Hi YXI friends,
Please review today’s chart analysis on ETH, BMNR, FSLR, DUOL, and UNH, plus TSLA’s ML signal (do take a look at its new format).
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DISCLAIMER: This newsletter is intended for educational purposes only. Any information or analysis in this note does not constitute an offer to sell or a solicitation of an offer to buy any securities. Nothing in this note is intended to be investment advice, nor should it be relied upon to make investment decisions. Any opinions, analyses, or probabilities expressed in this note are those of the author as of the note's date of publication and are subject to change without notice.
Table of Contents
S&P 500 (SPY ETF)
I have scripted my Volatility x Trend indicator inside TrendSpider to help you visualise our current trend and volatility through simple colour changes.
The green and blue candles arise when SPY trades above the 50-day MA, with low or high volatility.
The yellow and red candles arise when SPY trades below the 50-day MA, with low or high volatility.
In short, as long as the candles are green, we are in a calmly bullish trend.
1) ETH
Ether is likely in wave c of (c) correction inside the wave circle-iii.
The pullback likely tests the 200-day MA as a minimum, with the potential to test $3200 too.
2) BMNR
BMNR is in a capitulation phase with ETH. It is now testing the lower bound of our wave v of (c) target at $41.
Breaching below $40 could threaten the entire bullish structure. I would personally employ a tight stop (as I have done during the recent pullback).
2.5) Promotion: Crypto ML Signals, Advanced Analytics
Crypto Machine Learning
I run a daily machine-learning model service on Slack for Bitcoin (BTC), Ether (ETH), Solana (SOL), Coinbase (COIN), and Robinhood (HOOD), hosted by Cestrian Capital Research.
Liquidity and Market Analytics
I have also been using advanced crypto analytics for crypto (including alts) on RJ Alpha Dashboard. I am their first official business partner.
3) FSLR
FSLR has reached the minimum wave 3 target of $272, but can easily extend towards $300-330 before a wave 4 retrace.
4) DUOL
I like DUOL’s risk-reward here, as the recent price action appears to be a wave 4 pullback. Wave 5 could target the high $600 next.
However, I would be cautious if it breaks the green support zone, as it signals a trend-reversal Head and Shoulders pattern playing out instead.
5) UNH
UNH is a popular “value” stock on FinX.
The latest rally has only shown 3 waves up, versus 5 waves down in the Dec-Aug crash. UNH has been rejected by the 200-day MA and is now below the 50-day MA too. I would be cautious in catching the knife here.
6) TSLA Machine Learning Signal
I am bringing my TSLA ML signals to TrendSpider for free. The blue line shows the Risk On/Risk Off signals you used to see as 1s or 0s. The yellow line is a rolling 10-day moving average for you to gauge how strong the Risk On / Risk Off regime has been.
Referals
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