The Nasdaq Is Not In A Downtrend

JC Parets
July 1, 2020

What do we know about all-time highs? We know we don't usually see them happen in downtrends. As obvious as this might seem to some, you'd be surprised how many people don't realize that new all-time highs are a classic characteristic of uptrends.

I encourage you to go back and study the greatest uptrends of all-time. Along the way, do you see new lows being made? Or do you see a lot of new highs in those uptrends?

Well, here is the Nasdaq Composite closing at new all-time highs for the second consecutive month. I've done the work, these are things we usually find in uptrends:

Click on Chart to Zoom In

Our next upside objective is still 11,640 which represents the 261.8% extension of 2000 crash.

For the Nasdaq100, it's a similar story. Back-to-back all-time monthly closing highs after successfully retesting that 181 level that has been so important to us for so long. 281 is still our target here for $QQQ

Meanwhile, there has only been one other month in the history of the universe where Gold closed at a higher price than it did yesterday. That was August of 2011. The trend here is still up:

So what's the catch?

Well, I asked Twitter yesterday and it seems that NO ONE like bonds here:

What does this mean?

We'll be discussing this tonight in a LIVE STRATEGY SESSION (Premium) 7PM ET - you can register for it here.

This Live call is going to focus on the new monthly candles that were just delivered to our doorstep like a delicious pizza. Are you going to indulge? Or are you just going to ignore this beautiful gift from the trading gods?

If you cannot make it live tonight, no worries. The video will be archived right here along with the rest of the Live Video Calls since 2015.

See you tonight!

If you're not a Premium Member yet, ping me here and I'll see what I can do.

JC

 

 

 

 

 

 

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