The Case for a Short Term Peak on US and European Stocks

I have been tracking a number of highly correlated markets from the Oct time frame. The new high and low (depending on which market) appears to be the 5th wave of an impulse wave from that’s been developing from Oct 2019. So the expectation as we head into the FOMC this week is a potential reversal setup.

Based on the next move will have big implications going forward. If the moves from October 2019 do not get fully retraced on markets such as the ES or US 10 year notes (ZN), then it’s likely going to support more upside for US stocks, as well as a continuation lower US 10 year notes (yields higher), etc.

If you are looking to buy the dip on US or European stocks, then at least wait for the market to pullback/correct the advance from the Oct low on markets like the ES and FDAX. A 3 wave decline is a bullish setup, a full retracement below the Oct low would be a bearish development.

FDAX

ZN vs FDAX & ES

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Disclaimer

The content of this website is for educational purposes only, the information supplied shall not be construed as a recommendation to buy or sell any security or financial instrument. Wavepatterntraders will not be held responsible for any losses occurring from the information provided within the website. The information expressed within the website is solely the opinion of the author/owner. Wavepatterntraders are not registered investment advisers. Members are strongly urged to consult an investment consultant before making any financial decisions or investments.

Futures trading in stocks, Forex and commodity markets carries a high level of risk and past results are not indicative of future performance, trading may not be suitable for everyone. Information supplied maybe copied or reproduced with the permission from the owner, providing that the full attribution is given to the original source and have the acknowledgment of wavepatterntraders.com or its owner.

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At checkout, we will collect your name, email address, username, and password. This information is used to setup your account for our site. If you are redirected to an offsite payment gateway to complete your payment, we may store this information in a temporary session variable to setup your account when you return to our site.

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The Case for a Short Term Peak on US and European Stocks

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