SPX (05/14/2020) - Will FED announce something huge tomorrow?
FA
-FED and other central banks are discussing a solution to stabilize the market. However, investors will have to wait for their decisions. Most central banks are keep rates at 0%, still, market wants negative rates. More programs will be announced soon. Please keep in mind and create an exit plan for short positions, just in case.
-US debt + deficit are continuing to rise. Bad for businesses and bad for America.
www.wsj.com/articles...gh-april-11589306525
usdebtclock.org/
-Weekly jobless claims are expected to be 2 million this week.
-CA extended the "stay-at-home" order (varies from counties to counties).
-More trading data ahead
tradingeconomics.com/calendar
-There was a big movement of capital from Stocks to Bonds. Stock market will be lowered and bonds yields will also be lowered. US10Y now is back to 0.6%.
TA
-Right shoulder for a big HS pattern is completed. If this plays out with no interception, market will plunge by at least 3%.
-SPX will re-test 2790 level, if this is broken, SPX will proceed to fill the gap at 2760 (small bounce expected after).
-Squeeze + RSI is trading in bearish trend, expect to see a small reversal: Bullish
-SPX is trading below 200 day moving average: extremely bearish.
-SPX is trading below general moving average (exponential): bearish.
-Volume: high.
-Target price without any artificial pumps: 2780 EOD.
Good luck and have fun.
-FED and other central banks are discussing a solution to stabilize the market. However, investors will have to wait for their decisions. Most central banks are keep rates at 0%, still, market wants negative rates. More programs will be announced soon. Please keep in mind and create an exit plan for short positions, just in case.
-US debt + deficit are continuing to rise. Bad for businesses and bad for America.
www.wsj.com/articles...gh-april-11589306525
usdebtclock.org/
-Weekly jobless claims are expected to be 2 million this week.
-CA extended the "stay-at-home" order (varies from counties to counties).
-More trading data ahead
tradingeconomics.com/calendar
-There was a big movement of capital from Stocks to Bonds. Stock market will be lowered and bonds yields will also be lowered. US10Y now is back to 0.6%.
TA
-Right shoulder for a big HS pattern is completed. If this plays out with no interception, market will plunge by at least 3%.
-SPX will re-test 2790 level, if this is broken, SPX will proceed to fill the gap at 2760 (small bounce expected after).
-Squeeze + RSI is trading in bearish trend, expect to see a small reversal: Bullish
-SPX is trading below 200 day moving average: extremely bearish.
-SPX is trading below general moving average (exponential): bearish.
-Volume: high.
-Target price without any artificial pumps: 2780 EOD.
Good luck and have fun.
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