quantguy

quantguy

Stocks are broadly ranging in anticipation of more news from Jackson Hole. In an environment where the only really meaningful data point that matters is Central Bank forward guidance, stocks are waiting for a better idea. Watch for stocks to maintain this range until we have more insight or the market starts to price in a decision. It did appear that we got a...

quantguy Updated 

Bitcoin has retreated from highs in the lower $50K handle back down to the $49K's. Although it has rejected $50K, it is still showing a clear affinity for higher levels. We are just below the support level at $49.7K. If we break through this we will be testing $50.8K, which was the previous level of resistance from which bitcoin retreated. We have a very...

quantguy Updated 

Ethereum is hugging the upper bound of the range at 3324. It is developing a clear affinity for highs. Volatility has consolidated notably, suggesting that we could be ready for a breakout to higher levels. We are seeing a bull wedge pattern forming. The next target is $3473, which is roughly the middle of the $3K handle. This will be a significant step...

quantguy Updated 

Litecoin is forming a bull flag as prices tend toward higher levels. We have solidly established the $180 handle, and appear to be gearing up for another breakout. Our next target is $195, which is significant because it is the last target before regaining $200 again. We should have strong support from $174 and $169 if it does not hold, but this seems unlikely.

quantguy

Stocks saw a huge rally yesterday that brought all the major indexes to new highs. The S&P is no exception. We have cracked 4486 finding resistance just above this level, as confirmed by a red triangle on the KRI. The Kovach OBV was very strong but has rounded off suggesting that the asset is giving pause. We are perhaps due for a reasonable retracement, which...

quantguy

Litecoin has made new relative highs, achieving the $190's if but briefly. We are currently seeing support from the high $180's, and are just above our upper Fibonacci anchor at $188. There is a bit of a divergence with the Kovach OBV and we will see if LTC has the momentum to maintain highs. If not, we will have further support at $184, then $174. Our next...

quantguy

Ethereum has caught momentum and we have broken through relative highs. The level $3324 provided significant resistance recently, but it is now providing support. The Kovach OBV is still a bit flat, and is turning over, so we will see if we have enough momentum to sustain these highs. If not, $3200 should provide support. There is a fairly wide gulf between...

quantguy

Bitcoin has broken out finally to $50K! It had been holding the range between $48K to $49K for some time, and was starting to round off. But momentum came through and this was a much needed lift. We finally have mustered the momentum to achieve $50K, which is a significant milestone. We will see if we have the momentum to sustain these higher levels or if it...

quantguy

After bottoming out at 4355, stocks have reclaimed the 4450's, almost a hundred points higher. We are just a few levels away from all time highs again. We appear to have broken out from an inverse head and shoulders, which is a very bullish sign. Currently, the momentum is letting up for a bit, which suggests that we may see a range day, if we don't see...

quantguy

Litecoin found support off lower levels at $161. We caught a nice bid here, breaking through $174 and bringing us back up to the former value area, just under $180. We are currently seeing another burst of momentum come through as measured by the Kovach Chande which is shooting up at the moment. The Kovach OBV, which measures longer term momentum is also...

quantguy

Ethereum caught a lift off the lower bound of the range at $2965. This was a level we had spelled out for you weeks prior, and it has held perfectly. Since then we blasted off past the midpoint of the range, to the last Fibonacci level before relative highs at $3324. We are currently finding support at $3200. Be careful because it is starting to look a bit...

quantguy

Bitcoin caught a bid off lower levels at $43.8K. It has broken through the curve bounding the 'rounding off' behavior. This plus the clear rejection of lower the lower bound of the price range is a bullish sign for Bitcoin. We won't be out of the woods yet until we can solidly break $48.2K. This is the upper bound that Bitcoin has respected since its recovery...

quantguy

Stocks are recovering from the dive they took down to 4350. We found support here and seem to be forming a consolidation pattern. We've rejected our level at 4421 as confirmed by a red triangle on the Kovach Reversals Indicator. Currently, we are finding support at lower levels, namely 4380. The Kovach OBV has picked up notably, suggesting we may find further...

quantguy

Litecoin has dipped significantly from highs. We have some rounding off in the price action from above, indicating that we may have peaked out at $188, the relative high. We do appear to be finding support at the 50% retracement, just above $161. If this does not hold, we should have further support at $158, a technical level, then $155, the 0.382 Fibonacci...

quantguy

Ethereum has dipped to strong support at $2965. Our technical level coincides nicely with the 0.618 Fibonacci level, confirming its importance and the support it provides. However, the fact that ETH dipped below the $3K handle and did not see an immediate buyback suggests that it is now comfortable with the $2K handle. Additionally, we have a 'rounding off' in...

quantguy

Bitcoin has dipped to the $43.8K, one of the lower levels in a cluster of support levels in the lower $40K handle. We are clinging to support here, but Bitcoin is looking very weak. The price action seems to be 'rounding off' as illustrated by the curve above. We should find support at $41.9K, or at worst $40K. Our support levels mentioned align nicely with...

quantguy

Stocks have tumbled overnight in tandem with Asian stocks who sold off after Alibaba shares in Hong Kong tanked more than 5%. There is strong support at 4350, but that is more than 100 points away from highs. This is a significant dip for the S&P, but we should find support at current levels. This is a 0.618 retracement from the bull run since the beginning of...

quantguy

Litecoin broke $169, and was starting to look quite bearish before getting bought back in the middle of the vacuum zone above $158. Currently it is finding support at $169, but the Kovach OBV is rounding off a bit, so this may turn into resistance. Watch that vacuum zone down to $158 as current levels look wobbly. If we do regain strength, then $174 should be...