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Crypto Analysis Report 1-20-19…Litecoin Is At A Critical Level

January 20, 2019 Published by

Charlie Lee aka Satoshi Lite and the creator of Litecoin sold his stake in Litecoin in 2017 due to a conflict of interests.  But was it a conflict of interests or did he see what many didn’t see.  Charlie did say that he had lived through the DotCom bubble and that Bitcoin’s dramatic rise looked similar due to all the hype.

2018 was a terrible year for
Litecoin, but what coin didn’t have a terrible year.  Litecoin once traded north of $300, but fell
during the bear market.  I honest didn’t
see Litecoin returning to sub $30, but that’s what happen.

Nevertheless, Litecoin is

BITCOIN: This is the EW count on play…

January 20, 2019 Published by

I have to make reference here to my post published on January 15th, called “BITCOIN: Current Possibilities”.

There, I planned two scenarios, depending if the 5th wave was already completed or not…

Well, what it seems now is that the previous 4th wave formation has lasted 5 days to complete and what we are seeing right now is the final 5th wave down…as an extended wave.

The target support 1 has been crossed by the price, reaching resistance at the same level of wave (3) and creating a double bottom which is a good sign of recovery but, the (5)th wave down

Crypto Contest January 20: PotCoin

January 20, 2019 Published by

PotCoin (Bittrex: POTUSD) has broken out of the triangle pattern in the weekly chart.

(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, PotCoin began a wave one advance in January 2016. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in November 2017, and the red wave two (blue sub-waves a-b-c) correction ended in December 2018. If this wave count is correct, PotCoin should be heading next towards the November 2017 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))
Funnymentals
PotCoin is a digital currency for the cannabis industry and community. Cryptonomics covered the coin last year.

(Sources: PotCoin and YouTube)

If you

Cancelled My USD/JPY Forex Limit Order On Friday

January 20, 2019 Published by

On Friday, I had a great set-up on the USD/JPY. Again, since I’m a forex swing trader, this new strategy will allow me to get into more trades. So, the set-up was the following:

Daily Chart (curve/range time frame) – daily candle in the middle of the curve, but price broke the recent pivot high (white dashed line).

4 Hr Chart (trend time frame) – the trend is up.

60 Min Chart (entry time frame) – the hammer candle (green circle around wick) indicated buy orders just below. But price never came back to my zone. The reason why I

Unusual Options Activity In Freeport-McMoRan

January 19, 2019 Published by

Freeport-McMoRan (NYSE: FCX) engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. 

After a stellar 2017, FCX fell 46% in 2018 in large part to the drop in copper amid the US-China trade war.

As a result FCX received several downgrades from Wall Street in 2018.  The last downgrade was from RBC Capital, in November to “underperform” from “sector perform” and reduced their price target on FCX from $16 to $15.

FCX is expected to announce earnings on

Crypto Contest January 19: BitShares

January 19, 2019 Published by

BitShares (Poloniex: BTSBTC) has broken out of the triangle pattern in the weekly chart.

(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, BitShares began a wave one advance in October 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in January 2018, and the red wave two (blue sub-waves a-b-c) correction ended in December 2018. If this wave count is correct, BitShares should be heading next towards the January 2018 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))
Looking at the monthly chart, I believe BitShares is currently in the red wave three (blue sub-wave iii).

All Eyes On Brazil’s Bolsonaro

January 19, 2019 Published by

Brazil stocks have been rallying since Bolsonaro’s presidential victory in October last year. 

While the global equity markets tanked in the fourth quarter, the Brazil’s Bovespa index gained 11% in the final quarter of 2018.  Brazil’s economy has struggled for growth in recent years.  Brazil also has massive pension issues.  For example, Brazil’s current retirement age is 60 for men and 55 for women which has has put a strain on the system. But global investors think Bolsonaro will make the changes necessary to help and grow the country’s economy again.

The most popular Brazilian ETF, iShares MSCI Brazil, EWZ, rose

CSX Transportation…Not Full Steam Ahead

January 18, 2019 Published by

CSX reported near double-digit top-line growth for their fourth quarter after the closing bell on Wednesday.   CSX’s volume and pricing strength led to mid- to high-single-digit revenue growth in a number of freight categories, including chemicals, automotive, forest products and coal.   However,  CSX told investors to expect low-single-digit revenue growth in 2019, a 7% decrease from 2018.

CSX is in an “unfamiliar position,” as Wednesday’s earnings report did not consist of its typical big beat and management’s tone during the conference was void of any “swagger,” Shanker said in a Thursday note.

CSX said it can’t identify any trend in its business

Crypto Contest January 18: Power Ledger

January 18, 2019 Published by

Power Ledger (Binance: POWRBTC) has broken out of the triangle pattern in the weekly chart.

(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, Power Ledger began a wave one advance in November 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in January 2018, and the red wave two (blue sub-waves a-b-c) correction ended in November 2018. If this wave count is correct, Power Ledger should be heading next towards the January 2018 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Power Ledger provides blockchain energy solutions for humanity. You can view their peer-to-peer electricity trading project in Bangkok,

Sherwin-Williams and Lowes, For Better Or Worse

January 18, 2019 Published by

Shares of Sherwin-Williams tanked on Tuesday after the company warned that its earnings in 2018 came well short of guidance, citing weak sales in North American stores. 

The paint maker on Tuesday reported its preliminary results for the fourth quarter and full year 2018. Net income for 2018 is now expected to be $11.15 a share, well below previous guidance of between $13.85 and $14 a share. Shares of the lost more than 6% in Tuesday’s session.

Analysts will often look at the Sherwin-Williams as a barometer for health of the consumer and housing market.

Sherwin-Williams will continue to operate its own

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