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Ghostsquawk

Litecoin Tests $150's... When to Get Excited??Litecoin saw a nice relief rally, as we anticipated yesterday. Prices were looking a bit oversold, even for Litecoin. We were able to test $153, coming just short of this level before a red triangle on the KRI confirmed resistance just below it. The Kovach OBV is completely flat, aside from a very slight uptick with the rally. We should not get too excited over this rally. As mentioned yesterday, this is likely a relief rally for now. Watch for Litecoin to establish value between $153 and the $140's, with $147 being the nearest level of support. After that, we should have support at $141, then $134, but we aren't likely to see these levels today. On the upside, we still have to break $165 to confirm a bull trend.
BITSTAMP:LTCUSD
by quantguy
Can Stocks Rally Again??Stocks have edged up to highs, hitting our exact level at 4729. The level 4668 provided good support on Friday's small retracement. The Kovach OBV is drifting higher, but this indicator seems weak with respect to the rally, and so we anticipate some resistance at these highs. If we do retrace then 4693 and 4668 should provide support. If we are able to break out, then 4763 is the next target. This level is a Fibonacci extension level from Fibonacci levels anchored on the upper and lower bounds of last night's move. We are starting to get into the holidays, so we will see if stocks have the strength for one more breakout before traders sign off for Christmas break.
FX:SPX500Long
by quantguy
Inverse Head and Shoulders in Oil??Oil is still feeling global demand woes and remains in the high 60 handle. We are seeing an inverse head and shoulders pattern with a neckline at 68.96. The second shoulder has yet to fully form so avoid trading this preemptively. If we break out, we could easily hit 72.99, a relative high. If we reject it, then this would be a bearish sign, and we could easily see lows of 62.80 again. The Kovach OBV is still very bearish, and perhaps oversold. But is does appear to be letting up a bit, perhaps suggesting a relief rally may be in store soon.
NYMEX:CL1!
by quantguy
1
Stocks Pause Below All Time HighsStocks are hugging the upper bound of the range discussed yesterday. This coincides with all time highs at 4633. The level we have identified nearby is 4629. The Kovach OBV is still very strong, but appears to have tapered. If momentum persists, we can anticipate another breakout soon, and 4649 is our next target, set by Fibonacci Extension levels. There is a vacuum zone below to the next level of support at 4580. After that, we can expect further support at 4564, 4545, and 4521. We are due for a technical correction. While it may not happen today, those last three levels could be ideas to buy back when we eventually see a correction.
FX:SPX500Long
by quantguy
1
Ethereum New Highs!!Ethereum has tested highs, and inched out a new all time high. Currently it is facing some resistance at $4450. The Kovach OBV is quite strong, so the bull momentum is likely to persist. If so, then $4616 is the next target. However, $4450 is providing some pretty strong resistance, so we may retrace back to support at $4258. If so, expect a consolidation pattern like a bull wedge or flag to form before another attempt at a breakout. Watch the vacuum zone below to $4020.
BITSTAMP:ETHUSDLong
by quantguy
1
Bitcoin Breaks Out, Immediately Faces ResistanceBitcoin has broken out from the range between $59.4K and $62.4K. We alerted you as to the upside bias in cryptos yesterday. Currently, we are feeling out the middle of the range between $62.4K and $64.3K. We are seeing a red triangle on the KRI suggesting there is some resistance forming. The Kovach OBV has picked up notably, so watch for $64.3K as the next target. If we can breakout further, $66.3K is the next target. From below, we have plenty of levels of support including $62.4K, $61.6K and $59.4K.
BITSTAMP:BTCUSDLong
by quantguy
1
Bitcoin RangesBitcoin has quieted down, after some volatility after establishing new highs. It has stabilized in the range between $59.4K and $62.4K. We are currently testing the high of this range, with some red triangles on the KRI reflecting resistance. The Kovach OBV is still pretty flat, but has gradually trekked upwards, suggesting a slight bull bias. If this persists, we can expect a breakout to test higher levels in the $60K handle, at $64.3K then $66.3K. If we head south, expect further support at $59.4K again, then $57.7K
BITSTAMP:BTCUSD
by quantguy
1
Stocks Make New Highs!! What's Next??Stocks make new highs, despite persistent issues in the supply chain, transportation industry and protests over the vaccine mandates. The S&P 500 has broken out of the 4500's and seems to have secured the 4600's for now. We came within 5 points of our target at 4632, with the current high at 4627. We are seeing a red triangle on the KRI at this level suggesting we will face resistance here. Watch for continued momentum at open to carry the trend established in the Asia-Pacific session this morning. If it does not, we should range in the value area between 4580 and 4627. The Kovach OBV is still very strong, so the trend is likely to remain bullish.
FX:SPX500Long
by quantguy
1