DropDead_Fed

DropDead_Fed

Daily 200 EMA rejection may come now!!!! LAST CHANCE?!?!?!?

DropDead_Fed

I see only two scenarios: We create a swing low Monday on bad ISM data and weekend CV news, then start consolidating for a few days to perhaps weeks and then get rejected at first key ressitance like weekly 50 EMA/MA at around 3030. I don't think the trapped longs from last fall to now will be able to get out. That is wishful thinking even with Fed intervention.

DropDead_Fed

If Eurodollars break to upside, which is indicative of the fed about to drop rates. This is a much safer play than shorting the market as the risk is much lower. You can go long eurodollar futures or futures options (I like the call options) using tastyworks which has some of the lowest fees. my referral link if interested: start.tastyworks.com

DropDead_Fed

Unbelievable how TSLA was rejected precisely at historic monthly/weekly chart chart 300 fib extension (on linear calc, not log scale). Not only are technicians giving more weight to linear fib extension levels (incorrectly I may add) but this could also signal market top? Watch NFLX for clues in coming weeks. MOST IMPORTANT THING IS TO WATCH FED RESERVE...

DropDead_Fed

Will it break >>10k and

DropDead_Fed

I'm not convinced until we close daily above the green trendline which is not resistance, but bitcoin has made a first major attempt in months to break out of the bear flag. Perhaps on the iran conflict news?

DropDead_Fed

Still below 5 SMA - not looking good... expect in macro case to drop back to sub-5k double bottom or much lower ~$1k bottom if we drop below $3k. This is worst case case. Hopefully doesn't happen - but it's not looking good in these charts - need a rally to break us above the macro bull flag that has formed.

DropDead_Fed

The Precious Metals (PM) party does not begin until the Gold/Silver ratio breaks below out channel

DropDead_Fed

Most people according to davethewave are using incorrect fib levels... what's interesting is that major moves have occurred on linear fib levels used on logarithmic charts (see recent rejection level here)

DropDead_Fed

Most people according to davethewave are using incorrect fib levels... what's interesting is that major moves have occurred on linear fib levels used on logarithmic charts (see next chart)

DropDead_Fed

$16.30 is going to provide excellent entry with tight stop point.

DropDead_Fed

Silver starting to make it's move to breakout of consolidation and pullback and miners, esepcially the juniors really pushing hard up.... expect next move to test resistance line above.

DropDead_Fed

Come on BTC - is this a bull trap or are you going to finally close weekly above recent highs at $11k

DropDead_Fed

Eitehr a short term bull trap or we break out here...

DropDead_Fed

Short term have either a 21.5 target or continued consolidation to retest weekly 21 EMA rising below and worst case at some point we find support on monthly 10 SMA around $16. Otherwise the next major move is $21.5 and then $26 at which point I would expect to see major daily and possibly weekly bear dvis form.

DropDead_Fed

It's doubtful at this stage bitcoin will ever get below $8000k because of the major fast rising exponential moving average (EMA) supports which include: Weekly 21 ($9310) and 55 ($7720) EMAs Monthly 5 ($9200) and 12 ($7850) EMAs (All values using Bitstamp)

DropDead_Fed Updated 

Still awaiting key level to break... in the past few cycles it was stubborn and required a retest of the overhead supply breakdown (about 86.0)... currently the level is around 83.0. The bottom panel shows the ratio... on top panel I have plotted SnP500 in blue and gold (in gold color) and silver (in silver color). You can see the lats two crisis also had...

DropDead_Fed Updated 

Not sure this will hold up next week, if it breaks, targeting ~$17.5 next support. Overall very bullish silver, but expect a decent pullback soon after we see bearish divergences on the daily timeframe which we have not seen yet. Also need to watch gold as the leading indicator for silver.