TradingView
LagunitaLLC
May 1, 2020 3:38 AM

NASDAQ (05/01/2020)- Sell in May begun! Short

US 100 IndexTVC

Description

FA
-Unemployment claims reached 30 million.
-Covid-19 spiked before the re-opening in Texas. The curve hasn't fully flattened yet (Dr. Fauci)
-FAANG stocks have already reported their earnings.
-People are taking profits.
-FED 500 billion short-term pumps at 8:15 am.
-Sell in May is happening when most of the profitable tech companies have reported their earnings.
-FED start to slow down their securities purchasing.

TA
RSI is having a lower-high. Formed a completed "M" => Bearish
Squeeze indicator is suggesting a bearish squeeze with a large volume.

Bottom line: Short every bounce.

Thank you.
Comments
krishuang57
What do you think of holding a short position over the weekend?
nevermadeapenny
@krishuang57, personally, I am not even comfortable holding a position over a nap in this market condition
Pichi88
LagunitaLLC
@krishuang57, dangerous
c448ad7d3f4d42daafb627c816c23c
Thanks for your neat and meaningful containt . Describes very well the reasons for a downturn of the market.
More