Checking back in with SPY at the moment. Check out our last post for more of a Fundamental Analysis.
Moves we were watching:
1. A break outside the wedge
2. The 290 price range
Move #1 has occurred.
Feels like we're taking crazy pills: Unemployment is sky rocketing, restaurants and bars are empty, Cruises are docked, Airplanes are empty, hotels are unbooked, malls are closed, no cars are being sold....and somehow stocks have been going up. Anyway, we're just looking at the TA on this one.
TA:
1. Volume has been decreasing while price has been increasing: Bearish
2. A rising wedge has just been broken: Bearish
3. SPY failed to break the 200 MA (so far): Bearish
4. MACD heading lower: Bearish
5. RSI starting to turn towards the downside: Bearish
Rates are at 0-0.25. How much more is the Fed going to pump to keep this ride going before we're paying $10 for a cheeseburger at McDonalds by years end?
Wouldn't be surprised if we see negative rates and a bunch of corporate debt bought when all is said and done.
Hit us with a like and a follow for more updates. Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
Moves we were watching:
1. A break outside the wedge
2. The 290 price range
Move #1 has occurred.
Feels like we're taking crazy pills: Unemployment is sky rocketing, restaurants and bars are empty, Cruises are docked, Airplanes are empty, hotels are unbooked, malls are closed, no cars are being sold....and somehow stocks have been going up. Anyway, we're just looking at the TA on this one.
TA:
1. Volume has been decreasing while price has been increasing: Bearish
2. A rising wedge has just been broken: Bearish
3. SPY failed to break the 200 MA (so far): Bearish
4. MACD heading lower: Bearish
5. RSI starting to turn towards the downside: Bearish
Rates are at 0-0.25. How much more is the Fed going to pump to keep this ride going before we're paying $10 for a cheeseburger at McDonalds by years end?
Wouldn't be surprised if we see negative rates and a bunch of corporate debt bought when all is said and done.
Hit us with a like and a follow for more updates. Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
Comment:
Update: Just as I posted, the House just passed another relief bill for $484 Billion
Comment:
Big earnings reports we're watching:
Alphabet (GOOG)
Facebook (FB)
Microsoft (MSFT)
Boeing (BA)
Caterpillar (CAT)
Tesla (TSLA)
3M (MMM)
Alphabet (GOOG)
Facebook (FB)
Microsoft (MSFT)
Boeing (BA)
Caterpillar (CAT)
Tesla (TSLA)
3M (MMM)
Comment:
SPY is approaching the bottom of the Wedge channel which is broke out of which is now resistance and also coming up to the 200 MA.
Comment:
Awaiting Job Report Friday to see if we have any changes