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Bullish Case For Stocks Facing Critical Test

By Chris KimbleStock MarketsApr 24, 2020 07:52AM ET
www.investing.com/analysis/critical-stock-peaks-tests-inplay-says-joe-friday-200522568
Bullish Case For Stocks Facing Critical Test
By Chris Kimble   |  Apr 24, 2020 07:52AM ET
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Indices Monthly Chart
Indices Monthly Chart

The bullish case for stocks is being put to an important price test here and now!

This 4-pack reflects that “new resistance” and Fibonacci retracement levels are in play for each of these look-alike patterns.

Each of these important indices hit long-term support at each (1), where bullish reversal patterns were created at the March lows.

The rallies off the March lows has each index testing new resistance at respective 38% retracement levels at each (2).

Joe Friday Just The Facts Ma’am; Stock market bulls receive positive news if each index breaks above resistance at each (2). If bearish reversals take place at dual resistance, odds increase stocks just experienced an important counter-trend peak. One of the more important price tests in months is in play currently!

We put together this video details what the four largest bear markets of the past 100-years looked & acted like. CLICK HERE to watch this video.

Bullish Case For Stocks Facing Critical Test
 

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Bullish Case For Stocks Facing Critical Test

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Comments (8)
Alipio Jr
Alipio Jr Apr 28, 2020 7:53AM ET
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the post is empty!
Emanuel Dabah
Emanuel Dabah Apr 27, 2020 9:06AM ET
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look to the energy sectors Oil is down no buyers.... ones the will have to shutdown facilities market will start to sell off again
Jeosef Broz
Jeosef Broz Apr 25, 2020 7:12PM ET
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more fact-based ...from Morgan Stanley's chief biotech analyst Matthew Harrison & less outdated (as this video's hypothesis was already broken by markets): "recovering from this acute period in the outbreak is just the beginning, not the end" and "path to re-opening the economy is going to be long... This view on the delayed peak and slow return to work has led our US economists to revise their US forecast to a return [of economic activity] to pre-COVID-19 levels not until 4Q21"  ...That's not 4Q2020 as previously forecast, folks -- that's >1.5 YEARS from now.  Longer than the 2009 recession, and (estimated, based on data so far) AT LEAST TWICE as "deep" losses as 2009.  Worst day of "New Patients" in USA so far was...today: wikipedia DUT(".") org/wiki/2019%E2%80%9320_coronavirus_pandemic#/media/File:2020_coronavirus_cases_by_date_of_report.svg  The politicians are lying again -- my fellow bio-scientists are not.
Kevin Tortoise
Kevin Tortoise Apr 25, 2020 2:45PM ET
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The video is from March 27th. The author just runs some simple retracement projections for the market. He thinks (as of March 27th) that 2800 on the SNP500 will mark the peak of the rally. He also said to expect the peak in the middle of May. But obviously, he was wrong. We already crossed the 2800 threshold last week here in April. His analysis is entirely dependant on his assumption that 2020 will be just like the last two bear markets of this century and he assumes this rally will strictly follow a 50% retracement pattern. He doesn't incorporate any fundamental analysis of valuations, fiscal stimulus, Fed intervention, market breath, or take into account the context of this bear market such as it being caused by a virus which will may fade away within the next 2 months.
Don Getty
Don Getty Apr 25, 2020 2:45PM ET
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Virus won't be gone in two months - and the impact of social distancing will be with us until there is a vaccine -
Daniel Cohen
Daniel Cohen Apr 25, 2020 2:45PM ET
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Ya i mean you have to just go based on history. History repeats itself time and time again in the stock market. This specific decline and rally happened a lot faster than the previous ones and the fiscal stimulus came in a lot faster as well. But the decline in 08 also came after stimulus.. and owning a stock is owning a share of a company that is making money not just having money thrown into a debt balance sheet. And it only takes 1 sector to fail for the domino effect to come in. Lets see what happens if history repeats itself we short, if it doesnt we go long. God bless the power of the buy and sell options. No more one side to this story. But i do reccomend to all my friends at least reduce positions. Take your gains and walk away before you cant.
Patron Silver
Patron Silver Apr 25, 2020 12:54PM ET
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charts dont show and links dont work
Emile Hakizimana
Emile Hakizimana Apr 24, 2020 5:39PM ET
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where is the video ?
SIMON MOON
SIMON MOON Apr 24, 2020 1:59PM ET
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its a market driven mostly on instinct at this point. I don't care how long youve been doing this.
Luis Angulo
Luis Angulo Apr 24, 2020 9:18AM ET
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I could not see the video
 
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