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Tag: money

SPX: Gap and Go So Took My Profits

January 16, 2019 Published by

As the S&P 500 pushes further into the resistance zone I decided not to be greedy and booked the rest of my day (turned into overnight) trade.
Bad News is Good so Good News is Great
The market was strong yesterday and the day before despite poor earnings announcement from companies such as Citi.  Thus, when Bank of America and Goldman Sachs were upbeat I guess that means we are definitely going to go a bit higher?
Well, atleast open higher and that is what happened followed by a push higher.  Or as I call it a gap and go.  Being we have

Ethereum Hardfork Delayed

January 16, 2019 Published by

The Ethereum network is scheduled for a hard fork called Constantinople today.  But unlike the hard fork on Bitcoin Cash in recent months, this hard fork is expected to not cause any issues as all transaction validators are likely to upgrade their software which will be a plus for the Ethereum community.

The upgrade is intended to reduce mining rewards from three to two, speed up processing times, improve the way the network monetizes data storage and address crypto scalability — the ability to process transactions efficiently and quickly.   Thus, this hard fork is likely to be positive for the valuation

What happens after the bounce is what matters!

January 16, 2019 Published by

Well folks, we are now here. On Christmas Eve I said we are bouncing, followed by what happens after the bounce is what matters going forward. This V shape bounce (somewhat surprising how quick) has now ran into some HUGE sellers at 2610 and 2680.

If you go back and read my previous posts, these two levels have been mentioned over, and over, and over again, and again, and again. By drawing the resistance line you can literally see the wall that has been created from past prices. There is a 90% chance this causes trouble, the other 10% is a

Crypto Contest January 16: NoLimitCoin

January 16, 2019 Published by

NoLimitCoin (Bittrex: NLC2BTC) has broken out of the triangle pattern in the daily chart.

(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, NoLimitCoin began a wave one advance on November 23, 2018. The red wave one finished on December 3, 2018, and the red wave two correction ended on December 7, 2018. The red wave three  (blue sub-waves i-ii-iii-iv-v) advance finished on December 27, 2018, and the red wave four (blue sub-waves a-b-c) correction ended on January 13 this year. If this wave count is correct, NoLimitCoin should be heading next towards the December 27, 2018 peak in the red wave five.

(Chart

Currency Analysis Report 1-16-19…Brexit Delayed Again

January 16, 2019 Published by

Two years ago, England voted to leave the EU.  Today, U.K. Prime Minister Theresa May asked Parliament to approve the withdrawal agreement with the European Union.  The withdrawal agreement was rejected by 432 votes to 202. The 230 vote defeat is thought to be the largest in U.K. political history.  U.K. government now has just three working days to map out a new plan of action.

The more Brexit lingers, the probability decreases England will leave the EU.  Many think leaving the EU will hurt England.  A Bank of England report in late 2018 said leaving the EU would result in

Intraday Analysis: SPX Pressing The Upside Range

January 15, 2019 Published by

Over the last several days the S&P 500 has been a bit range bound.  Looking at a shorter time frame, such as the hourly chart we can see this trading action and that the index at this moment is trying to breakout to the upside.
Market Action
The opening bell was 30 minutes ago and despite disappointing earnings from yet another bank, JP Morgan this time, the SPX is pressing higher.

As you can see in the hourly chart above, price action has been stuck in a range the past five trading sessions and the index is now pressing the upside of that

Crypto Contest January 15: VIBE

January 15, 2019 Published by

VIBE (Binance: VIBEBTC) has broken out of the triangle pattern in the daily chart.

(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, VIBE began a wave one advance on September 12, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on September 22, 2018, and the red wave two (blue sub-waves a-b-c) correction ended on December 14, 2018. If this wave count is correct, VIBE should be heading next towards the September 22, 2018 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))
Funnymentals
VIBEHub is a virtual and augmented reality metaworld that specializes in using volumetric video

Unusual Options Activity In PG&E Corporation

January 15, 2019 Published by

PG&E faces at least $30 billion in potential liability costs stemming from wildfires in 2017 and 2018, many allegedly started by the company’s equipment, that have led state officials to doubt the safety of the company’s electric distribution system.

Investigators have already determined PG&E’s equipment liable in at least 17 major wildfires in 2017. State investigators are still working to determine if the company’s equipment was partly responsible for November’s Camp Fire, which killed at least 86 people and destroyed about 14,000 homes, making it the state’s deadliest fire.

PG&E Corp. stock cratered Monday after the company said it will file for

If the Aussie Bottoms, so do Commodities…

January 15, 2019 Published by

I have been lurking and hunting for the commodity bottom for the past 3 years. Every single small rally has been sold and we truly are in uncharted waters regarding how pressed down the commodity market has been recently. Commodities are one of the largest impacts to the Australian economy seeing as it has an abundance of natural resources on the continent. Therefore the Aussie dollar wants to see commodity prices increase. Check out how oversold the commodity market is…

And then look what happened after each of these signals. I am not sure if the time is now, seeing as

SPX Bulls Showing Resilience

January 14, 2019 Published by

After quite the bounce last night and some negative news one could think the bears would come roaring down and sell off the market for at least a day, but the bulls seem to remain strong recently.
Bank Miss, China Down
This morning we got the first of what will be many banks reporting their fourth quarter results.  Citi kicked it off with a miss on revenue, which seems to be the expected tone for the banks this earning season from the pundits.
Additionally, data out of China sparked worries over a global slowdown as their import/export numbers were lower than expected.
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