My opinion is the US markets will struggle to hold near recent lows – attempting to hammer out a bottom/base over the next few days. If these critical support levels fail to prompt a bottom in price, we’ll know soon enough. The markets can stay irrational far longer than many people expect.
The next 2 to 5+ trading days should clearly show us if these support levels and channels are solid or not. If the global markets are going to continue to move lower, we should find out soon enough.
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If I’m correct and the markets do hold up near these support channels, we may begin to see a new “Rip-Your-Face-Off” rally phase to start a powerful Santa Rally closing out 2021. That would be incredible to witness and experience.
Watch for support near $15,721 to $15,750 on the NQ over the next 5+ trading days. I believe that level is the “Do-Or-Die” level for the markets going forward.
Learn how I use specific tools to help me understand price cycles, set-ups, and price target levels. Over the next 12 to 24+ months, I expect very large price swings in the US stock market and other asset classes across the globe. I believe the markets are beginning to transition away from the continued central bank support rally phase and may start a revaluation phase as global traders attempt to identify the next big trends. Precious Metals will likely begin to act as a proper hedge as caution and concern start to drive traders/investors into Metals.
If you need technically proven trading and investing strategies using ETFs to profit during market rallies and to avoid/profit from market declines, be sure to join me at TEP – Total ETF Portfolio.
Have a great day!
