2024/11/16
Daily 4XSetUps - CBOT_MINI:YM1! Gives In Last Week
“still an all-time high on monday - but after that it only went down!
all about trump? ended the euphoria as quickly as it came already?”
A relatively weak stock market week in the USA ended on Friday.
The increasing uncertainty about the economic and fiscal policy of a new government under Donald Trump has recently made investors act more cautiously, as many observers write. But I think it was the FED that (for now) pulled the plug on further stock market prices in the US. Fed Chair Powell delivers a blunt message on interest rate cuts. And that's why, in the end, the leading index
DJIA , which started the week with a record high on Monday, lost -0.70% to 43,444.99 points on Friday. The Dow's weekly balance is also negative at -1.3%. In the previous week, the index had increased by +4.6% in response to Trump's election victory and had reached highs for three days in a row. Since then, the initial euphoria of traders and/or investors has given way to a more skeptical attitude. Paul Krugman, whom I greatly admire (and have learned a lot from him, and am still learning based on his comments I always read) wrote the following interesting thing: “if you think you'll be unaffected by a second Trump presidency because you aren't 't undocumented or Puerto Rican or a Democratic politician, I encourage you to reassess.” It therefore remains to be seen how the price action will go up or down in the coming week, let alone until the end of 2025.
“Pain + Reflection = Progress”
Ray Dalio
44625 : 2024/11/11 - All Time High
43581 : 2024/10/18 - Oktober High 2024
43568 : 2024/11/11 - last price action
43005 : 2024/09/27 - September High 2024
42091 : 2024/10/08 - 1st Oktober Low 2024
41791 : 2024/11/04 - November Low 2024
These seem to be the most important price action zones, more or less, above 40000 points. And where, sooner or later, accelerated price action can occur, because bulls and bears have more or less played off each other here so far. Basically, a renewed price action between 43581 and/or 43005 points should not represent a major problem for the current upward trend, because the price action in October 2024 below 43000, with a turnaround above 43000, would therefore serve as a support zone. That's why I wouldn't chase the price action - I'd rather go long again if the leading stock market index on WallStreet turns negative again for a few days, maybe even after a red bearish week or two. Because Trump will not be back in the office until the end of January 2025. And until then, a drop below 40000 cannot be ruled out. So let us enjoy the wave - and stay alert. That was what I already wrote last week, on the Monday in question, at the last all-time high. And today, at this point, I would like to add that, above all, the price action between 43581 and/or even 43005 will be groundbreaking for this week. And it should definitely last. From the bulls' point of view - from our point of view. Because a fall below 43005 could accelerate the sell-off down to 42091 points. And that would be a technical knockout, to use a boxing metaphor. Because then the bears would have regained ground against us bulls, at least in the short term. And the picture, let alone the mood on WallStreet, will probably have fizzled out before it even started. Why? Because it was and is the price action before the FED lowered its interest rates! Which would then confirm in the price action that the traders and/or investors expected interest rate cuts far too high and far too quickly. Therefore, it is important to defend the 42000 points in any case. Especially for us bulls. Although a fall to more or less this level and then turn back up? A perfect scenario would be! Why, because then the highs of the previous months, including September 2024, i.e. August 2024 and or also July 2024, would have served as support zones. Which were initially peak prices in the summer of 2024.
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45000 : 2024/09/16 - Target Price
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43568 : 2024/11/15 - last price action
41660 : 2024/09/16 - Entry Price
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40000 : 2024/09/16 - Stop Price
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With best wishes
and with good intentions!
Aaron
“daily 4XSetUps - …” is pure information material!
By trying to give you even more information about some trading capabilities to trade and/or invest in some securities. This post is not a call to action - it only provides information. You decide (not) to decide. Even if I am writing daily 4XSetUps with concrete entry prices, target prices and/or also stop prices! It is like it is - like I said; You decide to respond to the analysis I just formulated to buy, to sell, or to do nothing! More information about my approaches to investing in something specific or just trading it, or even just describing it, can be found in the daily "Another 48h - DXY ...! Analysis Post. Where I try to track the price action in
DXY every day so that we learn something new daily.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.