{"id":149308,"date":"2019-06-10T08:04:39","date_gmt":"2019-06-10T12:04:39","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=149308"},"modified":"2019-06-10T06:06:09","modified_gmt":"2019-06-10T10:06:09","slug":"us-markets-rally-hard-could-another-big-upside-leg-begin","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/06\/us-markets-rally-hard-could-another-big-upside-leg-begin\/","title":{"rendered":"US Markets Rally Hard \u2013 Could Another Big Upside Leg Begin?"},"content":{"rendered":"
June 10, 2019<\/div>
\r\n<\/div><\/div>

By TheTechnicalTraders.com<\/u><\/a><\/strong><\/p>\n

Closing out the first week in June 2019, the US stock market rallied hard from recent lows and prompted many traders\/investors to rethink their future plans.\u00a0 At the same time, Gold and Silver began a decent price rally of their own while Oil found support just above $50.\u00a0 It certainly has been an interesting week for traders.\u00a0 One that was full of incredible opportunity as many symbols rotated 6 to 12% or more over the past 10+ days.<\/p>\n

The fact that Oil is finding support above $50 while Gold and Silver continue to rally suggests that fear may be entering the metals market while Oil may have found a temporary price bottom near $50 to $51.\u00a0 Weakness in the US Dollar is also helping both Oil and Metals to push higher.\u00a0 Our recent research suggests that the US Dollar will find support near $95 indicates the US Dollar may fall a bit further \u2013 pushing Oil and Metals a bit higher.<\/p>\n

The strength in the US stock market near the end of the week suggests fear of any US collapse or future economic concerns appears to be abated.\u00a0 It is very unlikely the US major indexes would rally as they have on any extreme fear of any major US calamity or economic concerns.\u00a0 A slightly weakening US Dollar and moderately strong US economic data continues to suggest the US stock market may continue to be the repository of funds for foreign investors for many years to come \u2013 or until something dramatic changes in the US.<\/p>\n

It is rather simple to understand the capital process that is at work in the global economy at the moment; until foreign market valuations and expectations appear to be opportunistic for future returns, the US Dollar and the US stock market are the most likely targets for foreign investment and safety.\u00a0 Weakening currencies, weakening global economies and weakening commodity prices will push capital away from foreign markets and into safety.\u00a0 Safety will be found in the US markets, precious metals and possibly Crypto currencies.\u00a0 Anything that avoids deflationary risks and credit\/debt risks.<\/p>\n

This YM Weekly chart highlighting our Fibonacci price modeling system shows how dramatic the upside price reversal was by the end of last week.\u00a0 The closing candles created an Engulfing Bullish candlestick pattern which is typically quite bullish.\u00a0 The fact that price closed above the GREEN Fibonacci trigger level is further indication that a renewed price rally may begin soon.\u00a0 Support near $24,000 appears to be quite strong and any further downside price risk must first break this level.\u00a0 As long as support holds and price continues an upside bias, there is a very strong potential for a move to above $28,000 in the works.<\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n
\"\"<\/figure>\n

This NQ chart highlights a similar price pattern and suggests the NQ needs to climb above $7600 before a true rally can begin.\u00a0 Ultimately, the upside targets for this move are near $8500 or higher based on current price rotation.\u00a0 Support near $6800 is critical \u2013 so price must stay above this level for any future rally to continue.<\/p>\n

\"\"<\/figure>\n

We authored a VIX\/Volatility article just a few days ago that highlighted our believe that the VIX would trade lower, within a sideways price channel till near the end of July or August 2019 \u2013 then begin another VIX Spike move upward.\u00a0 This coincides with the current research we are seeing where the US stock market will likely continue to push higher, very possibly setting new all-time highs again, before any real risk of any downside price collapse happens.<\/p>\n

Follow our research and don\u2019t miss these opportunities<\/strong>.\u00a0 We\u2019ve been warning our followers for months that 2019 and 2020 are going to be incredible years for skilled traders.\u00a0 These recent 10 to 20% moves in Gold, Silver, Oil and many ETFs are just the beginning.\u00a0 Our research team and trading team are ready to help you find and execute for better success.<\/p>\n

Chris Vermeulen
\nTheTechnicalTraders.com<\/u><\/a><\/strong><\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By TheTechnicalTraders.com Closing out the first week in June 2019, the US stock market rallied hard from recent lows and prompted many traders\/investors to rethink their future plans.\u00a0 At the same time, Gold and Silver began a decent price rally of their own while Oil found support just above $50.\u00a0 It certainly has been an […]<\/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-149308","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/149308","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=149308"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/149308\/revisions"}],"predecessor-version":[{"id":149309,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/149308\/revisions\/149309"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=149308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=149308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=149308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}