- It’s a bull trap! 3 key metrics forecast Bitcoin price rejection at $11K Click Here
- IMPORTANT -- Saturn goes direct on Sep 29th. See charts below of what happened the last 8 times this occurred.
- Lots of chatter on the internet concerning a second virus which is somehow linked to 5G. Is there a 5G tower near you? Click Here
- The Gann 20/60 chart shows stocks about to fall off the cliff. Chart is available in the subscriber section.
- A Bitcoin cycle buy and sell signals has rolled-up a profit of 10186.08% over the last five years. See charts below. Get signals for the next year at Click Here
- NOAA predicting rough space weather latter in the month. This is usually bad for stocks. People get confused and doubt their judgement. See table below.
- William Stickevers talks about the coming war with China Click Here
- Sept is going to be a Bearish month for stocks, and other things. The latter part of the month looks the worse.
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For trading 9/21/2020
INO Evening Markets Report (INO.COM)
The Dow closed lower on Friday as it extends the trading range of the past two-weeks. Today's decline was triggered by heavy selling pressure, led by declines in large-capitalization technology-related companies. The low-range close sets the stage for a steady to lower opening when Monday'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 the Dow renews the decline off September's high, the 25% retracement level of the March-September-rally crossing at 26,464.30 is the next downside target. Close above Wednesday's high crossing at 28,364.77 would temper the near-term bearish outlook. First resistance is September's high crossing at 29,199.35. Second resistance is February's high crossing at 29,568.57. First support is the 50-day moving average crossing at 27,471.39. Second support is the 25% retracement level of the March-September-rally crossing at 26,464.30.
October gold closed higher on Friday as it extends the trading range of the past six-weeks. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Tuesday's low crossing at $1904.60 would open the door for a possible test of the 25% retracement level of the 2018-2020-rally crossing at $1882.10. If October resumes the rally off August's low, August's high crossing at $2078.00 is the next upside target. First resistance is the August 18th high crossing at $2016.60. Second resistance is August's high crossing at $2078.00. First support is the 25% retracement level of the 2018-2020-rally crossing at $1882.10. Second support is the 38% retracement level of the 2018-2020-rally crossing at $1775.80.
December silver closed lower on Friday as it extends the August-September trading range. The low-range close sets the stage for a steady to lower opening when Monday'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 rally off June's low, the 50% retracement level of the 2011-2020 decline on the weekly continuation chart crossing at 30.727 is the next upside target. Closes below last-Tuesday's low crossing at 25.985 would confirm that a short-term top has been posted. First resistance is August's high crossing at 30.190. Second resistance is the 50% retracement level of the 2011-2020 decline on the weekly continuation chart crossing at 30.727. First support is last-Tuesday's low crossing at 25.985. Second support is the 50-day moving average crossing at 25.619.
October crude oil closed slightly lower on Friday as consolidates some of the rally off last-Tuesday's low. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $41.28 would signal that a short-term low has been posted. If October renews this month's decline, the June 12th low crossing at $35.25 is the next downside target. First resistance is the 50-day moving average crossing at $41.28. Second resistance is August's high crossing at $43.78. First support is last-Tuesday's low crossing at $36.13. Second support is the June 12th low crossing at $35.25.
October Henry natural gas closed higher on Friday as it consolidated some of this month's decline. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends this month's decline, the July 20th low crossing at 1.768 is the next downside target. Closes above the 20-day moving average crossing at 2.431 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 2.286. Second resistance is the 20-day moving average crossing at 2.431. Third resistance is August's high crossing at 2.743. First support is today's low crossing at 1.926. Second support is the July 20st low crossing at 1.768.
The December Dollar closed slightly higher on Friday while extending the July-September trading range. The high-range close sets the stage for a steady to slightly higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. If December renews this year's decline, long-term support on the monthly continuation chart crossing at 90.21 is the next downside target. Closes above the August 3rd high crossing at 93.92 are needed to confirm that a short-term low has been posted. First resistance is the August 3rd high crossing at 93.92. Second resistance is the 25% retracement level of the March-September-decline crossing at 94.72. First support is September's low crossing at 91.75. Second support is long-term support on the monthly continuation chart crossing at 90.21.
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.
