FA -Unemployment weekly claims will be released tomorrow at 8:30 AM. Expecting to be around 3 million. -Policymakers (FED) are likely to take action to counter bad data and keep the market afloat. -US debt is now more than $25 trillion dollars, increased 1 trillion dollars within a month. US total debt is above 27 trillion dollars. usdebtclock.org/ - More bad economic data will be released. Please check the previous data. tradingeconomics.com/calendar -Transportation, Finance, semiconductor, REIT sector were getting crushed this morning (Check out Webull general data). -Covid-19 cases/death are increasing (Remove Newyork state, California, Washington from data to see the uptrend). worldometers.info/coronavirus/country/us/ -Technology stocks helped the stock market this morning. More and more people are buying tech -stocks. This is dangerous as the P/E ratio is off the chart. -FAANG stock are moving up beyond the V shape recovery and not slowing. People are buying these speculatively.
TA NDX closed above the daily moving average. Still bullish. RSI is showing a higher-low: bullish. However, this could be a big "M" indicating a bearish. Need to confirm with other indicators. The squeeze is setting up for a big movement. DJT (transportation), XLF (finance- banking) closed below the moving average: very bearish. The target for NASDAQ tomorrow: 9000 mid-day, 8880 closing. Bottom line: Volatile day.