EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
How to improve your decision--makingh between Nasdaq100 and SPX by watching technicals in bond yields - Details in video description.
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
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on the NYSE the internals were as below
Up Volume 1160 m
Down volume 63 M
Advancers 2546
Decliners 495
New highs 213
New Lows 1
If you divide up volume by advancers you will get 0.45 M- i.e. on an average each advancing stock was traded for 0.45M in volume. If you divide down volume by decliners you get 0.12m only. Therefore advancing stocks were traded nearly 4 times more in volume than declining stocks - that is about as bullish as it gets.
Google ARMs Index (trin) and other internals like A/D breadth and line etc. to gauge internal strength of the market.
I beleive GBP will go to 1.7 - but that is the trickiest one to call as GBP has a number of times decoupled from the risk rallies.
imf contributed - maybe - but this all looks very cyclical. around the end of most months the big money sells off - books profit. in the first 10 days of the month - money comes back - takes it right up - then all the amateurs start to come in - by then it is coming towards the end of the month and the sell off starts again - and you start hearing on cnbc about gloom and doom. prices are driven down at the start of the new month as the spooked amateurs start selling - and the big boys buy it. its almost been cyclical since April - excluding the slightly longer correction in June.
the s&p chart shows it better - but on this forum i can't find it - EURUSD correlates pretty much with it.
volume on the broad based Russell 3000 has been identical over the last couple of days as has been at the start of every cyclical rally. all those jokers on TV talking of low volume need to realise - volume going down is mostly higher than volume going up as rally's build over more days than pull backs.
money is easy and cheap - they will probably come in with another stimulus to keep every one happy.
and as you can see oil seems to be stalled in the 70s which is good and will help the rally further, as oil rallies tend to spook quite some investors
EURUSD heading to 1.6
USDCAD to 1.03
GBP to 1.7
AUD to 0.94
NZD to 0.76
S&P to 1150
all in the next 2 weeks
should be over 1200 by year end - has momentum, central banks will look to buy as the Fed does not show any inclination to raise rates and the dollar continues to devalue
Do you see the down trend intact in USDCAD or do you see a break upwards
thanks
See chart - GBPUSD will breakout this week one way or either from this triangle like formation - whether it will be a strong move I can't say - will depend on equities and more importantly on the BOE cash rate decision.
Check this link outhttp://www.forexfactory.com/calendar.php
u can see when the rate decision will be. Within a minute of the release u can refresh and will see a green disc which if you click will give you the number normally within 15 to 20 seconds of the release
this calendar can help you keep track of all announcements, u can change the time zone to your own as well as filter the results in terms of potential impact and which currency u want to track. also you can read details of the release and how they could impact the currency as well as see a graph of the last couple of years data related to the release.
Good Luck
In my opinion H&S patterns perform better on daily and weekly charts. However, on your 5 hr chart I can see a clear down trend.
Good Luck