- "We Have Our Options": Pelosi Doesn't Rule Out Impeachment Over Supreme Court Pick
"We have arrows in our quiver that I'm not about to discuss right now." Click Here
- Portland Neighbors Frustrated After Police Take 90 Minutes Responding To Hostage Situation Involving 12-Year-Old
"No units avail..." Click Here
- Global Debt Is Exploding At A Shocking Rate
The latest BIS data shows that global leverage rose 11% in Q1 '20, the largest quarterly jump on record. Click Here
- ARK Funds Added More Tesla This Month As Cathie Wood Was "Happy" To See Shares "Get Slapped"
“Nothing has changed in our models except to the upside.” Click Here
- US Believes Iran Likely To Have Enough Fissile Material For Nuclear Bomb By Year's End
Same 'anonymous officials say'... different election year. Click Here
- California Judge Strikes Down Trump's WeChat Ban Over First Amendment Concerns
The judge ruled that while "certainly the government's overarching national-security interest is significant...[the administration has] put in scant little evidence that its effective ban of WeChat for all U.S. users addresses those concerns." Click Here
- French COVID-19 Outbreak Accelerates At Record Pace; Yangon Locked Down As Cases Surge: Live Updates
UK Health Secretary Matt Hancock said the UK has reached a "tipping point" where the country will soon take action to curb a resurgence in new cases... Click Here
- Nuclear Scenario For Markets Emerges In 'Jaw-Dropping' SCOTUS/Election Plot-Twist
A contested election AND a deadlocked 4-4 SCOTUS... Click Here
- Dozens Of US Tanker Trucks Filled With Oil Leave Syria For Iraq
Syrian official media charges that US occupation has begun transferring stolen oil abroad... Click Here
- MSM Welcomes "Whistleblowers" Reporting Partying College Students Breaking COVID Rules
Some schools even pay 'deputized' students to enforce social distancing on campus... Click Here
- Iran's Rouhani Vows "Crushing Response" After Pompeo Declares Restoration Of All Sanctions
Iran's leader mocks what's turned into “America’s maximum isolation”... Click Here
- "Not There Yet" - The Correction Continues
... we have yet to see the kind of emotional flush/liquidation that is typically associated with good intermediate lows. Click Here
- Trump 'Blesses' Deal Valuing TikTok At $60 Billion As ByteDance Keeps 'Secret Sauce'
That would be an "interesting win", as one Twitter user points out - though Bloomberg says nothing is set in stone yet. Click Here
|275||78||New 52-week Highs|
|366||260||Strong Volume Gainers|
|42||-4||Bullish 50/200-day MA Crossovers|
|230||-22||Bullish MACD Crossovers|
|5||1||Oversold with an Improving RSI|
|284||48||Moved Above Upper Bollinger Band|
|279||60||Moved Above Upper Price Channel|
|159||17||Moved Above Upper Keltner Channel|
|138||-22||Improving Chaikin Money Flow|
|345||104||New CCI Buy Signals|
|352||52||Parabolic SAR Buy Signals|
|134||33||Stocks in a New Uptrend (Aroon)|
|75||-17||Stocks in a New Uptrend (ADX)|
|1||-1||Breakaway Gap Ups|
|22||2||Runaway Gap Ups|
|63||26||New 52-week Lows|
|372||291||Strong Volume Decliners|
|12||0||Bearish 50/200-day MA Crossovers|
|186||93||Bearish MACD Crossovers|
|29||2||Overbought with a Declining RSI|
|294||151||Moved Below Lower Bollinger Band|
|382||164||Moved Below Lower Price Channel|
|144||41||Moved Below Lower Keltner Channel|
|291||142||Declining Chaikin Money Flow|
|520||6||New CCI Sell Signals|
|370||126||Parabolic SAR Sell Signals|
|193||15||Stocks in a New Downtrend (Aroon)|
|56||-4||Stocks in a New Downtrend (ADX)|
|2||1||Breakaway Gap Downs|
|1/7/1900||-20||Runaway Gap Downs|
|3||-1||Three White Soldiers|
|29||25||Dark Cloud Cover|
|13||8||Three Black Crows|
|1890||9||P&F Double Top Breakout|
|231||1||P&F Triple Top Breakout|
|29||-1||P&F Spread Triple Top Breakout|
|545||29||P&F Ascending Triple Top Breakout|
|27||1||P&F Quadruple Top Breakout|
|66||-5||P&F Bearish Signal Reversal|
|50||-5||P&F Bear Trap|
|20||3||P&F Bullish Catapult|
|57||-3||P&F Bullish Triangle|
|477||15||P&F Low Pole|
|1845||95||P&F Double Bottom Breakout|
|277||22||P&F Triple Bottom Breakdown|
|35||1||P&F Spread Triple Bottom Breakdown|
|489||49||P&F Descending Triple Bottom Breakdown|
|35||3||P&F Quadruple Bottom Breakdown|
|77||1||P&F Bullish Signal Reversal|
|60||-2||P&F Bull Trap|
|22||4||P&F Bearish Catapult|
|45||-8||P&F Bearish Triangle|
|625||17||P&F High Pole|
|42||6||P&F Long Tail Down|
The following indicate a reversal is likely to occur.
- [DR] -- Double Reversal
- [TR] -- Triple Reversal
- [QR] -- Quadrupal Reversal
- [CIR] -- Cyclical Inverse Reversal
- [O] or a Yellow Circle -- Over Extended Indicator
Last Week's Matrix
Learn More: Previous Weekly Matrix with explanation.