BTCUSD is breaking below the daily Ichimoku cloud (standard settings). BTCUSD – click for big This indicates a bearish trend confirmation from the bearish TK cross on June 14. BTCUSD has crossed the cloud barrier six times in the past 12 months. Four of those six signals led to significant moves. This move sets BTC up for hitting targets $8800, …
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Jay Powell has been a generous God. Count your blessings under his reign. Powell’s policies of spending your future tax dollars to protect the banking system have created a historic windfall for those closest to the Fed machinery. I highly recommend that you read up on the Cantillon Effect. It’s been a hot topic lately for good reason. Brief update …
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Very few things make sense in 2020. With Seattle’s CHOP zone, the now iconic St Louis gun toting couple and the destruction of statues coast to coast it seems Fight Club’s Project Mayhem has become the norm rather than the exception. Seattle CHOP St Louis Ripping down statues in USA I am reminded of this final scene in Fight Club …
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The SP500, aka the SPY, has been on a tear since the low of $2,200 on March 23rd. To the disbelief of many, the market has been on a V shaped recovery so far. As I am a primarily a trend trader and use the Ichimoku Cloud as my primary technical trend indicator I noticed today that the SPY had …
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Tesla stock is resembling SpaceX as it rockets into space day after day. Up 10% on Friday followed by 13% today. But I have some sobering news. The return to Earth is near. Betting against Tesla has been a bad idea for years, but I have reasons to write this now. There are predictable cycles in markets. Tesla exuberance has …
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Brief but important update. My most reliable tool for buy/sell signals on BSV is approaching a BUY signal. The Mayer Multiple tracks the daily closing price vs the 200 daily moving average. Historically when the MM indicator is below .7 BSV has been at a market bottom. I’ve written about the Mayer Multiple in these previous posts: Mayer MultipleMarket UpdateBitcoin …
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Jesse Livermore, the legendary early 20th century stock trader, is the single greatest influence on my trading mindset. If you have not read “Reminiscences of a Stock Operator” and/or “The Boy Plunger” I recommend you buy and read them immediately. These books about Jesse Livermore’s life are entertaining and highly educational for everyone, trader or not. One of the best …
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Coinspeak Technical and Fundamental Market Analysis