Daily 4XSetUps - New All Time Highs In YM1! At Start Of The Week

2024/11/11
Daily 4XSetUps - New All Time Highs In YM1! At Start Of The Week
“the dow jones appears to be overtaking the nasdaq 100!
a reference to the Trump era for the next 4 years?”



After records in the DJIA and/or the SP500 , Monday's rally lost some of its momentum as it progressed. At the closing bell, the leading index DJIA recorded an increase of +0.69% to 44,293.13 points. However, the other two major stock market barometers on Wall Street largely gave up their profits. The Trump rally weakened somewhat at the start of the week. In early trading, not only the DJIA , but also the broader SP500 and the NDX , which is dominated by technology stocks, had reached highs. However, the SP500 closed with +0.10% at 6,001.35 points, while the NDX fell slightly by -0.05% to 21,106.59 points. The NDX was held back primarily by the price losses of large chip stocks such as INTC , MU and/or AVGO .

"Trump is considered a supporter of lower corporate tax rates, a friend of deregulation and/or an industrial policy that promotes domestic growth"; everyone on Wall Street knows this. And that could give the US economy further stimulus and benefit risky assets such as stocks. Because the US economy is currently growing from the self-organized US stagflation, more or less, since the 3rd quarter of 2024. Which is why I formulated this long 4XSetUp on September 16, 2024, as I formulated it. Because from today's perspective, like back than, I don't expect an imminent recession in the USA. Which also sent cryptos to new heights today. And also our long BTC1! 4XSetUp is benefiting from the US election outcome, as Trump portrayed himself as a crypto fan during the election campaign. Today, on Monday, the most famous cryptocurrency BTC1! exceeded the $87000 mark for the first time. Among the individual stocks, TSLA continued the rally and rose by +9.1% to its highest level since April 2022. The manufacturer of electric vehicles recently exceeded the $1 trillion mark again with its market value. Trump's election victory provides continued tailwind for the course, as Tesla founder and boss Elon Musk was close to Trump's side in the election campaign and is considered a candidate for a position in the new US government.

“Look for people who have lots of great questions. Smart people are the ones who ask the most thoughtful questions, as opposed to thinking they have all the answers. Great questions are a much better indicator of future success than great answers.”
Ray Dalio

44625 : 2024/11/11 - All Time High
44441 : 2024/11/11 - last price action
43581 : 2024/10/18 - Oktober High 2024
43005 : 2024/09/27 - September High 2024
42091 : 2024/10/08 - 1st Oktober Low 2024
41791 : 2024/11/04 - November Low 2024
These seem to be the most important price action zones, more or less, above 40000 points. And where, sooner or later, accelerated price action can occur, because bulls and bears have more or less played off each other here so far. Basically, a renewed price action between 43581 and/or 43005 points should not represent a major problem for the current upward trend, because the price action in October 2024 below 43000, with a turnaround above 43000, would therefore serve as a support zone. That's why I wouldn't chase the price action - I'd rather go long again if the leading stock market index on WallStreet turns negative again for a few days, maybe even after a red bearish week or two. Because Trump will not be back in the office until the end of January 2025. And until then, a drop below 40000 cannot be ruled out. So let us enjoying the wave - and staying alert.

-------------------------------------------------------
45000 points : 2025/06/30 - target price
-------------------------------------------------------
44441 points : 2024/11/11 - last price action
-------------------------------------------------------
41660 points : 2024/09/16 - entry price
40000 points : 2025/06/30 - target price
-------------------------------------------------------


With best wishes
and with good intentions!
Aaron



“daily 4XSetUps - …” is pure information material!
By trying to give you even more information about some trading capabilities to trade and/or invest in some securities. This post is not a call to action - it only provides information. You decide (not) to decide. Even if I am writing daily 4XSetUps with concrete entry prices, target prices and/or also stop prices! It is like it is - like I said; You decide to respond to the analysis I just formulated to buy, to sell, or to do nothing! More information about my approaches to investing in something specific or just trading it, or even just describing it, can be found in the daily "Another 48h - DXY ...! Analysis Post. Where I try to track the price action in DXY every day so that we learn something new daily.