2024/11/23
Daily 4XSetUps - Clean Trend Reversal In YM1! Last Week
“losses from Monday & Tuesday were made up until friday!
do we bulls have any more strength? new all-time highs?”
44625 : 2024/11/11 - All Time High
44395 : 2024/11/22 - last price action
43581 : 2024/10/18 - Oktober High 2024
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. And that happened last week, like in a teaching school book. That's why I wouldn't still 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, and/or last week also.
“Imagine that in order to have a great life you have to cross a dangerous jungle. You can stay safe where you are and have an ordinary life, or you can risk crossing the jungle to have a terrific life. How would you approach that choice? Take a moment to think about it because it is the sort of choice that, in one form or another, we all have to make.”
Ray Dalio
The US stock market is overbought in the historical context. The Buffett indicator, for example, is currently trading more or less around its historical high. The Buffett Indicator expresses the value of the US stock market in terms of the size of the US economy. If the stock market value is growing much faster than the actual economy, then it may be in a bubble. Is the US stock market crash just a matter of time? Yes - if the US unemployment rate skyrockets! And no - if the US unemployment rate remains low and therefore there is no recession! That's why we'll first look at the upcoming US labor market data. And let us hope that the US unemployment rate will not rise. So that's
YM1! don't come under pressure because of the US economy - the fear of higher US unemployment rates and/or even an US recession. In the best case scenario, the price action will react like last both times - when the price action, in retrospect, always marked something like a low in the days before and/or after. Only to form a new high again one to two weeks later. Therefore, pay attention to the upper price action zones - and let this long 4XSetUp continue this week, during this Thanksgiving week.-----------------------------------------------
45000 : 2024/09/16 - Target Price
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44395 : 2024/11/22 - 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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Disclaimer
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.