The stimulus package will pass, we will retest resent lows in the coming days and if they pass it and the news turns to how we are getting the economy back on track will favor the bulls. The bears have tasted blood and the charts will tell us if the bulls are strong enough. Dangerous territory actually, trader's paradise evaporated with the Fed changing the rules and governments worldwide wanting to assist in fixing this. Nobody wants a little bat to have taken down the world economies. 50/50 from here depending on:
1. How fast the stimulus gets confirmed
2. How fast people get real money
3. How fast the death curve flattens (still at just 20K today worldwide while the common flu takes 10 times that per year!) There's a bit of a reality check that needs to happen but nobody wants to be responsible for bodies piling up. But financially, we have a LOT worst than a 1-3% mortality virus that's causing havoc.
Critical times. There's a fork in the road here. Staying cash overnight remains a prudent choice for true traders.
1. How fast the stimulus gets confirmed
2. How fast people get real money
3. How fast the death curve flattens (still at just 20K today worldwide while the common flu takes 10 times that per year!) There's a bit of a reality check that needs to happen but nobody wants to be responsible for bodies piling up. But financially, we have a LOT worst than a 1-3% mortality virus that's causing havoc.
Critical times. There's a fork in the road here. Staying cash overnight remains a prudent choice for true traders.