Daily chart of NAS100 – the all-time high a whisker away
I have covered a number of charts, reviewing the technical set-ups, as well as the price action, and I hope they portray the fundamental narrative.
Click here to watch – https://youtu.be/XK55Hw-ObnI
The bullish trend is obviously mature, but it is not over loved and regardless of the asset class or instrument I am not seeing euphoric conditions yet, which is bizarre given the extent of the moves.
Granted, we are going to start seeing profit-taking from various factions of the market participants but the trend followers, many who are making a killing in the market, will not get out until their rules dictate. These trends end and we see funds moving out of longs when the bond market sells off, and real yield moves higher. For me, that is key, as I feel it is for the USD. For those who missed my dive into the greenback, here is the link – https://pepperstone.com/en-au/market-analysis/usdx/
*I have taken profits in CADJPY ahead of tonight’s BoC meeting but will update any new ideas on Telegram or tomorrows note.