Ghost Squawk Blog

Stocks Ranging

Stocks are currently in a small uptrend, but will face resistance from 3460. The Kovach OBV is still very bearish, though it has tapered up ever so gently to reflect the lift in stocks. Unless we see some serious momentum here, stocks are likely to continue to range. The S&P will face some serious resistance at 3500, a technical and [...]

Bitcoin is Back!

Bitcoin has broken out yet again. It is definitely back in bull mode because it has reached the price targets established by our Fibonacci extension levels. Additionally, it appears to be forming a 'dragon head' pattern, a pattern we teach in our courses. This is a very bullish pattern, characterized by extreme growth, followed by some volatility after a pullback. [...]

Bull Wedge in Oil

Oil peaked up past the 41.29 level for a brief moment, before returning back to the range it has been holding all week. Oil has been making higher highs and lower lows, a tell-tale sign of a bull rally. Also the Kovach OBV has been quite bullish . However, it is having trouble breaking higher levels. the 41.69 proved quite [...]

Bitcoin Breaks out After Fed Nod

Bitcoin broke out rather significantly yesterday, off news that Jerome Powell, the Federal reserve chair, mentioned that the Fed is looking into a 'digital dollar'. This came as an extreme surprise to many, and yet another conformation that cryptos are here to stay. We have been skeptical of bitcoin since it crashed in 2018. Low liquidity and the pervasive volatility [...]

Bull Wedge in Gold

Gold has tested 1917 a third time. It's been making higher highs, suggesting that it may be trying to form a bull wedge. It may try to test 1905 again before breaking out, but it is looking like its coiling up for a breakout. If not, expect momentum around 1917 at the open. Gold will face resistance at 1925 and [...]

What Retail Sales Mean for Stocks

Stocks caught a lift at the 0.500 Fibonacci exactly as we said they would. Hopefully some of you took advantage of this trade. Currently, they are facing resistance by a collection of levels aroudn the 0.786 Fibonacci level near the technically and psychologically significant 3500 level. This is likely to continue to provide resistance so watch for a small rejection [...]

Stocks Retrace

As anticipated, stocks retraced to the .500 Fibonacci level! This is something we have been calling out in the daily briefings for two days now. We need to keep our eye on Ghostsquawk AI to determine if the risk sentiment is risk on or risk off today. This is a make-or-break level for stocks. If they catch support here, we [...]

Stonks Facing Resistance

Stocks have wavered the past two days, potentially giving us the corrective phase we were anticipating. The Kovach OBV was very meager throughout this rally. It has declined precipitously starting at the beginning of that little corrective phase. The technical and psychological level of 3500 will provide support, but we still anticipate a bigger dip before any serious bull momentum [...]

Dollar Faces Headwinds

The US dollar is again hanging out at lows, however it gradually seems to be picking up steam. It is really trying to contend with 93.20. It has breached this level multiple times, but can't seem to build the steam to catch a breakout. If it does, 93.31, will be the next level of resistance, which is an intersection of [...]

Stocks Likely to Range

The S&P keeps sailing up to higher highs. We are currently encountering some areas of resistance beginning at 3484. This rally does not seem to strong compared with the Kovach OBV. Thus it is likely to see a pullback really soon. We have about another 100 points before we will see new highs, and there are plenty of levels of [...]

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