📪 NEWS TO LOOK OUT FOR TODAY AND HOW IT WILL MOVE THE MARKET 📭
- IPhone 12 Pro is $100 more expensive than the IPhone 11 Pro: people can’t afford it, weak economy, no approved stimulus.
- Trump’s stimulus offer didn’t meet requirements: when stimulus does get approved stocks will sky rocket.
- Amazon prime day today, expect Amazon to rally: German Amazon...
07/20/2020 NEWS FOR NASDAQ
- Trump halts stimulus, stocks fall drastically which represents that the market is heavily dependent on a stimulus.
- Trump immediately counter acts his tweet to a much lower stimulus. Why? Well because he is heavily dependent on the success of the markets - I assume he tried to repair the damage of the stocks after the the sell off...
NASDAQ SETUP - I don’t see any fundamentals that should drive nasdaq down besides fear in the market from the sell off, covid cases, no vaccine and no news on stimulus. These have been constant fundamentals since the bull market so unless fear strikes again I’m looking at this buy setup.
FOMC AND RETAIL SALES MoM, so heavy day for the stock market. Based off news I'm leaning towards buys all though the fact that the stimulus has not been resolved yet is concerning for future economic sustainability.
Looking at buying Nasdaq at respective zones, mainly because of fundamental news and a confirmation with an inverse Head and Shoulders pattern.
Projected TP is 11560, if broken I'm seeing 11800/12000.
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We are seeing another rally due to vaccine hopes as well as the potential purchase of a cancer research company from Gilead. Also some more news later this week from Apple and Tesla which could potentially lead to another rally.
Right now I'm waiting for price to fulfil this gap and then make a decision based off how price reacts to this zone, currently selling...