I think the worst has yet to come to the markets, as we are discovering the real impact COVID-19 has on the economy. Right now US30 and other indices appear very inflated.
After testing some highs, I am looking to short US30 trailing stopping it to previous March lows.
• US-China trade war tensions still lingering
• Lower daily highs
• Sluggish easing of COVID-19 regulations
• Rising gold prices
• Dismal US economic data released this past week
• Huge losses in earnings of major companies
• Less consumer spending
• More money printing
• Possible second wave of COVID-19
• RSI divergence on the daily chart
• Possible W pattern formation
What are your thoughts and comments?
Happy trading!
After testing some highs, I am looking to short US30 trailing stopping it to previous March lows.
• US-China trade war tensions still lingering
• Lower daily highs
• Sluggish easing of COVID-19 regulations
• Rising gold prices
• Dismal US economic data released this past week
• Huge losses in earnings of major companies
• Less consumer spending
• More money printing
• Possible second wave of COVID-19
• RSI divergence on the daily chart
• Possible W pattern formation
What are your thoughts and comments?
Happy trading!