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LagunitaLLC
Apr 24, 2020 2:41 AM

SPX (04/24/2020) - Wait for break-out p2 Short

S&P 500SP

Description

FA
-Trump extended social distance guideline
-Airlines reported losses in revenue
-Unemployment is now over 26 million people.
-Highest death toll from Cov-19 today.
-484 billion bills have been passed
-EU consumer confidence index felt into a low record.
-Tech companies are slowing down hiring.
-Second wave of lay-off is coming.
-Gilead's drug has failed expectations
-Foodbank is overwhelmed (Please help them if you can)
-FED all-out money injection: 500 billion operational injection+ 1 trillion repo (04/24/2020). The same thing will happen on Monday.
newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/repo-reverse-repo-agreements/repurchase-agreement-operational-details

TA
-RSI moving down
-The squeeze indicator is preparing for a high volume movement downward.
-Higher volume is expected
-Closing high
-The bearish trend is confirmed if SPX is down to 2780 level

Good luck and thank you for your supports.

Comment

A rebound in the final hour

Comment

It broke. However, FED is trying to prevent the crash today. SPX will crash next week instead (not Monday for sure).
Comments
Aurelie217
It is really interesting to watch Feb's pumping changing from several times a week, to one time a day, then several times a day... Wondering what's the limit they can do...
elliotcule
@Aurelie217, QE UNLIMITED
LagunitaLLC
@Aurelie217 they just recycle their “artificial money” over and over again to have buying power.
SunnyG18
@LagunitaLLC when you say recycle, do they pull it out of the market at some point? Does that create a bearish trend at all?
LagunitaLLC
@SunnyG18, yes. Final hour of market each day
rodfraja
what's your opinion on volatility moving forward?
LagunitaLLC
@rodfraja up by 1pm
elliotcule
@LagunitaLLC, with european market close. BRAZIL ETF is so fucked..
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