Itsallsotiresome

Itsallsotiresome Updated 

This is BTCUSD at the weekly view. Bitcoin may be breaking out of its multiyear wedge that it was trapped in for nearly 8 years. Now, part of this was due to the dollar tanking. However, the on balance volume tells me there is also legit buying. If Bitcoin decisively breaks above the wedge resistance, it can grow some legs and start running again. Need to see...

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Dollar strength at the weekly view. The green lines is the final uptrend support. The blue lines are the long-term supports. I found out that the dollar was shorted by Goldman Sachs back in June and more FOREX traders are shorting the dollar. The dollar tanking like this is great for commodities and equities in the short-term. The inflation increases their...

Itsallsotiresome Updated 

The RTY at the 4 hour view. Tech shares are finally getting corrected by institutions. Thank God. The NQ was seriously overextended and bloated. While tech and biotech will be going ultimately sideways for the rest of the summer, this is a great moment for non-tech sectors to grow from the Distribution Cycle. RTY is filled with non-tech sectors. Investors are...

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Silver futures at the 4 hour view. Silver got a huge boost due to the dollar strength being destroyed. That said, the SLV ETF climbed from the top 200s to the top 16 in most traded ETFs by Robinhood. The typical Robinhooder is a new trader and/or a momentum chaser. When ever you see momentum chasers going for a commodity or a sector, that's how you know the fun...

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NQ at the 4 hour view. The NQ has reached a top since July 13th. July 13th is a key reversal day. It is THE top? I don't know. However, this will likely be the top for the rest of the summer. Institutions are taking advantage of the tech hype and selling tech shares - while new traders and Robinhooders chase the tech hype. Robinhooders got the alert to go long...

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VXN at the 4 hour view. The VXN was stopped due to high liquidity in the markets right now. Unlike the VIX, I do not expect the VXN to reach flag support (dashed green line) any time soon. NQ has reached a top from July 13th. How long will this top last? Most likely for the rest of the summer. Will it be THE top? I don't know. There are so many calls in the NQ...

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VIX at the 4 hour. The VIX finally fought back against the high liquidity. It took a double bottom pattern to fight back. However, the high liquidity levels have solidified the supports on the ES. Therefore, the VIX could not break the wedge resistance (blue line). In fact, it stopped right at the wedge resistance. The VIX was then smacked down by the 200...

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ES at the 4 hour view. The red line is the historical resistance. It stopped the ES back on June 05-09. It stopped the ES again this week. Had it not held, the next resistance would've been 3330 which was the February gap. I was getting a little worried there since the resistance was starting to breakdown. However, it held in the end. I am not confident that...

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Institutions resumed their distribution from the NQ. Biotech and tech shares are being sold, but they are bought out by new traders and Robinhooders. Today, the supply of buyers ran out and institutions kept on selling. The VXN was giving warning about a pullback for a few days ago. It's why I didn't go TQQQ/FNGU yet. What do the institutions do with the cash...

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This is the VXN at the 4 hour view. Okay. I was wrong. I thought the volatility run would be early next week. The VXN tested support early this morning and then found that support. It created a double bottom pattern and started running. It's fighting against the high liquidity. Personally, I am happy that volatility is coming back. Chaos and panic to a group of...

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This is the VIX at the 4 hour view. Okay, I was wrong yesterday. I'm not afraid to admit that I am wrong because I actually have a backbone. I thought that the future volatility run would be early next week. The VIX did a test of support early this morning and found support again at the dashed green line. It created a double bottom and tried to escape from the...

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As I mentioned in my VIX post, liquidity is high. There is so much available cash now that it's drowning volatility runs. It sucks because volatility provides opportunities. Fear provides discounts on stocks and ETFs. Chaos in the market brings more opportunities. Judging by the price action, the VXN is about to test support again. Volatility will most likely be...

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This is the oil futures at the 4 hour view. Oil futures and UCO seem to be more consistent in the last month. I think I see stabilization - finally. Oil was one of my original trades along with volatility. Then Saudi Arabia and Russia decided to try to crush the US oil industry. The point of that is to have the US be reliant on Saudi Arabia or Russia as the oil...

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VIX at the 4 hour. As suspected, the volatility run wasn't that big. Why? Liquidity is strong internally. There is a lot of available cash that would drown volatility as well as permabears' shorts/egos. The VVIX says that volatility can still happen. Almost every daily MA is above the VIX and acting as resistance. That said, the VIX is finding support again...

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This is the NQ at the 4 hour view. Liquidity has increased substantially according to the data. As a result, I had to move my buy zone up accordingly. Institutions have re-entered into the NQ. That's where those big red candles came from. They'll let it run up, then pull the rug. New traders and Robinhooders are hypnotized by the allure of big tech and biotech....

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This is the ES at the 4 hour view. The historical resistance is starting to break down. I'm not too surprised actually. There is a gap above at around 3330 from February that is calling to be filled. Furthermore, liquidity data suggests that liquidity is pretty strong now. So strong that it's drowning volatility runs as well as permabears' pride/egos. This is...

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This is the dollar strength at the weekly view. That dollar had a small bounce right off that uptrend support (green lines). That support was from 2018. If that support fails, then the dollar strength can start plunging pretty fast. The blue lines below are the multi-year supports. Every time each support breaks, it's a pretty big fall below. The 94 region is a...

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This is the DXY or Dollar Strength at the daily view. The dollar is weakening. Those two green line is the last support that I can think of from a multi-year viewpoint. If the dollar breaks that support, equities go up, gold/silver go up, and people are less likely to sell. If cash is this low, then why would you sell your high priced equity for that?