UNDERSTANDING THE CYCLE CHARTS
Instruction for reading the cycle charts and indicators. Click Here
Ideally, you want to look for a turn in the cycles and at least two of more reversal signals happening at the same time.
- Here’s what traders expect after Bitcoin price rallied to $13,217 Click Here
- Pomp says US digital dollar needs to happen now Click Here
- PayPal to soon be including crypto assets Click Here
- Pro traders added to shorts as Bitcoin price broke $12K, data shows Click Here
- William Stickevers talks about the coming war with China Click Here
- The last four Bitcoin trades using the 5-day cycle: 2.62%, -1.18%, 8.92%, 2.75% Get your buy and sell signals here Click Here
- Bitcoin’s brief trip to $13.2K suggests profit-taking price correction Click Here
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For trading 10/23/2020
INO Evening Markets Report (INO.COM)
The Dow closed higher on Thursday due to gains in JP-Morgan Chase and Boeing stocks. Additional support came from news that Speaker of the House, Nancy Pelosi raised hopes for coronavirus relief package. Signs of an improving labor market came from the weekly jobless claims data that showed 787,000 people filed for unemployment benefits in the week of Oct. 17, which was lower than the 875,000 analysts expected but still historically high. Jobless claims fell to 8.3 million, versus the 9.6 million expected. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices remain possible near-term. Closes below the 50-day moving average crossing at 28,012.72 would signal that a short-term top has been posted. If the Dow renews the rally off September's low, September's high crossing at 29,199.35 is the next upside target. First resistance is October's high crossing at 28,957.90. Second resistance is September's high crossing at 29,199.35. First support is the 50-day moving average crossing at 28,012.72. Second support is the 25% retracement level of the March-September-rally crossing at 26,464.30.
December gold closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off August's high, the 38% retracement level of the March-August-rally crossing at $1771.40 is the next downside target. Closes above the 50-day moving average crossing at $1930.30 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at $1930.30. Second resistance is the September 16th high crossing at $1983.80. First support is the reaction low crossing at $1877.10. Second support is the September 24th low crossing at $1851.00.
December silver closed lower on Thursday. The mid-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off September's low, the 50-day moving average crossing at 25.817 is the next upside target. Closes below October's low crossing at 22.965 would confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 25.817. Second resistance is the September 15th high crossing at 27.865. First support is October's low crossing at 22.965. Second support is September's low crossing at 21.810.
November crude oil closed higher on Thursday due to signs of economic recovery and progress on a U.S. aid package. The high-range close sets the stage for a steady to higher opening when Friday's night session begins. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the September 18th high crossing at $41.72 would open the door for additional gains near-term. Closes below the October 12th low crossing at $39.04 would confirm that a short-term top has been posted. First resistance is the September 18th high crossing at $41.72. Second resistance is August's high crossing at $43.78. First support is the October 12th low crossing at $39.04. Second support is September's low crossing at $36.58.
November Henry natural gas closed lower due to profit taking on Thursday as it consolidated some of this week's gains. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If November extends the rally off October's low, monthly resistance marked by the May-2016 high crossing at 3.177 is the next upside target. Closes below the 20-day moving average crossing at 2.708 would confirm that a short-term top has been posted. First resistance is today's high crossing at 3.066. Second resistance is the May-2016 high crossing at 3.177. First support is the 20-day moving average crossing at 2.825. Second support is the 20-day moving average crossing at 2.708.
The December Dollar posted an inside day with a higher close on Thursday as it consolidated some of this week's losses. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are oversold, diverging but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off September's high, September's low crossing at 91.75 is the next downside target. Closes above the 20-day moving average crossing at 93.59 would signal that a short-term low has been posted. First resistance is the 25% retracement level of the March-September-decline crossing at 94.72. Second resistance is the 38% retracement level of the March-September-decline crossing at 96.33. First support is Wednesday's low crossing at 92.46. Second support is September's low crossing at 91.75.
Things To Watch
- Bo Polny says DJIA will drop to 15,000.
- Charles Nenner is calling for a DJIA of $5000 in the latter part of 2021 or spring of 2022.
- Mars will be in Aries from June 27th 2020 to Jan 6th 2021. Strong chance of open conflict
- Charles Nenner expects a return of the virus in Oct. It should be much worse this time. Perhaps it will be a new virus.
