Paychex (PAYX) Stock Forex Signal 14/07
Short Trade Idea
Enter your short position between 140.83 (the intra-day low of a previous harami candle that led to a small advance) and 144.17 (the lower band of its horizontal resistance zone).
Market Index Analysis
- Paychex (PAYX) is a member of the NASDAQ 100 and the S&P 500.
- Both indices trade near record highs driven by the AI hype, but technical cracks suggest caution ahead.
- The Bull Bear Power Indicator of the S&P 500 shows a negative divergence.
Market Sentiment Analysis
US President Trump announced higher-than-expected tariffs of 30% on key trading partners, the EU and Mexico. It could lead to a 20% blanket tariff on all other countries that did not receive a letter, twice the rate markets warmed up to. While markets focused on…
