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Quantguy

Russia Tensions Hit StocksStocks have tanked off Ukraine/Russia tensions. We were holding the value area between 4462 and 4580 last week, but have smashed through the lower bound of this range and have reentered the value area between 4272 and 4440. The Kovach OBV has dropped significantly, but appears to be leveling off as the S&P 500 clamors to find support. A green triangle on the KRI signifies some support around 4364 or so. If we continue the rout, then 4272 should be the lower bound. If we pick up momentum, then 4440 and 4462 are the targets to watch.
FX:SPX500Short
by quantguy
Sideways Correction in Oil, with Bull BiasOil has retraced from the 90's to 88.74, as we anticipated in our reports. We are extending the sideways correction that started forming after we rejected relative highs in the 92's, currently inching up above 90.00, just barely. The Kovach OBV is still strong, but has started to level off as oil ranges. There isn't much data to support a further correction, especially after the IEA has stated that the market is 'tight' but if we selloff further, we should see support at 85.55. If we see more momentum for a bull run, then 92.03 must be broken once more before we can consider another new relative high.
NYMEX:CL1!
by quantguy
Gold Falls Short of $1836Gold has found resistance at 1836, exactly as we anticipated in these reports. We have since retraced back to support at 1826, the next level down, after testing 1815 and finding support just above this level. Two green triangles on the KRI suggest strong support at 1821 or so. The Kovach OBV was pretty strong, but has leveled off in tandem with gold's top. From here, we are likely to establish value between 1815 and 1836. Note the vacuum zone below 1815 to 1795, which was a previous value area. If support does not hold at current levels we will surely test this value area once again.
COMEX:GC1!
by quantguy
1
Bonds Smash Lows After Inflation DataBonds took a sharp nose dive off increased Fed rate hike expectations and inflation. We smashed through our lowest levels of support and drove deeper into the 126 handle, before finally bottoming out at 125'17, a support level extrapolated from inverse Fibonacci levels, a tool we are relying on more and more, now that we have exhausted all of our lower technical levels. We are seeing a brief pivot off this level, and appear to be making a run for the 126's again. Currently we are meeting resistance at the psychological level of 126'00, with 126'02 providing resistance as confirmed by a red triangle on the KRI. The Kovach OBV has turned even more bearish with the massive selloff yesterday, but does appear to be leveling off with the support. If we are able to break into the 126's again, then 126'11 is sure to provide resistance. Our next target below is 125'07 if we selloff further.
CBOT:ZN1!Short
by quantguy
Litecoin Rejects the $140'sLitecoin has sharply rejected $141 as we anticipated in these reports. It was starting to look top-heavy technically anyway, but inflation data and increased Fed rate hike expectations caused a sharp selloff from these higher levels. We are currently finding good support in the $130's, specifically at our technical level of $130. A green triangle on the KRI is confirming support here. If it does not hold, then $124 is the next level down. The Kovach OBV has leveled off suggesting that we are likely to maintain current levels and range for a bit as the crypto market finds footing and establishes value.
BITSTAMP:LTCUSD
by quantguy
$3K Holds as Ethereum Sells OffEthereum rejected higher levels at $3200 as we predicted here all week. We were able to breka through $3200 for a brief time, coming just shy of the next target of $3324, where several red triangles on the KRI confirmed prohibitive resistance. Inflation data and increase Fed rate hike expectations have bled into the crypto market encouraging a selloff across the board. However, $3K is still holding strong, with several green triangles on the KRI confirming support here, just above our next technical level of $2965. If this does not hold there is a vacuum zone down to $2852. The Kovach OBV has leveled off so we anticipate support to hold for now.
BITSTAMP:ETHUSD
by quantguy
Bitcoin Rejects Higher LevelsBitcoin made a run for higher levels, breaking through resistance at $45K, but topping out at $45.6K, exactly as we predicted here. It seems that inflation data and increased Fed rate hike expectations have taken their toll on crypto. We appear to be maintaining the $40K's for now, but have retraced sharply to $43.1K. This level has held strong in the past, but if not, then we have a vacuum zone to two strong levels in the $41K's. If bull momentum returns, we have several levels in the $45K-$46K range that should slow us down, but if not, the next target is $47.4K.
