Price Action Reversal on Horizon -Chart
Long Trade Idea
Enter your long position between $65.24 (the lower band of its horizontal support zone) and $68.19 (yesterday’s intra-day high).
Market Index Analysis
- PayPal (PYPL) is a member of the NASDAQ 100, the S&P 100, and the S&P 500 Indices.
- All three indices trade near all-time highs without volume confirmation.
- The Bull Bear Power Indicator for the NASDAQ 100 shows a negative divergence and does not confirm the uptrend.
Market Sentiment Analysis
Equity markets continue to climb a wall of worry fueled by hopes that interest rate cuts by the Federal Reserve will suffice to reverse the sliding job market and spur capital inflows from money market funds, where over $7 trillion earn reasonable risk-free…
