25 Mar 2020 - Climatic run up with increasing volume followed by biggest down wave with highest supply. Bearish reaction with slow grinding down move during non-regular trading hour (RTH). Could it be preliminary supply?
26 Mar 2020 - Another climatic run up after shocking number of jobless claim (think this ugly number will pressure the House to approve the bill?) ES broke above 2550 with fading volume. Possible exhaustive demand?
Key levels to watch - First line of support - 2550, 2nd support- 2400, If stays above 2550, should challenge 2700.
Will add monthly puts if reach 2700, things are getting really bad people dying and some $1250 checks will not solve the problem. Until wee see flattening curves of new cases we at least need to test the bottom.
lauraanto21
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thank you. 2620~2650 very strong resistance, may have selloff end of day Friday
mingjong
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@lauraanto21, yes. Scenario of selling into strength upon the approval of the bill should be considered.
lauraanto21
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@mingjong, However watch for some squeeze like end of day price action. getting stupid again