I believe it’s due to knowing the lack of reports that can be bearish this week. There is a limited trading week as well. Bulls trying to take a on bears for this reason. It seems that bulls rally on even the slightest good news and totally ignore the broad market that is generally very bearish. Just because cases are not as many as expected does not cover the point the feds dumped $2tril into the markets and there are historical record numbers of unemployment claims right now. Rec to buy gold stocks and hedge with next week spy puts.
Good to hear some good news on the virus although we are far from out of the woods, hopefully the number of cases will continue to decline over the next few days. Taking some profits for my long positions for sure, I wouldn’t mind if I take profits too early though if we get more good news on the virus over the next few days
IWM (small caps) still in bear market, and IYT (transports) looks like it is too but the index may have made +20% from the bottom.
Well Zoom hacks are popping up now $ZM https://finance.yahoo.com/news/hack...-zoom-accounts-on-the-dark-web-161442319.html
markets are an equal opportunity dream destroyer. a majority of people have been bearish expecting us to stay under various short term resistance levels, market blew through a lot of them today, lets see if there is more upside or if it is time for the bulls' dream to get destroyed on its way to 2700.
SPY, DIA, IWM have all had "death crosses". QQQ has avoided that so far, will it break above the 200 sma?
Well does this mean we are ready for round 2 in China? https://edition.cnn.com/2020/04/06/asia/china-coronavirus-tourist-warning-intl-hnk/index.html
Good Tuesday morning Stockaholics and welcome to a new day, fresh start! Here is this morning's pre-market news thread for those of you wanting to get a quick read before today's open- <-- click there to read! Hope everyone in here has a great trading day ahead today!
Good morning all. Been working from home for like 3 weeks now which means screaming kid the whole time. Thought I’d get to research stocks all day and post on here but it hasn’t played out like that. Hope you’re all doing well
Morning Lineup - 4/7/20 - And Then There Was One Tue, Apr 7, 2020 Global equties are in major rally mode as the S&P 500 tracking ETF is now trading up over 10% versus its close on Friday. We would also note that volumes have been on the high side as well. Yesterday's rally was fueled by optimism over flatter curves. Not yield curves but pandemic curves. With little in the way of economic data today, the focus will likely continue to be on case counts out of Europe, New York, and other areas of the country. Yesterday we mused that if the early gains held we could see a day where the S&P 500 and none of its sectors closed the day at oversold levels. Well, we got close, but couldn't quite make it. While most sectors moved out of oversold levels yesterday, Financials had to be the Debbie Downer finishing the day just barely at oversold levels. Let's hope today's early gains hold and even the Financials can move into the neutral zone. Even with the S&P 500 and every sector moving out of oversold territory, though, we would note that neither the S&P 500 nor any sectors are trading above their 50-day moving averages. So, even with the recent gains, the market has a sizable hole to dig itself out of.
Doing our best to stay healthy. Wife is getting worried about lack of PPE at her hospital in the ER. Thankfully cases in our area have been relatively low in comparison with some others.
Same here, got a toddler. Don't know how these things ever got domesticated lol. Ours will immediately go silent if we are watching TV commercials. So at least I can work on the computer a couple minutes at a time before I go searching for ads.
i can't chart this atm, but i'd be curious to see where we are on a daily fib retrace levels from ATH to the bear low on the cash SPX. seems like we are to about at halfback of the entire down move from the ATH?
looks like the spx and nazzy have now emerged out of bear territory (at least on an intraday basis), however the small caps, and trannies still in a bear as marcy alluded to yesterday
meanwhile, the SPX has technically entered new bull territory (if it were to close here today), joining the dj30. the other majors still have some work to get there
