{"id":145818,"date":"2019-04-15T08:30:11","date_gmt":"2019-04-15T12:30:11","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=145818"},"modified":"2019-04-15T06:57:24","modified_gmt":"2019-04-15T10:57:24","slug":"indexes-race-for-the-new-all-time-high","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/04\/indexes-race-for-the-new-all-time-high\/","title":{"rendered":"Indexes Race For The New All-Time High"},"content":{"rendered":"
April 15, 2019<\/div>
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By TheTechnicalTraders.com<\/u><\/a><\/strong><\/p>\n

Without too much attention from traders, the SPY and QQQ are racing to attempt to establish new all-time highs in what may become the most exciting Spring\/Summer breakout rally of the past 3 years.\u00a0 While many other symbols are still flirting with November\/December 2018 highs, the SPY and QQQ are both showing upside price gaps last week indicating a moderately strong price advancement is taking place.\u00a0 Additionally, both the SPY and the QQQ are already well above early 2018 peak levels.<\/p>\n

If you were not paying attention, it sure looks like these two symbols are racing to be the first to break into \u201cnew all-time high levels\u201d and shock the doomsayers (again) as we may see this rally continue for at least another 30 to 60 days.<\/p>\n

If you\u2019ve been following our research, you\u2019ll know that our short term research suggests new all-time high prices are imminent (very likely over the next 30 to 60+ days).\u00a0 We made this call back in September 2018 before the big selloff prompted by the US Fed.\u00a0 We also called the bottom on December 24, 2018, and warned that the subsequent rally would push hard in an attempt to target recent all-time highs.\u00a0 Now, as we near this event, we need to evaluate what may happen next.<\/p>\n

This SPY chart shows the weekly price bars and just how close we are to new all-time highs.\u00a0 The SPY only needs to rally about $8 to breach into new record-setting territory.\u00a0 We believe the upside rally could continue well above the $300 level as this upside price bias should last until late May or into early June 2019.\u00a0 Therefore, we could see an upside potential of more than 5~8% before a new peak sets up.<\/p>\n

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This QQQ Weekly chart shows similar characteristics, yet shows one incredible variation to the SPY chart.\u00a0 The QQQ chart shows that price is breaching the lower YELLOW price channel and this may result in an impulse move higher in the QQQ that could push it to new highs before the SPY.\u00a0 The QQQ is even closer to all-time highs\u00a0than the SPY \u2013 being only $2.15 away from reaching the all-time high level.\u00a0 If this breach of the lower YELLOW price channel prompts a bigger rally, we could see the QQQ rally upward towards $200 to $210 before setting up a new price peak.\u00a0 This represents a +7.5% to +13.5% upside potential for skilled traders.<\/p>

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If our research continues to be correct, we should expect at least another 30 to 60 days of upward price trend\/bias before any real resistance sets up to potentially create a peak in price.\u00a0 Our research suggests late May or early June 2019 is the time traders should protect open positions and prepare for extended volatility.<\/p>\n

Don\u2019t wait for the ES, NQ, YM or TRAN to break the all-time highs.\u00a0 Watch the QQQ and SPY for this event and pay attention to the Russell 2000 and Blue Chips as they will likely be the early warning signs of a price peak or price weakness.\u00a0 We warned that price volatility will likely increase over the net 30+ days \u2013 so be prepared for some bigger price swings going forward as the bull and bears fight for control as we near these resistance areas.<\/p>\n

With a total of 55\u00a0years experience in technical analysis and trading between Brad Matheny, and myself Chris Vermeulen, our research and trading signals makes\u00a0analyzing the complex and ever-changing financial markets a natural process. We have a simple and highly effective way to provide our customers with the most convenient,\u00a0accurate, and\u00a0timely market forecasts available today.\u00a0Our\u00a0stock and ETF trading alerts\u00a0are readily\u00a0available through our exclusive membership service via email and SMS text. Our newsletter,\u00a0Technical Trading Mastery book, and\u00a0Trading Courses\u00a0<\/span>are designed for both traders and investors. Also, some of our strategies have been fully automated for the ultimate trading experience.<\/p>\n

Chris Vermeulen –\u00a0TheTechnicalTraders.com<\/u><\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

By TheTechnicalTraders.com Without too much attention from traders, the SPY and QQQ are racing to attempt to establish new all-time highs in what may become the most exciting Spring\/Summer breakout rally of the past 3 years.\u00a0 While many other symbols are still flirting with November\/December 2018 highs, the SPY and QQQ are both showing upside […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-145818","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/145818","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=145818"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/145818\/revisions"}],"predecessor-version":[{"id":145819,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/145818\/revisions\/145819"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=145818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=145818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=145818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}