FA -Bullish factor: FED is considering a $600 billion loan package for corporations/ companies with up to 10 000 employees or sales up to $2.5 billion in 2019. GOOG earnings beat revenue 41.16 vs 40.2, but miss expectation on EPS 9.87 vs 10.38. This lead to a spike in google stock as well as a bullish factor in NASDAQ. This is matters because Alphabet is one of the 5 stocks which have a huge impact on current stock indexes (DJI, SPX, NASDAQ).
-Bearish factor: GDP will be released at 8:30 AM. Speculative buying leading to overpriced. The entire stock market rally is based on "hope". People will take profit from this spike. TA -Open high, close low. -A short squeeze up is expected -NASDAQ has been above the 0.618 Fibonacci for a while due to speculative buying on tech stocks. So when it drops, it will drop harder. -RSI lower-high, contrasting the stock market. -Breaking 8900 levels is possible. Until then, please be patient before opening a short position.
Insane market. Rally that much in 1 day. Not sure if only fed behind all of this
Pichi88
⋅
@ZaggVN, This is irrational. I feel completely lost on what to do... I never thought we can get into Fev 2020 levels and hight all the reality that is happening.
LagunitaLLC
⋅
@Pichi88, FOMO. Option traders. FED Repo. They will withdraw money out before the market close. So I don't expect a higher move from here.
qaneza
⋅
What is the Fed's logic? My siily aproach is that they trying to change downtrend by changing chart only?
LagunitaLLC
⋅
@qaneza yes. They trade young generation’s future to boomers’ cash
borislavrabrenovic
⋅
Do you expect during fed press conference to continue up or???
LagunitaLLC
⋅
@borislavrabrenovic rate unchanged. $600 billion relief package for large corporations (for stock buyback mainly)