Sourced from: https://www.countingpips.com/2019/05/the-shake-out-continues-where-is-the-bottom/
Now I am going to give away and shipping rounds out to anybody who purchases a subscription into my Wealth Trading Newsletter. I have 13 left as they are going fast so be sure to upgrade your membership or join one of Both of These plans If You’re new, and You’ll receive:
Therefore, smart traders want to know where the base on the market is very likely to be found and when they ought to begin to long positions — that is understandable. We’re here to help.
Lastly, the Transportation Index (TRAN) is showing us the disadvantage price move might have already reached a degree that can prompt intermediate price support — or even a potential base formation. Seems to be the support level for its TRAN. It would make sense the TRAN may start to base close to this level over the next while the US stock exchange attempts to hammer out a floor.
Ultimately, the $10,000 level has been demonstrated to be somewhat strong support for the TRAN. So any breakdown in this indicator would prompt a target level of $10,000 for your next service level. Again, pay attention to this US Dollar and Gold because this movement persists. Any fear will translate into prices in precious metals and a weaker US Dollar.
I only have 13 more silver rounds I am giving off
Second, my birthday is only a few days off and I guess its time that I open up the doors to get a once a year opportunity for everybody to get.
This next chart, the NQ Weekly, Indicates a similar chart format to this YM. Clear immunity could be seen close to the highs and service is located from previous Fibonacci Bullish Price Trigger Levels near the 6600 degree. The NQ, being heavily weighted in Technology and Internet stocks, may be able to fall the furthest maybe as much as -700 before finding service, to -800 pts. Currently, a service level near $7400 is the first level we are currently watching. Then we could see a much larger move to the disadvantage unfold fairly fast In case the NQ breaks under this level.
Our Fibonacci price modeling system that is proprietary is. The cause of this is because it shows us so much data that we can”read into” our analysis/research. Another reason is that it is an”flexible learning” version — which means it has been learn from price data and adapt its own analysis of that information.
And that’s excactly what is happening right on queue. In reality, we closed our SDS place now for a fast 3.9% profit and our other new commerce began today is up currently 10%.
Intelligent traders are already asking themselves”where is the base for this move”. Theyunderstand the US economy’s essentials are powerful enough to support upside activity in the future and ‘ve probably been through these kinds of rotations in market cost. The trade stresses could result in a pricing disruption of 4 to 8% however the US Fed is continuing to leave rates unchanged and most US numbers are still posting levels.
(Could it be worth a lot later on )
May Everyone Joyful!
Let’s start with the Weekly YM graph. The GREEN emphasized box on this graph shows where the previous two Bullish Fibonacci cost trigger levels were generated. These become support levels going forward. The lean ORANGE box near the peak is the immunity station we highlighted weeks ago that suggested a volatility spinning peak could be putting up. We have also drawn an oblique/circle about the graph in BLUE that highlights Fibonacci target price amounts.
SUBSCRIBE TO MY TRADE ALERTS AND GET YOUR FREE SILVER ROUNDS!
(May be worth hundreds of dollars)
Pay attention to our continuing research and we’ll help you discover the bottom once it forms. Our expectations are for a downside price move that will establish a formation over the subsequent 3. We are starting to find the early signs of cost support — so a bottom may not be too far away, although we are not from the woods yet.
It’s our view that a disadvantage leg, maybe to levels below $25,000, are possible as this Shake-Out continues and as the economies continue to revalue expectations. We’re seeing the currencies closely as the previous few days have been devalued extensively over by the Chinese Yuan. This US Dollar strength will keep metals level whilst prompting some stability in america stock market with time.
In closing, we consider the signals of a potential price bottom are putting up. This might not be the ultimate bottom, but the clear support level in the TRAN is an excellent sign that the markets will be setting up a support base that may prompt some sideways trading during the upcoming few weeks as the market continues to digest all of this worldwide news. A deeper”washout-low” cost formation may set up at the INDU or the NQ over the upcoming few days which means we may observe a deeper price rotation before the downtrend actually ends.
So update or join now before its too late!