BITSTAMP:BTCUSD
by quantguy
1
Bull Wedge in Litecoin 📈🤑Litecoin has tested $141 again as we anticipated yesterday. We appear to be forming a bull wedge pattern with the upper bound at $141. We are seeing some resistance here as confirmed by red triangles on the KRI. But it does appear that momentum is mounting and we could see a breakout. If so, $147 is the next target, then $153. If we retrace, $134 then $130 should provide support. The Kovach OBV has started to pick up, so we are more confident with the bull run
BITSTAMP:LTCUSDLong
by quantguy
1
Ethereum Holds the Bull TrendEthereum is continuing the bull trend with momentum picking up. The Kovach OBV is still strong and we have not seen a significant retracement. We are within inches of our next target at $3324, with some red triangles on the KRI confirming resistance. In the event of a retracement, $3200 should provide strong support, where it once provided resistance. But after this, there is a vacuum zone to $2965. If we are able to push higher, $3416 is the next target.
BITSTAMP:ETHUSDLong
by quantguy
Bull Wedge in Bitcoin 📈🚀Bitcoin has made another run for relative highs, with $45K still an upper bound but providing strong resistance as confirmed by several red triangles on the KRI. We do appear to be forming a bull wedge pattern with $45K as the upper bound. The Kovach OBV has completely leveled off with the ranging. This suggests that we may range further, but if momentum builds, then we can anticipate a breakout to higher levels. We should see some resistance in the $45K-$46K range, but $47.4K is our next target if we are able to break through. We should see support from $43.1K or $41.9K in the event of a retracement.
BITSTAMP:BTCUSDLong
by quantguy
Oil Finds SupportOil has found support at 88.74, and prices did not last in the high 80's for long. We saw an immediate pivot from this level and have solidified the 90's once again, breaking through 90'06, our next technical level, with ease. We should see some ranging from here between 90.06 or 88.74 and highs or our next target of 92.03. The Kovach OBV is still very strong, but we anticipate some further sideways correction before new relative highs. No data suggests any doubt to the overall strength of this bull rally.
NYMEX:CL1!Long
by quantguy
Stocks Testing Resistance Stocks have tested the upper bound of our range at 4580. We anticipated the S&P 500 to hold the range between 4440 and 4580 in yesterday's report. We currently appear to be running into resistance, but there is a vacuum zone above to 4632 if we are able to break through. The Kovach OBV has picked up, but does not seem to match the strength of the rally, so beware of a retracement at current levels. If we do retrace, we have plenty of options for support in the 4500's, with 4440 or 4462 likely candidates for floor prices for now.
FX:SPX500Long
by quantguy
Litecoin Faces Strong ResistanceLitecoin has retraced sharply from highs at $141. We smashed through the first level of support at $134, but have found footing at $130, exactly as we predicted in the reports yesterday. From there, we saw a nice pivot back through the vacuum zone above $134, but are unable to test $141, and likely will not for now. It appears that we are forming a sideways corrective pattern, possibly a triangle continuation. Several red triangles on the KRI are confirming resistance on the way to $141. The Kovach OBV has turned sharply bearish, but does appear to be leveling off as LTC finds footing. If those levels in the $130's are unable to hold, then beware of the vacuum zone to $124. If we are ablet to break $141, then $147 is the next target.
BITSTAMP:LTCUSD
by quantguy
Ethereum Struggles with $3200Ethereum has retraced after rejecting $3200, exactly as we predicted here yesterday. After a sharp rejection at $3200, we were able to find support just above our level at $2965. We are seeing good support at $3K or so as confirmed by green triangles on the KRI. Currently, we are attempting $3200 again, but are facing some resistance just under it, at $3148. The Kovach OBV is almost completely flat, lending skepticism to the bull rally as a whole. If we cannot sustain current levels, the $2K handle is well within reach. After $2965, we should have support at $2852 and $2762. If momentum picks up then $3324 and $3416 are the next targets.
BITSTAMP:ETHUSD
by quantguy