06/29/2020 Live Update

[Al_Dente]

Inexplicably, SMALLS have been leading all day

[JFR]

QQQ daily, Point and Figure.

[BullBear52x]

bullish reversal but no daily HH, so, bearish bias to continue. good bullish sign but one day doesn't make a trend.

[BullBear52x]

I am selling now.

[BullBear52x]

Inside day, bullish piercing all the way to 61.8% but looks like it stalled there. sell day for me until we can regain back above 5 DMA

[BullBear52x]

'The Fed on Sunday identified 794 companies whose bonds it will be buying directly to support the market for investment-grade corporate debt. Apple, Verizon, AT&T, Toyota, Volkswagen and Daimler accounted for 10% of debt the Fed is supporting.' [WSJ]

HYG is still pointing south boss.

[Al_Dente]

'The Fed on Sunday identified 794 companies whose bonds it will be buying directly to support the market for investment-grade corporate debt. Apple, Verizon, AT&T, Toyota, Volkswagen and Daimler accounted for 10% of debt the Fed is supporting.' [WSJ]

HYG is still pointing south boss.

Hi Boss
""" support the market for investment-grade corporate"""
See LQD (and TLT too)

[BullBear52x]

'The Fed on Sunday identified 794 companies whose bonds it will be buying directly to support the market for investment-grade corporate debt. Apple, Verizon, AT&T, Toyota, Volkswagen and Daimler accounted for 10% of debt the Fed is supporting.' [WSJ]

HYG is still pointing south boss.

Hi Boss
""" support the market for investment-grade corporate"""
See LQD (and TLT too)

Soft landing control, but people still loading up on these turtle fund.

[Al_Dente]

.............

[Al_Dente]

THESE ARE SOME OF THE BIGGEST 794 CORPORATIONS ON THE FED’s GIFT LIST
https://zh-prod-1cc738ca-7d3b-4a72-b792 ... k=OiNyOO8T
“The PMCCF [Primary Market Corporate Credit Facility] is operational and available for use beginning June 29…. by standing ready to provide credit to qualifying issuers of corporate bonds in periods of stress, the PMCCF serves as a funding backstop, supporting market liquidity and the availability of credit for large employers."
[per the NY Fed]

zh: In other words, if "large employers" - who at this point can sell junk bonds at about 4% yields - need a few hundred million in taxpayer-guaranteed funds, they just need to make a phone call to the NY Fed and the central bank will promptly wire them the funds, with its blessings. And what happens if the company suffers devastating losses and the loans are impaired? Why the Treasury ends up getting wiped out on its investment. And by Treasury we of course mean taxpayers.

[BullBear52x]

for price action today, so far bulls lost morning high and about to tank back under 38.2%. bulls need to close higher than 3044 at the minimum or I would like to see >61.8% to say there is something under their sleeves for tomorrow.

[Cobra]

Members only update at 3:36 pm
http://www.cobrasmarketview.com/2020/06 ... ay-update/

[Al_Dente]

'Combined, Facebook, Amazon, Netflix, Alphabet, Apple and Microsoft ... make up 48% of the Nasdaq 100.'
[Bloomberg]

[BullBear52x]

ES 3020 is still a key line, any one trading overnight it is DE LINE to pay attention to.

[BullBear52x]

On the Monthly candle, Gravestone Doji is in the making for this month? not very bullish folks.

[Cobra]

Members only update at 3:52 pm
http://www.cobrasmarketview.com/2020/06 ... ay-update/

[Cobra]

Well, guess that's it for today. Here's what Tuesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449374

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449374

[JFR]

SPY 5. Up 4.51 for the day. "That's all, Folks."

[Heck]

DIA SELLING < 255.25
QQQ SELLING < 243.23
SPY SELLING < 304.86
AH

[Al_Dente]

Text of Powell's prepared testimony for tomorrow:
https://www.federalreserve.gov/newseven ... 00630a.htm