News and Analysis Archives

Market Update: October 6 – All the same market

ByJamie Saettele October 6, 2020

I’m leading with Bitcoin today but it could be more or less anything denominated in USD because it’s ALL THE SAME. Obsess over news if you must but there is one real reason for market moves since late March…the USD. USD up and everything else down. USD down and everything else up. The chart below illustrates this fact. Regarding BTCUSD specifically, VWAP from the high was resistance. A break under the trendline would open up VWAP from the low and 2020 VWAP in the mid-8000s. The Elliot pattern suggests that an important low could form in that vicinity because it’s also the area of the former 4th wave low.

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Market Update: October 5

ByJamie Saettele October 5, 2020

USDOLLAR turned up from the top side of the neckline on Thursday but returned to the neckline today. Failure to turn up now risks a failed breakout, which would be viewed in a bearish light.

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Market Update: October 1 – Important Monthly USD Signal

ByJamie Saettele October 1, 2020

It’s a new month which means we monthly volume signals, which are obviously rare. DX futures made a 2 bar monthly volume reversal. This means that August was a high volume up month and at least a 12 month closing high and September was a high volume down month (go here for more on volume indicators).

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Market Update: September 30

ByJamie Saettele September 30, 2020

Gold traded into proposed resistance at 1908 today and immediately pulled back. I am of the view that price resumes lower from the current level towards the lower parallel near 1750. Failure to stay below today’s low would risk strength into the upper parallel of the bearish channel near 1940.

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Market Update: September 29

ByJamie Saettele September 29, 2020

We looked at DXY yesterday, remember that the neckline is 93.50 and proposed support for that index. USDOLLAR is nearly identical with the neckline near 12040. I’m in the re-test of the breakout level (neckline) and then higher for the USD.

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Market Update: September 28

ByJamie Saettele September 28, 2020

Silver broke the trendline from the March low last week and is bouncing from short term oversold conditions. It would be quite a bounce but the underside of the noted trendline intersects the well-defined 26.10/28 zone late this week.

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Market Update – September 23

ByJamie Saettele September 23, 2020

The Dow completed the short term head and shoulders top so focus is on the mentioned 25853 (then reassess). The bounce over the last 2 days should see resistance from the breakdown level near 27500.

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Market Update: September 22

ByJamie Saettele September 22, 2020

USDOLLAR finally broke above the upper parallel from the Schiff fork off of the March high. The top side of this line should now provide support near 12010. The next upside level of interest is the March low at 12129. This level intersects corrective channel resistance on Wednesday.

News and Analysis

Market Update – September 21

ByJamie Saettele September 21, 2020

The Dow is testing critical support from the June high. This level has been support since 8/20. A break below would complete a head and shoulders top that’s been forming since early June. The measured objective would be 25853.