After completing a huge move of 6.70% up from the lows and forming a wedge within a valid 3 wave bear flag price is at a key area right now. While a small move up is still possible the probability is lower. This agrees with GBPUSD analysis.
One more push up has done little to change the structure. The structure now has formed a rising wedge within the Bear Flag.
Biggest threat to the Economy and Markets. Rising flags resolve themselves to the downside once the structure has been validate with 3 confirmed waves. Wave 3 requires an established reversal hook to be considered valid. Market closed prior to revealing its intentions point C. Break of trend does not look promising. If confirmed a 6% decline is likely in the...
Whoever tells you industrial production does not matter to the economy and markets bc we are service based. Tell them they are clueless! At the very least they cause stagnation in the economy and wild moves in markets.
Fundamentals with proper charting is the best way to identify good risk reward setups for investing.
Here is how we see it Real Macro Investing
NDX Buy was a good call. Now we wait as the short term bottom is in. Fundamentally economy is very good no reason to panic.
After a big market drop we take a look at the fundamental and technical overview of the markets.
Long term play. Could test previous low but upside is very likely in the weeks ahead.