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No idea up or down from here. The rebound overnight can be seen as a double bottom but if sharp pullback from here then it's a lower high trend reversal. So kind of key time. My guess is a range day.
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Testing yesterday's low, break down then bears may have chance making a downtrend day. Usually should be a rebound but since it'd be mostly within the yesterday's range so it'd be a range day to me no matter what.
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PROBLEM:
BABA and BIDU are the China “proxies” in the $NYFANG Index, weighted at 10% each (10 + 10 = 20%)
The Senate just passed a bill that would bar many opaque Chinese companies from listing their shares on U.S. stock exchanges or otherwise raising money from American investors. It now it heads to the House, and it may become law within the month.
BABA and BIDU “could be at risk of being delisted if this legislation were to pass.” https://www.marketwatch.com/story/bill- ... 2020-05-21
This is the $NYFANG holdings, 15m, see bottom row BABA, BIDU
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
The rebound likely means it's just a range day, even the low was in.
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