The S&P 500 will tell us what it's up to.
Many pendulum variations between center, upper and lower channel wall on the way down are conceivable.
It is important not to lose sight of the essential.
Many pendulum variations between center, upper and lower channel wall on the way down are conceivable.
It is important not to lose sight of the essential.
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It is interesting to see how US equities dump their shit on the rest of the world during non-trading hours. Already in the pre-market the price starts to decline. Let's see if this state of affairs continues. Sometime even the dumbest ones learn (when the money runs out).
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In general, until we know better and the channel has been breached: buy the shit on the lower channel wall and sell it on the upper one. It's not a trade order, just an idea. Act on your own responsibility!
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As I wrote 3 days ago, did you notice this in today's trading session as well?
In the non-trading, low volume hours, as in the Asian trading session, U.S. futures are pushed to the max, then they fall, and then "someone" (we will not name names) desperately tries to force the daily close above the previous record high of 3386.15 on February 19, 2020, before the outbreak of the coronavirus crisis.
Unfortunately, it did not work out today again... Daily close: 3383.5.
Well, tomorrow a new attempt can be started.
Maybe there will be enough fools to buy this rotten crap.
In the non-trading, low volume hours, as in the Asian trading session, U.S. futures are pushed to the max, then they fall, and then "someone" (we will not name names) desperately tries to force the daily close above the previous record high of 3386.15 on February 19, 2020, before the outbreak of the coronavirus crisis.
Unfortunately, it did not work out today again... Daily close: 3383.5.
Well, tomorrow a new attempt can be started.
Maybe there will be enough fools to buy this rotten crap.
Comment:
After yesterday's speech by Fed Chair Powell, the daily closing price was 3385.5, which is all you need to know (< 3386.15).
How come? It was such a nice speech. I personally believe that Powell did not come across convincing enough that the Fed could achieve its inflation target.
Plus, many spoilt, "to infinity and beyond" addicted Wall Street market participants surely had expected cautious indications of a possible increase in bond purchases in the near future, but there were none.
Stick around. We will see.
How come? It was such a nice speech. I personally believe that Powell did not come across convincing enough that the Fed could achieve its inflation target.
Plus, many spoilt, "to infinity and beyond" addicted Wall Street market participants surely had expected cautious indications of a possible increase in bond purchases in the near future, but there were none.
Stick around. We will see.
Comment:
This is pretty bad, my boy, this is much worse than we know. Get your stuff and run. Run for your life. I'm sorry, I don't want to cause a panic, but sitting idly by is also kind of stupid. I thought I'd better let you know in time.
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The S&P 500 is an old ponderous index.
It needs its time to tell us something clear.
Let him have it.
It needs its time to tell us something clear.
Let him have it.
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So far, it keeps telling us that it is falling further and further. No more and no less.
This could look comepletely different tomorrow morning, so be alert and open to reality. Do not build castles in the air.
This could look comepletely different tomorrow morning, so be alert and open to reality. Do not build castles in the air.
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Looking at it very long term: the month closed red yesterday. The monthly RSI is still 61.7. From my point of view there is plenty of room downwards until the red line is checked
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Update re. the "Trump Tests Positive for the Coronavirus" news