LagunitaLLC

SP500 (04/02/2020) - A short bounce following by a drop

SP:SPX   S&P 500 Index
FA
Key things we use to forecast:
+ Unemployment claims data will be released at 8:30 am.
+ US Covid-19 caves have surpassed 200,000
+ Asian and EU markets
Things that Trump did to cover the unemployment rates and pay cuts:
+ The Government issued a loan called "PPP". The goal is to relieve the Cov-19's impact on the economy.
+ How to qualify: any businesses that filed taxes and having employees. Employees must not file for unemployment claims or Cov-19 disaster benefits.
+ Loan can be forgiven if the employer pays wages for employees or essentials.
+ SBA Loans for businesses ($10000).

TA
There will be a short bounce during pre-market, then a drop. This happens naturally.
DO NOT SELL YOUR SHORT POSITIONS DURING PRE-MARKET.

Good luck.