Just in the uncharted territory the Forecasting Method based on the techniques of W.D. Gann offers some excellent possibilities for determining the targets precisely. Frequently, not only the expected price can be forecast in advance, but especially the very moment when the expected price should be reached can be projected as well.
Once again, most of the US stock market major indexes have soared up to record highs after Fed chief Powell signaled that a July rate cut is sealed. Our urgent goal is now to make the most of this likely underway bullish exhaustion cycle, effectively. Actually that means – we've got to make safe money.
Since the beginning of the year, regarding important extrema and turns the US stock markets have been following the average pre-election year course in the US presidential cycle in a noticeably significant way.
In the chart below, the blue line represents the average Dow Jones Industrial Average performance of a pre-election year in the US presidential cycle from 1900 to 2016. And beyond any doubt this year 2019 orange highlighted S&P 500 course mirrors blue 116y-seasonal pattern EXACTLY up-to day.
Color-coded and emphasized by notes, you find the S&P 500 turns and important extrema in 2019 up today and since made late-May cycle bottom which nailed an important higher 2019 low that came in in full sync to the "regular..." "always-coming..." pre-election year late-May turn date it became obvious what the market for us traders and investors has in the bag:
Some more alltime-highs and likely a very decisive cycle high on yearly base, which "normally" will take place towards the end of July..., around then when Powell will announce the first rate cut`s since years on July 31!
==> Expect MAJOR US stock market rally highs towards end of July!
And with the FANGs Facebook, Amazon & Alphabet (Googl) also back in strong bull mode and a Microsoft on fire printing one ATH (alltime-high) after another and Apple perhaps close to a next sustainable buy signal on the daily &&& other Tech Sectors remaining strong like the Semi`s this should happen next for QQQ ETF: ==> Big Round 200$ W.D. Gann attraction with a +90% probability will be worked off towards end of July 2019, respective in further course of July 2019:
On weekly closing base the QQQ ETF for the very first time closed above highlighted rising thin red-dotted alltime-high resistance rail best seen in the weekly chart. A next very strong rally signal on weekly closing base and this leads to the outcome that the Big Round 200$ is omnious and obvious next uptarget for this rally.
==> Weekly QQQ chart shows that previously activated nearest evident GUNNER24 Uptarget is lower line of 2nd double arc within above at Xmas Low anchored GUNNER24 Up which depicts resp. collects some very important price extremes/price events that I have highlighted with the orange arrows and which together are 100% directly related mathematically.
Shortterm, midterm, longterm trend are in bullish agreement, market prints higher highs – higher ATH`s -, and higher important lows. Next due most important obvious time event = time magnet is 07/31 rate cut date and most obvious upward magnet of Big Round 200$ and activated lower line of 2nd double arc uptarget exactly unite then and there.
With all the most important Tech Giants bullish and the 200$ major upmagnet just 3% off the current quotatios, it seem illogical that the 200$ QQQ major price attraction should not be reached within running daily and weekly upcycle!
==> Shortterm uptarget for QQQ ETF at 200$! Pre-Election Year seasonality points to that a 200$ for QQQ could come true July 22-26, for then this this probably pretty defining cycle signals important bullish 2019 extreme is due. Followed by the outcome that the US stock markets should first correct for at least some weeks (5?? to 8??, perhaps up to even 15 week candles??) ...
A) Accumulate for next week long positions at any coming long signal in the 4 or 8 hour setups respectively (significant breaks of the double arcs). In the lower daily chart, enter in case of a pullback into 192$-191.60$ till Wednesday:
B) Always drag the SL sensibly. In the daily time frame it is always the last important rally swing low. That is extremely important in a bullish exhaustion cycle or in the Panic Buying swing and especially in the Tech Market because at the end of a bullish exhaustion they watch out for ransacking any trader.
C) The day traders and the scalpers should buy at any shortcoming at the double arcs – depending on the time frame – and at the double arcs lying above, they should take along their profits.
D) Even the day traders and the scalpers, still on Monday and Tuesday should put up their positions keeping them until the end of the week.
For trading the daily time frame, please use above shown 7 Candle up that starts measuring upwards at 06/03 next important cycle low on daily, weekly and monthly base. Evidence that market is oriented to the setup is former 191.44$ alltime-high exactly made at lower line of 1st double arc natural uptarget/natural bull resistance. That pinpoint backtest of previously finally overcome Blue Arc resistance on day low base is a textbook.
The line (or "pivot") which is most important actually and since April 191.32$ ATH is the dark-green dashed one, which represents a slightly rising ATH resistance and previous Double Top resistance rail, now a first very important ATH support rail and daily Double Top support.
This "2019 ATH Double Top rail" usually should offer stronger initial support the coming days because it is now fairly overcome on weekly closing base what is uber bullish stuff resp. a nextGUNNER24 Buy Signal on daily base.
Also the overall 1st double arc resistance environment is now finally cleared to the upside by the highest bull market closings ever. And accordingly the QQQ`s now might rally hard into lower line of 2nd double arc uptarget = daily uptarget which fit`s accurately and oviously with the 200$ major attraction at the end of July 2019. Sic.
==> 200$ is Big Round upmagnet number and also a combined daily and weekly GUNNER24 Upmagnet!
All this I wrote and recognized is just bullish stuff, to be more exact ==> a massive bullish looking market which could reach 200$ - AT LEAST!!!- within next 14 trading days or so. Yeah, the Tech Stocks are expected to be on the brink of an according to experience 6 to 12 trading days lasting Panic Buying Cycle.
Such would be a quick & relative strong daily upswing, the then likely very last hurray for US stock markets and the QQQ´s into important 2019 rally highs. That`s why we should hardly recognize stronger pullbacks or retracements (price & time) until the anticipated end of July cycle highs have been achieved!