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Showing posts with the label envelope

Crypto Market Barometer released on advance-decline.net

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  Crypto Market Barometer released Today I published my simple but easy-to-read Crypto Market Barometer on our website https://www.advance-decline.net. Click here to get to the new Crypto Market Barometer. This is how the main chart looks like: What's behind the new Crypto Market Barometer We believe that one simple but effective method of gauging the health of a market is to look at how many of the most important individual assets trade above their important SMAs. Since SMAs are a proven way of determining the current trend, a market must be in an uptrend, if more than 50% of its biggest assets trade above their long-term SMAs. If they trade below their long-term SMAs, they must be in a downtrend. For the crypto market, I decided to check the popular BitPanda Crypto Index BCI10. It contains the 10 biggest crypto currencies by market capitalization, and frankly, by only looking at BitCoin, Ethereum, Polkadot and maybe Binance, we already have most of the market covered (again, in

State of Dow Jones - Calendar Week 42 2021

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Hi folks! Welcome to another part of the blog post series State of Dow Jones for Calendar Week 42 2021 Part three already. This week has been incredible for those that invested into the Dow Jones. But how healthy is the current price development and what's the outlook?   Technical Chart for Dow Jones Every "State of Dow Jones" blog post should start with the technical chart, so here we go (created on tradingview.com):   The Dow Jones managed to trade above its SMA 20 and also overcame the turquoise trendline / flag which happened to be at the 35 000 resistance level, which became a support shortly afterwards. The index only knew one direction during this week - upwards. The current price movement stopped a few points above the old all-time high and within the upper Envelope band. On the daily time frame, the index now looks slightly overheated. For now, the old all-time high around 35 631 holds, but it wouldn't be a big surprise if there was a small pull-back before t

State of DAX - Calendar Week 42

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State of DAX for Calendar Week 42 Welcome to another episode of the blog post series "State of DAX". It is October the 23th and we've only 5 trading days left in October. So far this month has brought us a small turn around because it seems like the small correction has found an end. But how healthy is the current development and what's the short-term outlook? Technical Chart for DAX As usual, we'll start with the technical chart for DAX, created on tradingview.com: The index has been trading sideways within a range of 1000 points since April this year. On October the 15th, the DAX managed to break through the trendline/flag and also climbed above the important level of 15 500. Also, the SMA 200 still acts as a comfortable level of support and the index is expected to stay above this line. Let's zoom into the chart: The index climbed above the SMA 20 and tested it on the same day (14th October), which was a good confirmation of the short-term price movement. A

State of Dow Jones - Calendar Week 41 2021

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State of Dow Jones - Calendar Week 41 2021 Welcome to the second episode of the blog post series "State of Dow Jones", where we look at the leading US stock index from different perspectives and try to determine how solid the current development is. Technical Chart for Dow Jones Every "State of Dow Jones" blog post should start with the technical chart, so here we go (created on tradingview.com): The Dow Jones overcame the old falling highs and the important resistance at 25 000, now trading at 35 294 points. The index is trading above its SMA 20 again and even went into the upper Envelope band. This means the Dow is slightly overheated and it is likely that the index will show a small pull-back before rising again. The RSI is at 60, three trendlines were identified and crossed during the last trading days. The technical chart provides us with enough confidence to say that the correction might be over and the outlook is neutral, or maybe even slightly bullish. Marke

State of DAX - Calender Week 40

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Welcome to another episode of the blog post series State of DAX for Calender Week 40 October (or is it UPTOBER!11 ?) has already seen six trading days. The DAX went through difficult times during the last weeks, so it will be really interesting to determine the current state of the German leading stock index. Technical Chart for DAX Total gains/losses for DAX in October so far: ~ + 0,3% (XETRA) Here is the current technical chart for DAX, created on tradingview.com: This chart shows that the index has been moving between the wide range of 14 800 and 16 000 points since March. The all-time high was accomplished on Aug 13, and since then, the DAX has only know one direction - downwards. We've seen a number of falling highs, which means that we are inside of a correction. If this correction stays a healthy correction or becomes something worse, is not yet decided. On Oct 06, the lowest low since May was reached and the DAX has made some minor attempts to recover. The SMA 200 with a to