Just a reminder that if the market manages to finish up today the trading markets short setup will be triggered. It does not mean a trend reversal, but it usually works in my experience. I hope it triggers because Monday tends to be ugly as the coronavirus numbers from the weekend come in.
Bias, opinions, on different asset classes. DBC flat. GLD flat. IYR looks like it wants to go up, but is beneath the EMA 20. SPY looks like it wants to go up, but is beneath the EMA 20. TLT looks like it wants to go up. USO maybe down. UUP, hanging at the EMA 20. Downward? Much uncertainty. Just in my opinion.
Charts posted are not recommendations. They are just a sharing of information.
[Saxo Bank]
Yesterday's close in SPX marked a 17.6% gain in three trading session something we haven't observed since the 1930s.
is a big move an indication of further gains?
… we analyzed all future paths in SPX over three months following a 10% gain or more in three trading days.
There has been 36 cases of the SPX moving this much since early 1928. We find 32 of these observations in the period 1929 to 1939 and the remaining four observations during 2008-2009: https://www.zerohedge.com/markets/1930s ... to+zero%29
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Al_Dente wrote:The Business Insider poll, conducted online this week by SurveyMonkey, asked who are the most trusted Americans when it comes to information about the coronavirus outbreak.
Dr. Anthony Fauci scored a 3.84 out of five
Governor Cuomo scored a 3.29 out of five
Trump was down the list: 2.59 out of five. More than half of respondents (55 percent) rated Trump a one or a two.
This is at odds with the recent mainstream-media poll that showed 55% potus approval rating.
Did Joe Biden make the list of most trusted Americans when it comes to information about the coronavirus outbreak? .
I think it's C&H instead of double top here, let's see.
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Al_Dente wrote:...most trusted Americans when it comes to information about the coronavirus outbreak. Dr. Anthony Fauci scored a 3.84 out of five; Governor Cuomo scored a 3.29 out of five; Trump was down the list: 2.59 out of five. More than half of respondents (55 percent) rated Trump a one or a two.
This is at odds with the recent mainstream-media poll that showed 55% potus approval rating.
Actually, statistically, it needn't be at odds. Perhaps a score of 2.6 (a middling score) equates to about a 55% approval rating. Using that metric Dr.F and Gov.C would be at like 78% and 73% respectively. Just broadly speaking.
WHY is IYR so strong today? What is THAT saying?
It's still above yest's high, even tho it's been a laggard (well below its daily 20ma) and laggards are languishing today.
Lots of sectors battling to touch or stay above their daily 20ema, not many successfully.
IBB is one. JNK had been above it, today, is now again below.
Both SPY and QQQ are right near yest's high--except for that final 15min bar big extension ramp up into the close.
IWM didn't have that huge a final spike.
Coolbiz1 cites "Uncertain price action" that has his EW approach currently flat, after (very deftly) shorting, these past couple days.
..update: all 3 majors holding above their (upslope) 15min 20emas as they head twd the end of the week. A close anywhere around this level would have to be considered "bullish resilience".
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