Today in the markets were tracking the release of US PPI data which can be a key indicator for where the US born stock market is moving given the updated release of CPI data on December 13th.

Moving into the weekend, we may expect short-term price indecision as PPI data tries to price in anticipated stock momentum to come on December 13th.

The stocks/crypto covered today are BTC, ETH, and SPY.

Other Stocks covered on 1H Timeframe.

Crypto: LTCUSD

Stocks: TSLA

Bitcoin

On Daily BTC is trading inside a local channel from 17.6 to 15.7, which was established on 11/9/2022. Momentum of the D 9 EMA shows that the cross with volume on 11/30 with a candle low of 16.4 remains the support under current price action. Local support at 17K confluent with the psychological level of a round number remain eyes on with wick support to 16.6 for drop bids. Bijon level above to note is at 19.8, with FisherFI momentum bouncing of resistance with price efficiency declining but still well above 0.

On Intraday (15 M TF) we're tracking key levels at 17.2 and 16.8. with a Nine Vector confluent with the daily 9 EMA at 17K.

The data projection to watch based on Nine Intercept is 8 AM EST, 10:45 PM EST, and SAT (12/10/2022) at 2 PM EST. With a Nine Weighted Average Price (WAP) at 17.2K.

If we expand the Nine Intercept price grid we get the following levels and dates to watch going into next week.

Price:

Resistance: 17.243 / 17.382 / 17.605
Support: 17.019 / 16.968 / 16.798 / 16.657 / 16.548 / 16.435
Upper Extreme: 17.965
Lower Extreme: 16.075

1H Bijon [P] is BULLISH above the Bijon Trailer (17.146) yet COMPROMISED with a Bijon BaseLine level currently at 17.191. Prior Bijon BaseLine levels at 16.87 and 16.81 mark the zone to watch for testing prior support.

Ethereum

On Daily ETH is trading inside a local channel from 1320 to 1099, which was established on 11/9/2022. Momentum of the D 9 EMA shows that the cross with volume on 11/29 with a candle low of 1159 remains the support under current price action. Local support at 1259 confluent with the pivot level of 1222 remains important to watch. Other pivot levels to note are at 1745, 1426, and 1136 respectfully, with FisherFI momentum breaking support with price efficiency declining below 0.

On Intraday (15 M TF) we're tracking key levels at 1280 and 1227. with a Nine Vector confluent with the 1259 Daily level, and a intraday support breaker level of 1269.

The data projection to watch based on Nine Intercept is 9:45 AM EST, and 12:30 PM SAT (12/10) EST. With a Nine Weighted Average Price (WAP) at 1283

If we expand the Nine Intercept price grid we get the following levels and dates to watch going into next week.

Price:

Resistance: 1277 / 1291 / 1302 / 1312 and 1347
Support: 1258 / 1250 / 1234 / 1221 / 1210 / 1199
Upper Extreme: 1347
Lower Extreme: 1164

Dates:

12/10/22 @ 9:30 PM EST
12/11/22 @ 6:30 AM EST
12/11/22 @ 2:15 PM EST
12/12/22 @ 3:15 PM EST

1H Bijon [P] is TESTING the confluent Bijon Trailer (1275) and Bijon BaseLine level currently at 1274. Prior Bijon BaseLine levels at 1257 and 1230 mark the zone to watch for testing prior support.

SPY

On Daily $SPY is trading inside a local channel from 407.95 to 388.30, which was established on 12/2/2022. Momentum of the D 9 EMA shows that the cross DOWN with volume on 12/05 with a candle high of 404.70 remains the resistance above current price action. Local resistance at 399.80 confluent with the pivot level of 398.45 remains important to watch. Other pivot levels to note are at 424.17, 380.39, and 364.23 respectfully, with FisherFI momentum breaking the 0 line to the DOWNSIDE on 12/7 with price efficiency well declining below 0 and no identifiable pivot upward to date.

On Intraday (15 M TF) we're tracking key levels at 399.89, 396 and 393.50. with a Nine Vector of 395.40, and a intraday support breaker level of 394.40.

The data projection to watch based on Nine Intercept is 2:45 PM EST on 12/9, and 5:00 AM EST (12/12). With a Nine Weighted Average Price (WAP) at 395.42.

If we expand the Nine Intercept price grid we get the following levels and dates to watch going into next week.

Price:

Resistance: 397 / 398 / 398.87 / 399.65
Support: 395.50 / 394.80 / 393.81 / 392.85 / 391.98 / 391.20
Upper Extreme: 402.27
Lower Extreme: 388.56

Dates:

12/12/22 @ 9:15 AM EST
12/12/22 @ 1:30 PM EST
12/12/22 @ 4:45 PM EST
12/13/22 @ 12:00 PM EST

1H Bijon [P] is BULLISH above the Bijon Trailer (395.33) and Bijon BaseLine level currently at 393.34. Prior Bijon BaseLine levels at 395.72, 402.60 and 407.37 mark the levels to watch for testing prior support or resistance.

Other Assets

LTCUSD

Litecoin has shown strength relative to the market in the past week, but over the course of the last day we've seen a breakdown of the Bijon 1H Trailer and price is currently testing the local BaseLine level at 76.04 with a negative Bijon Trailer level at 77.43. A break of the prior BaseLine support held at 72.92 could see a larger reversion back to lower structure at 61.27 with a base low at 53.

TSLA

After a week long decline TSLA is showing strength breaking above the 1H Bijon BaseLine and Bijon Trailer levels at 173 and 175 respectively. Prior BaseLine resistance of 182.72 and 194.97 are in scope for bulls while Bijon Trailer support at 176.80 and lower BaseLine levels of 173 and 169.18 are targets for continual bears.

DISCLAIMER:

This NewsLetter and its authors ("SignalFI") are not a registered financial advisors and hold no formal qualifications to give financial advice. Everything that is provided in this group is purely for educational purposes only. All information here should be independently verified, researched and confirmed. SignalFI is not accountable or liable for any losses or damages. Be aware of the risks involved with trading. Do not trade with more money than you are willing to lose. Trading involves substantial risks. The valuation of cryptocurrencies, stocks and futures contracts will fluctuate, and you may lose more than their original investment. The highly leveraged nature of futures trading means that small market movements will have a great impact on your trading account and this can work against you, leading to large losses or can work for you, leading to large gains. You may sustain a total loss greater than the amount you deposited into your account. You are responsible for all the risks you take and for the trading strategies you choose to use. All trading strategies and opinions are used at your own risk. Any content provided to you by this NewsLetter or any of its associates should not be construed as financial advice. It is your responsibility to decide which trades to execute. Past results are no indication of future performance. In no event should the content of this disclaimer be construed as a promise or guarantee. SignalFI or any of its associates are not responsible for any losses incurred as a result of using any of our trading strategies or opinions.

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Daily Signal [12-9-2022]