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No idea up or down from here. If bulls are able to test the line above then breakout would be more likely than gets rejected again.
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JPM estimates: month and quarter-end rebalancing… balanced or 60/40 mutual funds...need to buy around $300 billion of equities to fully rebalance to 60% equity allocation.
Also, defined benefit plans, would need to buy $400 billion to fully rebalance and revert to pre-virus equity allocations.
Finally, the "balanced" sovereign pension funds ... would need to buy around $150 billion equities...
While JPM admits that the timing of these rebalancing flows is uncertain,
it is likely to take place over the coming days and ahead of March 31.
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
How will the company’s who did buybacks reflect losses on the PnL and Bal Sheets?
Purchase was credit to cash acct, debit to ??? And then what on PnL?
Or does it even matter??
Breakout on the downside with strong bear bar in the next couple of bars then it could be a downtrend day although personally I'll treat it as a range day since it'd be mostly within the yesterday's range.
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So it's just a range day. The range low probably was in, seeking the range high, assume the day high for now.
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