Whilst I'm for technical analysis very much, I also know it is not 'reality'. There is a reality of fundamental issues - too many to mention - that is eating away at economies and financial systems around the globe. According to XXXX (nameless for house rules reasons), we're into the 50-75 year cycle for global depression. The IMF has called it a global recession - at this time (because they don't get into projections too far into the future). The technicals are likely to be ruled by fundamental (reality) issues in the longer term. Unimaginable projections such as 80% are forecast by persons with far deeper real insights. Some will do their own research and not see.
Mortgage Defaults Could Pile Up at Pace That Dwarfs 2008
As many as 30% of Americans with home loans – about 15 million households –- could stop paying if the U.S. economy remains closed through the summer or beyond, according to an estimate by Mark Zandi, chief economist for Moody’s Analytics.
“The great financial crisis happened over a number of years. This is happening in a matter of months -- a matter of weeks.” said Susan Wachter, professor of real estate and finance at the Wharton School of the University of Pennsylvania.
Mortgage apocalypse. LOL.
Don't mention rates rising. LOL
Captain_Walker
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@Felix000, Well said. Trump et al and many other powerful folk are talking already about relaxing restrictions and opening up the economy. All that talk is just to send the markets north - as you know their big boys profit well from all this stuff. Think REPO.
World leaders are gonna get a dose of painful reality i.e. you can fool most of the people all of the time but not all of the people all of the time.
Listen up - the latest research is showing that COVID-19 is resembling in behaviour that of a herpes virus i.e. people who were previously infected and were cleared by tests, then turn positive again. Think about what that means if facts are ignored, and economies are re-stared before a true clearing of the virus. It simply means the second wave of the virus is gonna be even bigger than the first. One does not need to be a doctor or virologist or financial expert to understand any of this. Did I say COVID-19 is related to herpes virus? I did NOT.
The next issue that our leaders will discover - as if we don't already know - is that COVID-19 has been found hiding in pets. Pets are animals (most times). COVID-19 emerged from animals; namely bats. So this virus is very sneaky. It may run and hide in animals then re-emerge. Some will forget that I said any of this - when big media comes out with it in a few months.
The point is that politicians and bankers are in cahoots. They're obsessed with preventing the mother of all financial crashes, by pumping markets with cheap cash. The idiocy of the whole thing is that they seem not to appreciate that this virus is about people! The evidence is before their eyes - that people are the most important aspect of all economies.
The bottom line: expect pain for about 2 years (or more). Some live on hope - some live in the land or reality.
Felix000
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@Captain_Walker, Good points. Here are some charts which I've just started posting. Don't ask me why.
@Felix000, Nice charts.. as you know, I don't work on a predictions model. I'll go wherever the markets wanna go. Only 20% of all traders are true trend followers.