Last week we had strong numbers out of China and our research continues to suggest the Chinese stock market could be poised for an upside price rally of at least 15% over the next 30+ days before possibly reaching a peak in June or July 2019. Our Fibonacci predictive modeling system is suggesting a target level of $30.50 to $31.50 as an immediate upside profit range in the Direxion Daily FTSE China Bull 3X Shares ETF
We believe the continued pricing pressures of 2018 are easing as negotiations with US trade officials have everyone optimistic for a suitable and equitable outcome. Our researchers believe the upside in the Chinese stock market could be as high as $32 to $36 as measured by YINN before the June/July peak is reached. This would represent a +25% to +40% upside price objective from recent highs.
It is our belief that the continued US/Chinese stock market rally that began after the December 24, 2018, bottom will continue until a June/July 2019 peak is reached in the global markets. Pay attention because this could be an excellent short term price move for skilled traders to pocket 10% to 20% over just a few days or weeks.
Another pocket of stocks also starting to breakout are small-caps which I shared in a detailed technical analysis video last week. While we have suggested the US stock market is poised for further upside price activity with a moderately strong upside price bias, our research continues to suggest the S&P 500, Dow Jones 30 and Nasdaq stock markets will not break out to the upside until the Russell 2000 breaks the current price channel, bull flag, formation which is why I am starting to focus on small-cap stocks using my MRM Trading Strategy.
Please visit www.TheTechnicalTraders.com to learn more about how we help our members learn to find and execute incredible trading opportunities. We’ve recently launched a new technology solution for our members that delivers our research and trading solutions. 2019 is going to continue to be a great year for skilled traders or those who follow our analysis – you won’t want to miss these big moves that are
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