The JPY Pairs May Be a Bull Trap! Plus 3 Bullish and 3 Bearish Stocks
The NASDAQ stock index is the proxy for the United States tech sector and it’s been making history of a sort.
The index has moved to higher highs eight weeks in a row now.
This is only the 14th time that’s happened since 1985. While there are no signs of a major sell off, the extent of this rally suggests it must be close to hitting some kind of wall.
I don't see any pattern or price action that indicates that reversal is about to happen. However, remember that trees don't grow to the sky. I don't expect the NASDAQ will either.
For comparison, here’s the S&P500:
The S&P500 is trading within the confines of an ascending broadening price pattern (bearish) and isn’t far from a major resistance level. I expect 4,400 to be a formidable resistance barrier.
In fact, I wouldn’t be surprised to see some kind of retracement back to the lower edge of the pattern.
And now the DJIA (the Dow Jones Industrial Average) which is also traversing within an ascending broadening price pattern.
The DJIA is now at resistance. I anticipate it will retrace back to the lower support line around 32,000.
That’s because unlike the S&P500 and the NASDAQ -- which have powered to all-time new highs -- the DJIA has already flattened out and looks more vulnerable to a decline.
Watch my full report for more.
There are some very important reasons to watch this one ASAP…
The JPY pairs showed some price action that may have completely changed their outlook for the rest of the year.
Gold and silver also have suspect price behavior you need to know about.
Plus I have 3 bullish and 3 bearish stocks you should consider trading.
Each of these situations offer immense profit opportunities if you’re in quickly enough and at the right price.
Just watch the Weekly Video Report. You’ll get pattern identification, price action and price targets for the best tradesI see right now PLUS the reasoning behind each one.
The highlights include:
- Which key price level the S&P500 is about to hit and why it's important
- What the different stock indexes suggest about stock behavior in general
- These 3 stocks are all bullish and worth buying now (starts at 4:04)
- What PTON, BYND, and QS all have in common
- Why I like both GBPNZD and GBPAUD right now
- Is there now a bear case for USDJPY? My surprising answer (begins at 15:28)
- These 3 JPY pairs may not be in a paradigm shift after all (last week was crucial)
- Why the monthly view of silver is important right now
- Plus much more!
Choose a price that makes you happy, then access my Report right now -- before the clock strikes midnightFriday:
There’s no commitment and no minimum investment. Just ‘name your own price’ and start learning!