A Few Charts... $GS $MSTR $USDJPY
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First, the market bias remains rather aimed at capturing downside as per my video from the prior email. So, if a market is designated as bullish I would take it with a grain of salt as I believe we could have a situation in the near term where stop losses will be forced on buyers who have their entries invalidated under the 200 day moving on the S&P and Nasdaq.
That being said, let’s say that the market is going to hold up. Well, I think the Stripe deal for Goldman is a huge win and the bank is well positioned in the medium term. Hopefully the DJ can cancel a few gigs and get back to work, but the 344 area on Goldman looks interesting to me as we are nearing the Monthly TD Range Projection level and TDST Zone (using default TDST + TDST origin)
However, something like MSTR has price flipped and failed to qualify upside DeMark propulsion on the daily after completing a TD 13 Combo. This stock works incredibly well on market timing mechanisms like TD. I’m short some bitcoin outright since we have similar setups there, but I missed the entry on this one but perhaps someone might find something to do here as we should target 230 on the weekly Range projection for MSTR.
Lastly, the strength in the dollar can’t be underestimated right now. How we held the DeMark Trend Factor levels was not exactly bearish. Today’s cash session really felt like some central bank was intervening in the afternoon and the dollar is now sitting strong in the asian session.
Look, if the dollar remains firm, we could see USDJPY easily hit the second trend factor and DeMark Setup Trend level at 141.3. Now that is a bit optimistic, so I think we can focus on 137.8 for weekly TD Range Projection.
Best of luck,
P