IYR closed yest right at its 20day ema. Today it gapped down well below it, and is down about -1.5%. JNK too gapped down, and is lower by about the same amount. JNK is barely staying above its 20day ema.
REITs and HiYield are two of the few areas where any shreds of income or yield can be found, and the appetite for them is enormous--so the current level of fear has to be even more enormous, for investors to stay away.
This is a little bullish-island gap, followed within two days by a bearish-island gap
That’s rare
note options traders (1/VIX) behind price
note FANGs on top panel, broke the approximate 5dma (and so did SPX)
5m
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
You lookin' for me? I like some of the ads on Cobra's site. Regarding Russian women online ... I'd rather not get involved with Russian mafia, as happened to a guy I know. Ha ha
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Charts posted are not recommendations. They are just a sharing of information.
Now let's see whether bulls can make a double bottom here. Break down with strong bear bar in the next 5 to 6 bars then it's a downtrend day.
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If you still are not sure whether it's a downtrend day, then the next couple of bars will be the 2nd chance to confirm. Strong rebound from here then some chances it'd be a range day, continue down the bulls are doomed for today until usually before the last hour.
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QQQ was down nearly 4% at the low earlier. Surely at this point a test of the 50day MA, a bit lower around 203, is inevitable... esp since that would represent a major gap fill as well.
Last edited by Daniel on Tue Apr 21, 2020 11:33 am, edited 2 times in total.
Mini rebound target, must exceed it before we can seriously talk whether bulls have chances or not.
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