benjihyam

benjihyam

If we look at the chart of XRP, you can see that since the move in fall of 2024, we've had a massive lack of balance on the chart. We ran up quickly without testing any levels as support. That makes me think we're going to see the lack of balance get corrected and the same move is now going to happen in the opposite direction. The $1.04-1.20 region looks like a...

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AMEX:GLD looks a bit extended here. I could see the possibility of GLD falling back to the $260 support at a minimum and maximum all the way down to $148 The $209 support would be the 50% retracement of the recent run. I like that as a level for a bounce. Let's see where we end up.

benjihyam

~$122.5k was the top of the range. Now we'll need to go test the lows before we can continue higher. Alts are clearly not confirming a trend change . Many still bearish on HTFs (including ETH), I think the reason is because Bitcoin goes lower before we see a continued run and that will drag down alts with it. I think people holding alts here with hopes for new...

benjihyam

While I was early to the idea (like usual), still don't think the thesis will be wrong. I still believe we're going to see a large move down from here. Yesterday's price action made me pretty confident a top was in (TBD). We had positive news and the market couldn't rally on that positive news and we ended up closing at the lows -- indicating to me there's no...

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If we look at the chart of TLT, you can see that we're forming a bottoming reversal pattern. We had a spike low down to $83 back to the middle of May and have now reclaimed the structure. I think that move marked the bottom. I think it's very likely that bonds spike in the near future, if they can make it over the $92 resistance level, then I think price will...

benjihyam

Fart coin looks like shit. Looks to me like the gas has run out of this trade. If we look at the chart, we can see that price has rejected resistance here and Heikin Ashi candles starting to show the bearish trend starting. On top of that you have a massive head and shoulders top forming, which would be confirmed under $.88. I think it's likely that we see the...

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NVDA has now topped, you can see that we've just formed another high time frame lower high and the rejection up here has the potential to create a strong bearish move. I think it's very likely that the bearish move will take us all the way down to the bottom support before it's completed. The bounce from the bottom went higher than I initially thought it would...

benjihyam

I know many people are calling for the decline of the dollar and to invest in Europe, but the chart shows a different picture. The chart shows that the dollar has bottomed against the Euro and looks set to make a run at the highs. I think over the coming months/years, the dollar will go back above par against the Euro and will likely outperform the Euro for the...

benjihyam

Despite price rallying of the March lows and almost making new highs, price rejected at the top of the range and formed a lower high which sets up the potential for a large bearish move. I think it's likely that from here, that we at least go and test the support in the $.62 range, but I have a feeling that breaks and that we go and test the lower supports before...

benjihyam

All of crypto is about to fall significantly, most people just don't realize it yet. Many alts will fall 50%+, and coins like SUI and XRP that people feel safe in, won't escape the bearish move. Just looking at the chart, we can see that SUI broke upwards in August of last year and topped in January, and has since retested resistance at $4.05 and rejected--...

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We've seen an incredibly large rally in stocks, which has taken UVXY lower than I expected, but as long as we bounce at support here, the idea is still valid. The support on the chart is retesting the move that we broke out from end of March. There was a lack of balance on the chart as we saw a 130% move over a 5 day period. So we're going back to retest that...

benjihyam Updated 

TVC:VIX looks to be bottoming here and I think the next move higher is going to be the big one I've been waiting for. We did well last month catching that move into April 7th via UVXY calls. I started buying calls again April 24th for 5/30 - 6/20 and have continued buying as VIX has declined. Now the chart is finally looking like it's bottoming and I'm...

benjihyam

QQQ has been consolidating in a massive rising wedge and looks set to break down from it. Unless price can get back above previous highs, then new lows is the most likely outcome here. I've marked off support levels on the downside that might be good opportunities to scale in on the long side. Let's see how low we go.

benjihyam

Most people are thinking that we'll see a correction that goes back to the $560 area and then from there, we'll go to new highs. They also don't think it's likely that we'll retest the lows from April and think it's nearly impossible that we'll break the lows. However, my base case is that we will break the lows. Yes, in the past, most dips like the one in April...

benjihyam

After the last fall, I thought that we'd see a more significant bounce, however the lack of follow through on any bounce attempt has me now looking for more downside. I think it's very likely that UNH continues lower here and falls to one of the lower support levels. I think the two lower supports are the most likely levels for a good long-term buy. Let's see...

benjihyam

NASDAQ:AAPL doesn't look that great here. The rejection of $212.58 a couple weeks back left us with a double top at the highs. Unless we can retake that level, I think more downside is likely. I've marked off key support areas on the way down. Let's see where we end up.

benjihyam

The yen strengthening is what preceded the last market selloff and it looks like it could also be the cause of the next one. If we look at the chart, it seems like we've now formed a massive top. If USDJPY breaks through support at 141.33 that should be the initial trigger for a short. Below $139, under the wicks would be the safer play. I could see the move...

benjihyam Updated 

AMEX:USO broke down from a long term that started in March 2020 and is now breaking down below support at $67. The most likely outcome is a continuation down to the lower support levels at $29-33. I won't rule out the possibility of one more retest of the trend line ($73-75) before continuing down further. An invalidation of the short would be a break over the...