FA Key vaccine researcher got fired by Trump administration. CDC warned about the 2nd Cov-19 wave in Winter. Trump's conflicts with the economy opening this Friday (Georgia). Jobless claims expected to be 5 million. Keep eyes on the Oil price. Airlines' revenue got trimmed in Q1 ( Delta). Another wave of lay-off will start soon (Social services, oil industry, automaker, REIT) FED pumps (same schedule).
TA Downward trend. Expecting a higher volume. Open low, close high. Wait for a break-out downward to 8580 levels to confirm the trend.
Later on, Thursday's bad news make stock market more and more bullish and FED just care about wall street, is super irrational and impossible to play. I'm wondering if they can really inject that much liquidity into the market hiding all the reality and skip the obvious recession that we should be heading.
qaneza
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FEDeRally in action again. They have nice sense of humor guys)))
@LagunitaLLC, BTW thanking U much for sharing your Ideas - it helps, indeed
KthiG
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@LagunitaLLC, I think for the markets to significantly dip, it needs a catalyst or a build up of bad news/negative investor sentiment. Oil is certainly there, second wave possibilities could be a catalyst, but a slew of earnings I would think would drive the indices down.
LagunitaLLC
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@KthiG, the market is already overvalued. People are still thinking the FED will help and the market will be back to normal once the economy is open. 60% of American have stocks, so don't try to out-smart them, the majority of people are still buying without realizing how bad is the economy. I think second the collapse in unemployment insurance will be the factor. Only 10-15% people received unemployment benefits from federal.
KthiG
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Do you know the last date of fed pump? Or is it indefinite at this point
LagunitaLLC
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@KthiG, every day, they pump 1 trillion and withdraw it the following day. They will continue to do it every day until everything is back to normal. The point is preventing people from panic, stabilizing the stock market. FED also has short-term note $500 billion each one (24-84 days term) and other operational programs to support the economy (mainly stock exchange via institutions, hedge funds, corporations, and money market). Bottom line: they will continue to do it.