. If we retrace, then 3758 should hold as a floor.
FX:SPX500Short
by quantguy
2
S&P 500 RalliesThe S&P 500 has shrugged off Amazon losses, pivoting just above our level at 3758. Amazon has given up $trillion status as weak holiday spending as forecasts project the weakest holiday sales growth quarter ever. We will see if stocks can continue to rally, as a red triangle on the KRI is confirming resistance at current levels. The price action is rounding off and the Kovach OBV has slumped. If we continue to rally, we will face resistance from 3887, and 3909, the latter corresponding to a relative high. If we retrace, anticipate support at 3758 again.
FX:SPX500Short
by quantguy
Oil Heads Toward the $90'sOil finally broke out, which was somewhat of an inevitability as the price was consolidating for almost a week. We saw a triangle corrective pattern in the mid/low $80's, with prices stubbornly refusing to move as the rest of the markets have made great strides. Finally, we were able to break out and our analysis was on-point. Sure enough, $88.74 acted as a barrier to $90.06 with resistance kicking in, confirmed by a red triangle on the KRI. Weakness in the US dollar surely had something to do with this. The Kovach OBV has soared suggesting there is genuine momentum behind this move. If so, we can expect to test $90.06 soon. If not, then we should see support at $85.55.
NYMEX:CL1!Long
by quantguy