Party is over, time to settle down
Zaktualizowano
The more than 20% jump from the low has many retail traders jumping for joy. That is excellent and I hope some had made good profits here !
However, I think the party is over. In 1H chart, we can see the bullish trend is broken down plus there is a gap from 18803 to 19645 awaiting to be closed. The probability is high.
Fundamentally, the US economy has not improved within this 2 days other than the confirmation of the 2 trillion dollars stimulus. Tomorrow, the jobless claims results might tell us more. I doubt this 2 trillion dollar is adequate to save US from its recession or economic woes that it is in right now.
Of course, some blame it on Sanders as part of the reason for the downfall. I think that is immaterial, at least to me. Again, I like to remind traders out there that US cover-19 situation has not PEAKED.
And if President Trump wants to reopen the economy before that, it is not only irresponsible but could also cause the number of cases to spike up even higher. Is that what he wants ? I doubt it.
The writings are on the wall, really and one need not be a rocket scientist to solve the puzzle. The next 6 months is going to be gloomy for the global economy and US being the leader it always want to be has to set a good example of controlling the covid-19 in a measured and efficient manner and stand ready to help the weaker countries.
Now that China has lifted the lockdown status for Wuhan, where the main cause of Covid-19 is from and sending medical supplies to many countries. This infuriates the politicians in US, nevertheless, accusing them of having an ulterior motive (blah, blah blah). Unless the private firms in US can ramp up the production of medical supplies fast and help its own states, it cannot for the sake of "face-saving" and risk the lives of hundreds and thousands of innocent lives. This will not go down nice in history for President Trump. He knows it and you can hear his current speeches are quite different from the past though he has to send confidence to its people.
However, I think the party is over. In 1H chart, we can see the bullish trend is broken down plus there is a gap from 18803 to 19645 awaiting to be closed. The probability is high.
Fundamentally, the US economy has not improved within this 2 days other than the confirmation of the 2 trillion dollars stimulus. Tomorrow, the jobless claims results might tell us more. I doubt this 2 trillion dollar is adequate to save US from its recession or economic woes that it is in right now.
Of course, some blame it on Sanders as part of the reason for the downfall. I think that is immaterial, at least to me. Again, I like to remind traders out there that US cover-19 situation has not PEAKED.
And if President Trump wants to reopen the economy before that, it is not only irresponsible but could also cause the number of cases to spike up even higher. Is that what he wants ? I doubt it.
The writings are on the wall, really and one need not be a rocket scientist to solve the puzzle. The next 6 months is going to be gloomy for the global economy and US being the leader it always want to be has to set a good example of controlling the covid-19 in a measured and efficient manner and stand ready to help the weaker countries.
Now that China has lifted the lockdown status for Wuhan, where the main cause of Covid-19 is from and sending medical supplies to many countries. This infuriates the politicians in US, nevertheless, accusing them of having an ulterior motive (blah, blah blah). Unless the private firms in US can ramp up the production of medical supplies fast and help its own states, it cannot for the sake of "face-saving" and risk the lives of hundreds and thousands of innocent lives. This will not go down nice in history for President Trump. He knows it and you can hear his current speeches are quite different from the past though he has to send confidence to its people.
Uwaga
The jobless claims is tonight at 830pm Singapore time.Uwaga
we were stopped out last nite after placing our short position on this including other shares like Tesla as well. Ouch, it was painful to see losses but more than pain is feeling puzzled the rationale it went up instead. Like Jim Cramer said, he aint comfortable with this rally, believing it to be the work of the algo traders at work. Others said it is the stimulus taking effect. Like I said before, finding reasons to support is one way to fill in the gap in our mind , a way to convince ourselves why we do what we do.
Chart wise, it display patterns that it should goes down .Then again, I have also mentioned before that it is a probability not a certainty when reading chart patterns. So, thanks to Mr Market giving us a surprise or a present to those who longed. Now the gap at 21737 is filled, we can expect it to continue higher towards 24,000 level. Will monitor and update soon.
Uwaga
edition.cnn.com/2020/03/26/health/coronavirus-thousand-deaths-thursday/index.htmlit is heart wrenching to read article like that knowing our front line staff are suffering emotionally and physically from their job. And the worst is they are not well compensated. They work tirelessly round the clock , sacrificing their family time and children to look after the sick and needy. If you have made profits, please consider donating part of it to help the charitable organisations involved with Covid-19 in your country. Every bit helps now, we are in it altogether.
Uwaga
i short at 22172. anyone knows why TV chart is not aligned with the current trading hours ?
Uwaga
look at the closing candle. i hope you know what to do.
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.