CompassCapital

CompassCapital

Despite massive stimulus, markets so far had trouble following through. We are now in "the trenches" of various trendlines. Although markets are heavily oversold on a medium-term basis, I suspect we are seeking a double bottom or are at least correcting the recent advance a bit. As massive stimulus is lingering in the background, one has to be very careful now...

CompassCapital

As the S&P is strongly oversold on weekly and daily timeframes and also have hit the 33% retracement of the 2009 bull market as well as the 2009 secular uptrend line, and we had major stimulus announced, we belive this rebound should last a bit. Once the US realizes that COVID-19 will spread further in the US and likely can't be contained as effectively as...

CompassCapital

Despite Rate Cut and ongoing "non-QE" which - since last September has reached about half a trillion USD in size, market continue to sell off due to the ripple effects that the Corona Pandemic will pose on global supply chains. A first plausible interim support area would be around 2780: • 23.% Fibonacci retracement of the entire bullmarket since...

CompassCapital

A recovery rally in a larger volatile range within a late cycle environment and among deteriorating global macro data. Take some profits now. There might be a bit more upside, but it's not worth it.