- Senate Demands Hunter Biden Turn Over Bank Records Wire Transfers Account Balances And Travel Records
"Related to business in Romania, China, Russia, Kazakhstan, Ukraine, Czech Republic, or any other countries..." Click Here
- Armenia Launches Ballistic Missiles On Azerbaijan Amid Retreat In Nagorno-Karabakh Region
Meanwhile, Turkey’s Vice President Fuat Oktay repeated an earlier claim of the Turkish leadership that his country is ready to openly send its forces to support Azerbaijan if needed. Click Here
- Huawei "Outhustles Trump" By Successfully Stockpiling Enough Chips For 5G Rollout
Took advantage of tight window to stockpile millions of units... Click Here
- China Blasts US As "Empire Of Hacking" After Damning NSA Report Spotlights Beijing
"How ironic that the main actor in PRISM and the largest cybertheft agency in the world is criticizing others for cybertheft." Click Here
- Why Crude-Tanker Collapse Could Be Long And Painful
The massive floating storage volumes that built up earlier this year are unloading. But very, very slowly. In aggregate, they’re dripping out. Meanwhile, oil demand is growing, but again, very slowly. Incremental oil demand is a trickle, not a flood. Click Here
- How Total Spend by U.S. Advertisers Has Changed, Over 20 Years
Much of the top 10 biggest advertising spenders are in the telecommunications industry, but it is retail giant Amazon that tops the list with an advertising spend of almost $7 billion. Click Here
- Iran To Import North Korean Missiles In 25-Year Military Deal With China
...this military component may now also feature the deployment in Iran of North Korean weaponry and technology, in exchange for oil... Click Here
- In Shock Presser, Hunter's Ex-Biz Partner Speaks; Says Turning Over "All Evidence To FBI"
And what's this about a $5 million Chinese loan? Click Here
- Walmart's Redesigned Airport-Style Stores Will Track Everyone
What have corporations learned from the post 9/11 era? Apparently a lot... Click Here
- Russia Gives Edward Snowden Permanent Residency & 'Path To Citizenship'
His lawyer expressly denied that Snowden would ultimately pursue citizenship. Click Here
- There Are Decades When Nothing Happens, And Weeks Where Decades Happen
The ongoing economic transformation serves to make many assets obsolete and to devalue the debt held against those assets... Click Here
- FDA Approves Gilead's Remdesivir To Treat COVID-19 Despite Data Showing Drug Doesn't Work
The FDA first granted the drug emergency authorization in May, allowing hospitals and doctors to use the drug even though by all accounts it wasn't that widely used. Click Here
- "Bias, Hatred, & Rudeness" - Trump Posts Full Raw '60 Minutes' Interview, Then Posts Pence's
"Look at the bias, hatred and rudeness on behalf of 60 Minutes and CBS." Click Here
|191||-32||New 52-week Highs|
|151||-28||Strong Volume Gainers|
|29||6||Bullish 50/200-day MA Crossovers|
|140||-3||Bullish MACD Crossovers|
|12||6||Oversold with an Improving RSI|
|315||87||Moved Above Upper Bollinger Band|
|527||231||Moved Above Upper Price Channel|
|327||146||Moved Above Upper Keltner Channel|
|229||53||Improving Chaikin Money Flow|
|462||78||New CCI Buy Signals|
|312||91||Parabolic SAR Buy Signals|
|350||106||Stocks in a New Uptrend (Aroon)|
|87||25||Stocks in a New Uptrend (ADX)|
|7||1||Breakaway Gap Ups|
|17||-8||Runaway Gap Ups|
|45||-4||New 52-week Lows|
|80||0||Strong Volume Decliners|
|23||3||Bearish 50/200-day MA Crossovers|
|360||-211||Bearish MACD Crossovers|
|26||-23||Overbought with a Declining RSI|
|195||-30||Moved Below Lower Bollinger Band|
|174||-72||Moved Below Lower Price Channel|
|119||4||Moved Below Lower Keltner Channel|
|96||-18||Declining Chaikin Money Flow|
|392||-32||New CCI Sell Signals|
|574||-170||Parabolic SAR Sell Signals|
|141||-38||Stocks in a New Downtrend (Aroon)|
|55||6||Stocks in a New Downtrend (ADX)|
|4||1||Breakaway Gap Downs|
|1/13/1900||1||Runaway Gap Downs|
|4||1||Three White Soldiers|
|6||-7||Dark Cloud Cover|
|10||-24||Three Black Crows|
|1847||21||P&F Double Top Breakout|
|212||-7||P&F Triple Top Breakout|
|28||0||P&F Spread Triple Top Breakout|
|549||-12||P&F Ascending Triple Top Breakout|
|20||-4||P&F Quadruple Top Breakout|
|59||3||P&F Bearish Signal Reversal|
|51||-3||P&F Bear Trap|
|18||-5||P&F Bullish Catapult|
|44||7||P&F Bullish Triangle|
|498||-33||P&F Low Pole|
|1688||63||P&F Double Bottom Breakout|
|231||11||P&F Triple Bottom Breakdown|
|32||2||P&F Spread Triple Bottom Breakdown|
|454||24||P&F Descending Triple Bottom Breakdown|
|29||2||P&F Quadruple Bottom Breakdown|
|72||6||P&F Bullish Signal Reversal|
|63||3||P&F Bull Trap|
|17||1||P&F Bearish Catapult|
|46||2||P&F Bearish Triangle|
|486||0||P&F High Pole|
|36||-1||P&F Long Tail Down|
Last Week's Matrix
Learn More: Previous Weekly Matrix with explanation.