The video in this report is only accessible to members
The video in this report is only accessible to members

Trend still bullish, but nearing upside targets- Wednesday’s strong “whoosh” higher for Equities and Treasuries has lifted prices along with yields to levels that are near technical targets for a possible trend reversal next week.  Breadth came in quite positive for risk assets to close the trading session following Powell’s comments and the surge helped Elliott counts along with DeMark exhaustion counts grow ever closer to areas that are important towards suggesting a possible pause to this seven-week bounce.  My time target of 12/5-9 for a pause/stalling out looks to be growing increasingly near, and SPX is growing quite close to the 4120 target that I’ve discussed in recent weeks.  $QQQ, shown below, has upside targets at 300, with a likely maximum target of 307.  At present, while attempting to lower risk exposure into a bullish breadth rally into December might seem foolish, it will be imperative for Technology’s trend to strengthen more to have conviction of a larger bounce.  At present, Elliott wave, DeMark indicators and cycles suggest a possible peak heading into next week.

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Treasury yields should bottom into next week

Powell’s comments helped Treasuries extend the ...

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