MagicPoopCannon

MagicPoopCannon

I know this may be a shock, but this long-term chart of the dollar suggests that the greenback may be setting up for massive gains in value, over the next 15 years or so. This chart is full of bullish formations. Let's start with the largest of the formations, which is the descending wedge (in black.) You can see that since these futures contracts went live in...

MagicPoopCannon

Hi friends! Welcome to this update analysis on XRP! Let's get it! Looking at the weekly XRP log chart, we can see that XRP has been holding the bottom of this massive rising channel for WEEKS! And just this morning, we started to see a nice pop to the upside, off of the bottom of the channel. While this is a really healthy thing to see, XRP isn't anywhere near out...

MagicPoopCannon Updated 

Hi friends! Welcome to this analysis on the oil market, via the Light Crude Oil Futures weekly chart. Let's get right to it! Looking here on the weekly chart, we can clearly see that oil is in a huge falling wedge formation (in black.) Price is currently being suppressed by a falling trendline resistance level (in blue,) as it converges with the 50 week moving...

MagicPoopCannon

Hi friends! Welcome to this update analysis on Bitcoin! Let's get right to it! Looking at the weekly BTC chart, you can see that we've been consolidating for around three months now, as price has chopped around inside of this triangle formation. There has been a lot of speculation among analysts in the community, with regards to which direction this pattern could...

MagicPoopCannon Updated 

Hi friends! Welcome to this update analysis on Gold, via the GC futures chart. Let's get to it! In this analysis, we're going to step back and take a multi-decade view of the gold market, to try to understand what's currently happening, and where we may be going. As you can see, this weekly chart begins in 1975. So, we're looking at 44 years of data. Clearly, we...

MagicPoopCannon

Hi friends! Welcome to this update analysis on Ethereum! Let's get right to it! Looking at the weekly ETH chart, you can see that ETH remains in an overall long-term uptrend. Since it's inception, ETH has printed nothing but higher highs and higher lows. So, from a technical standpoint, it remains in a long-term uptrend. However, looking at the broad chart, we...

MagicPoopCannon Updated 

Not much has changed with XRP. It's still grinding along the bottom of this massive uptrend channel. The question is, will it hold the channel and enter a new bull market, or will we see a breakdown to lower prices? Historically, if we look from the left side of the chart to the right, we can see that this channel is very significant. Personally, I think XRP is...

MagicPoopCannon Updated 

Hi friends! Welcome to this update analysis on XRP! So, I want to bring your attention to something that I've noticed, with regards to the ADX and DI indicator, and the RSI here on the weekly XRP chart. Starting with the ADX and DI, you can see that I have four pink vertical trendlines on the chart. Those trendlines correspond to unique events that occurred on the...

MagicPoopCannon

Hi friends! Welcome to this update analysis on Bitcoin! Let's get right to it! Looking at the daily chart, you can see that I still have the exact arrows on the chart that I published when BTC was trading near the blue circle. At the time, I showed how the NVT had printed a bullish crossover and that BTC was poised for a rally. I also thought that BTC would fall...

MagicPoopCannon

Hi friends! Welcome to this update analysis on my personal recession indicator! I've shared it with you before, and now we're going to take an updated look at what is happening with the initial claims/S&P comparison. let's get right to it! If you recall from my previous analyses on this indicator, I showed how accurately my moving averages have corresponded to...

MagicPoopCannon

Hi friends! Welcome to this update analysis on the S&P 500, via the weekly Emini futures contract! Let's get to it! Recession, recession, recession. All I ever hear about right now is "recession." While there are definitely some economic headwinds right now (trade tensions, yield curve inversions, over levered corporate debt, international economic problems) I...

MagicPoopCannon

People love to bash the XRP chart. XRP haters love to say it's "the worst performing crypto asset" — which, in 2017 it was actually the best performing crypto asset, so that's false. Among other usually false things, they point to the fact that XRP remains in a bear market, while BTC and many others have enjoyed powerful gains. Well, I'm here to show you that,...

MagicPoopCannon Updated 

Hi friends! Welcome to this update analysis on Bitcoin! Let's get right to it! Looking at the daily BTC chart, you can see that BTC has moved exactly as I projected in the last analysis, both on the upside and the downside. The arrows are still on the chart from that analysis, and you can see that it's a perfect match for how price moved. That's actually true for...

MagicPoopCannon

Whether you realize it or not, we are on the cusp of the greatest financial crisis the modern world has ever known — and it all revolves around debt. Practically every nation in the world is in debt, but it's far worse than most people realize. You know that $22 trillion dollar US debt number that everyone always talks about? Well, that's only the government's...

MagicPoopCannon

Hi friends! Welcome to this analysis on the T-Bond futures contracts! Let's get right to it! Looking at the weekly T-Bonds, we can see that price has been exploding to the upside. However, T-Bonds are waaaaaay overbought right now. In fact, we are in record high RSI territory on the weekly chart. So, what does that tell us? Well, if we look at the last few times...

MagicPoopCannon

Hi friends! Welcome to this update analysis on XRP! Let's get right to it! Looking at the daily XRP chart, there are several key things that the bulls need to keep an eye on. First, we can see that a death cross is happening today, as the 50 MA (in orange) prepares to cross below the 200 MA (in purple.) The death cross is a bearish indicator, that shows that the...

MagicPoopCannon Updated 

Hi friends! Welcome to this update analysis on Gold, via the gold futures contract! Let's get right to it! Looking at the weekly GC chart, we can see that gold has sustained a powerful rally into the 1550 level. I've been projecting this move for a while, and I knew it would happen even when gold was down around 1200. If you recall from the analysis that I posted...

MagicPoopCannon

Hi friends! Welcome to this update analysis on XRP! As you all know, everyone had mixed emotions about my last XRP analysis, which illustrated how there is a technical path for price to rise north of $200, based on a possible rally off the bottom of a massive uptrend channel, which could happen later this year. The majority of the comments that expressed...