S&P - The Herd

Browsing the SPX, SPY and ES articles I am finding most have similar lines drawn. We all see it. The upward channel, resistance levels, EMAs, the $3,000 level, all of it. All with the same short call.

I'll look for a convincing sell off followed by a bullish daily candle close to open a long otherwise, I'll be on the sidelines.

Comment:

It's fairly obvious Covid cases will ramp up in the US as we reopen without ever having imposed travel restrictions. Our culture is partly composed of those who either don't take it very serious or think it's a hoax. It only takes a few to get the corona balls rolling. The impact on New York moving forward will likely determine what the market does so that's what I am watching to figure out the next move.

www.worldometers.inf...onavirus/country/us/

Comment:

New York is finally imposing travel restrictions from "Covid hot spots". Listen, as I type this I am on a remote island with those same restrictions and let me tell you, authorities have a hard enough time tracking this handful of people coming in. New York can fuh-get about it.