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I’m seeing a beautiful trendline on the daily chart today.
What’s more, there is a very significant event that will happen.
These two factors will determine whether or not the market sees resistance.
You know the drill.
Right now, we’re looking to see if the market respects the trendline.
If it does respect it, expect to see a price drop.
But if it does not respect it, get ready for a bull rally.
The Bulls Want to Disrespect the Trend
The stock market is hyped up right now because we’re seeing very bullish price action.
For example, take a look at the S&P…
Every investor loves to see long, green candles.
Lately, that’s what we’ve been seeing - and investors everywhere are wondering if we’re finally out of the woods.
So let me be very clear: we are not out of the woods just yet.
Bears are creeping around the corner.
Right now, I’m seeing two levels of support at the $4,125 level and the $4,223 level.
The market hit this support 4 separate times and bounced back up.
But every time it bounced back up, it pulled back once it hit resistance.
With the negative trendline intersecting with these 2 support levels, tomorrow will be a very important day.
No matter what happens, I’m getting ready to cash in on this price action, and so are my fellow Stock Navigators.
Chinese Stocks are NOT Back
Recently, the Chinese government announced which companies they will support.
This has caused a very big bull rally in Chinese stocks.
Alibaba (BABA) shot up 36%...
JD.Com Inc (JD) shot up 39%...
And Baidu (BIDU) is up 39% as well.
Yes, Chinese stocks are absolutely on the move.
Yes, Chinese stocks are absolutely crushing the market right now.
But from a technical standpoint, nothing tells me we’re out of the woods just yet.
There is still a significant downward trend amongst Chinese stocks.
Not to mention, we have yet to see consecutive higher highs.
Despite all the hype, currently there is no trend-changing price action.
Which means there is absolutely nothing that confirms a significant bull trend to the upside.
But outside of Chinese stocks, I did see five tickers that checking the right boxes.
These stocks moved 10-15% to the upside before the market even opened.
And each stock I gave out to my Stock Navigators jumped over 10% more to the upside.
Marco Didn’t Know English - Stock Navigators Helped Him 2x His Portfolio
When Marco first saw Stock Navigators, he really wanted to join.
But there was just one problem… he couldn’t read English.
For his entire life, Marco only read and spoke in French!
So, he took this opportunity to learn how to trade and learn English at the same time.
Ever since joining the SN fam, Marco doubled his portfolio.
You can see how he feels about Stock Navigators in this video…
Isn’t this wonderful?
Marco is a shining example of a Stock Navigator... someone who doesn’t let anything stop him!
With the guidance of the SN community, he’s now confident in his financial future.
Our family is growing and I want you to be a part of it - click here to see how to join Stock Navigators.
Stock Navigators has one mission - to help people improve their lives via trading. And it's all made possibly by our team of stay-at-home day traders who provide the most up-to-date analysis every single day. With over twenty years of combined trading experience, Stock Navigators helps you stay on top of the market.
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