We have 5 minor waves followed by correctional waves, and a correctional broadening triangle with minuette correctional a,b,c pattern, where wave c has a 5 wave ending diagonal. The fibonacci levels is matching the waves criteria, and the waves is therefore validated.
Fundamentals.
overall the US economy is showing signs of slowing. GDP growth rate is expected to gold its current levels with only 0,10% change throughout 2019 and swinging from 2,7 to 2,8%
while personal savings is rising, Personal spending is forecasted to fall, with the highest forecast of 0,50% Q12019 and the lowest of 0,20% i Q4 2019 with a forecast of 0,30% in Q4 2018.
MBA mortgage applications is also due to fall, while 30Y fixed mortgage has risen above 5% followed by building permits and housing starts which is also expected to slow its pace, and fall throughout 2019.
Households debt to GDP is at its lowest level since 1995, but is expected to rise slowly throughout 2019, with consumer spending.
Entry and exits.
I will be waiting for a shot at 114,300. if this levels is not reached, then i will be looking for a break of 112,250. with a TP at 108,400
SL will be above wave 3 and 5
A break above 113,350 will invalidate the setup, and a new count is needed
Fundamentals says bearish, where technical has a bullish trend, and holding inside the trend channel.
You decide which side you chose, good luck ! :)
Fundamentals.
overall the US economy is showing signs of slowing. GDP growth rate is expected to gold its current levels with only 0,10% change throughout 2019 and swinging from 2,7 to 2,8%
while personal savings is rising, Personal spending is forecasted to fall, with the highest forecast of 0,50% Q12019 and the lowest of 0,20% i Q4 2019 with a forecast of 0,30% in Q4 2018.
MBA mortgage applications is also due to fall, while 30Y fixed mortgage has risen above 5% followed by building permits and housing starts which is also expected to slow its pace, and fall throughout 2019.
Households debt to GDP is at its lowest level since 1995, but is expected to rise slowly throughout 2019, with consumer spending.
Entry and exits.
I will be waiting for a shot at 114,300. if this levels is not reached, then i will be looking for a break of 112,250. with a TP at 108,400
SL will be above wave 3 and 5
A break above 113,350 will invalidate the setup, and a new count is needed
Fundamentals says bearish, where technical has a bullish trend, and holding inside the trend channel.
You decide which side you chose, good luck ! :)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.