quantguy

quantguy

The S&P 500 has gradually trended up, suffering from low liquidity and thin trading from the holiday yesterday. We are encroaching upon the lows of the value area from last week. The small uptrend appears weak, and if we don't see momentum come through at the open, then we will surely dump to lower levels, with 3676, 3658 or 3645 likely targets. If we are able...

quantguy

Litecoin dumped with the rest of the crypto market over the weekend, however it did not make new relative lows, which is encouraging. We tested lows just above our level at $39.05, finding support at $41 or so. We have since rallied significantly, testing our level at $55.84, which was quite a rally. We are seeing good support from $52.04 after a brief pullback...

quantguy

Ethereum dumped over the weekend into the $900's. We have been anticipating 3 digit ETH for a while now, but buyers took interest when ETH reached the upper $800's and subsequently we saw a nice rally to reestablish the $1K's. We are currently in the value area between $1017 and $1235. We are meeting resistance in the $1100's confirmed by multiple red triangles...

quantguy

Bitcoin plummeted over the weekend, bottoming out in the low $17K's. We have tested highs from the rally in 2017, which we anticipated would happen at some point in many of our reports here going back to November 2021. We have since equilibrated and found footing, with a rally taking us back to $20K. We are meeting resistance here confirmed by two red triangles...

quantguy

The US dollar has been quite volatile lately. Last week, we dove from highs in the 105 handle, to just above our level at 103.24. Since then, we've rebounded, establishing value in the 104's. We met immediate resistance at 104.83, and the 105's were too ambitious for the DXY at the moment. We've since stabilized between 104.00 and 104.83. The upper bound of...

quantguy

Stocks appear to have bottomed for now, forming a bull wedge consolidation pattern at lows. The level 3624 appears to be a hard lower bound for now. We are due for a relief rally, as stocks are broadly oversold. If so, 3825 is a likely ceiling, as it is a relative high from last week. However, the value area between 3714 and 3792 seems a reasonable target if...

quantguy

Litecoin has picked up slightly, after finding support in the $30's. The Kovach OBV is still really bearish, but we have edged up, breaking past $46.02. We are currently just above that level, and $51.92 is the next target if we can keep this price action moving. If we selloff further, expect strong support at $39.05.

quantguy

As mentioned yesterday, Ethereum is ranging between $1017 and $1235. We appear to be forming a bear wedge pattern, and the Kovach OBV has turned south. We do appear to be finding strong support at $1K, but there is a lack of follow through from buyers, and typically this means another dump is in order. As the economy careens toward a recession, the likelihood...

quantguy

Bitcoin has slumped forming a bear wedge pattern at lows. The low of $20K seems to be providing good support for now, but the lack of buying interest is concerning. The Kovach OBV is picking up slightly, but we are seeing a lack of follow through in the price action. If we do cave further, we should have strong support from $19K, a major Fibonacci level on the...

quantguy

The US dollar sharply retraced after topping out at our target at 105.78. We noted the rounding off in the price action as we formed the top at that level, suggesting a retracement or some ranging was due. The DXY has been incredibly bullish and a retracement was due. We've smashed through levels in the 104's, establishing the 103's. We have found support just...

quantguy

As we mentioned yesterday, lower levels for oil are holding after it retraced from highs. Our level at $122.95 has held as a double top, and we have since pulled back to test support levels at $116, then $113. We are finding good support at $113, confirmed by green triangles on the KRI. The Kovach OBV has flattened out, suggesting we will range here at current...

quantguy

The S&P 500 dipped further, breaking through to the high 3600's, before a brief retracement attempted to reestablish the 3700's. At the time of this writing, we are currently wavering at 3700 exactly. The Kovach OBV is flattening out suggesting that we will not see much more action until momentum comes through. It is likely we will range at some point to...

quantguy

Gold found support at 1815 and shot up to the mid 1850's. As we have mentioned in these reports multiple times, we are meeting resistance from a cluster of levels in the mid 1850's. In particular, 1851 and 1857 are providing formidable resistance. If we are able to break through then 1865 and 1876 are the next targets. The Kovach OBV is rounding off suggesting...

quantguy

Bonds have pressed higher following the Fed's 75bps rate hike. We have broken out of 115'29 back into the 116 handle, topping out at our level at 116'20. A red triangle on the KRI suggests that we are facing resistance here. We do appear to be seeing a bull wedge consolidation pattern, but the Kovach OBV has leveled off, so it is likely we will fall from here. ...

quantguy

Litecoin rallied after the FOMC event yesterday, but quickly met resistance around $50, just under our level at $51.92. We subsequently plummeted back to the $40's, finding support at $45.49. If support does not hold here, then $39.05 is the next target. If we are able to rally, then $51.92 is a likely ceiling for now. It is likely that LTC will range, and...

quantguy

Ethereum pumped a bit from lows after the FOMC event yesterday lifted stocks in a relief rally. This was quickly faded and we met stiff resistance at $1235, which we anticipated yesterday. We are currently wavering in the area between $1235 and $1017, establishing value here for now. We expect $1K to hold for now, as it is a strong psychological and technical...

quantguy

The FOMC event did little for crypto. The Fed raised interest rates by 75bps, the biggest hike since 1994, to combat the highest inflation we have seen in 40 years. The hike was largely priced in and stocks rallied a bit as a consequence, taking the crypto market with them. Bitcoin tested $22.4K, and swiftly rejected it, after red triangles on the KRI confirmed...

quantguy

The FOMC event did little to appease the stock market yesterday. To combat inflation at 40 year highs, the Fed raised interest rates by 75bps, the largest hike since 1994 . This was largely priced in and we saw a brief relief rally in equities, which was quickly faded, and we have since broken support to establish new relative lows. The level 3714 was our last...