In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we discuss the bullish continuation in the US Indices.
We currently have strong fundamentals and sentiment supporting US Equities. The most imposing right now is the potential that the FED will decrease interest rates in the June or July FOMC. The markets are pricing in a July rate cut as things stand. The other fundamental development is a resolution to ongoing trade war tensions with Trump wanting to meet with Xi at the next G20 meeting at the end of the month. Potentially, this would have a positive impact on the price of the US Indices.
From a technical perspective, we have seen a strong rejection of the 2866 lows reversing and then breaking above the Wednesday high of 2889. This is bullish enough, however, we are actually looking for high probability trading opportunities above 2900. In contrast, this is marginally above yesterday’s high of 2895.
Bullish Continuation in the US Indices – Full Video Analysis
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