SPX (06/30/2020) - Food for thoughts
FA
-There will be a lot of data releasing this week. Notable data: ADP report (better than expected), Unemployment data, Import/Export, Inflation data... For more information, please visit this website.
tradingeconomics.com/calendar
-FED is preparing another huge stimulus for the economy and is going to continue to support the economy with any means. Don't miss the FED's testimony tomorrow at 12:30 pm. Link and information below.
federalreserve.gov/newsevents/testimony/powell20200630a.htm
-FED Repo + Security purchases (aka Printing money) schedules:
newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/repo-reverse-repo-agreements/repurchase-agreement-operational-details
newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/treasury-securities/treasury-securities-operational-details
-Covid-19 cases are still on the rise so far some counties and even states are rolling back their reopening plan.
-Riot is still happening across the US
-The second stimulus plan to support people are on the way:
youtube.com/watch?v=wOLQeCRjYTs
-The deadline to report the vaccine trial of Moderna is due in July.
-The Tech sector was experiencing a pullback due to pension rebalancing + boycott (Last Friday).
-Bank Stress test was worse than expected but the FED + government stepped in and deregulated + put a restriction on bank div.
-Gold is set for another bullish move.
Bottom line: There are more risks on the short side compared to the long side as repo + commitment to stabilize the market has been more aggressive than ever.
IMO, there won't be a crash, instead, pullbacks just like Friday at this time. The risk to short will be greater as most of the people are bearish because this creates a perfect environment for PPT or MM to manipulate and short squeeze/hedge against for squeezing. Furthermore, FED hasn't used all of its cards, they will keep printing until the Election.
TA
-SPX is still in an active bullish flag pattern.
-SPX is in squeeze mode: bullish.
-SPX is still trading above most of moving averages (except 50EMA) in the daily chart: likely bullish
-SPX retested 200 EMA and failed to break below it: reversal took place: bullish.
-The target for tomorrow: 3113.
Food for thoughts: the market has rejected multiple major bearish signals and short squeezing a lot of people since March. This suggests 2 things: commitments to propping the market up, the tech sector hasn't reached its destination yet.
These numbers and actions from the FED and government are not my bias for my trading. They have the schedules posted online, which are types of data to be considered. I know there are a lot of biases to be on the shorting side, however, please also add the involvements of other participants to your equation while trading. In the end, profit matters.
Trading notes: Most of my portfolio right now is gold and cash. Only 5% for active trading SSHLL (Tesla and Nicola's rival).
Any constructive comments are welcome.
Good luck and have fun.
-There will be a lot of data releasing this week. Notable data: ADP report (better than expected), Unemployment data, Import/Export, Inflation data... For more information, please visit this website.
tradingeconomics.com/calendar
-FED is preparing another huge stimulus for the economy and is going to continue to support the economy with any means. Don't miss the FED's testimony tomorrow at 12:30 pm. Link and information below.
federalreserve.gov/newsevents/testimony/powell20200630a.htm
-FED Repo + Security purchases (aka Printing money) schedules:
newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/repo-reverse-repo-agreements/repurchase-agreement-operational-details
newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/treasury-securities/treasury-securities-operational-details
-Covid-19 cases are still on the rise so far some counties and even states are rolling back their reopening plan.
-Riot is still happening across the US
-The second stimulus plan to support people are on the way:
youtube.com/watch?v=wOLQeCRjYTs
-The deadline to report the vaccine trial of Moderna is due in July.
-The Tech sector was experiencing a pullback due to pension rebalancing + boycott (Last Friday).
-Bank Stress test was worse than expected but the FED + government stepped in and deregulated + put a restriction on bank div.
-Gold is set for another bullish move.
Bottom line: There are more risks on the short side compared to the long side as repo + commitment to stabilize the market has been more aggressive than ever.
IMO, there won't be a crash, instead, pullbacks just like Friday at this time. The risk to short will be greater as most of the people are bearish because this creates a perfect environment for PPT or MM to manipulate and short squeeze/hedge against for squeezing. Furthermore, FED hasn't used all of its cards, they will keep printing until the Election.
TA
-SPX is still in an active bullish flag pattern.
-SPX is in squeeze mode: bullish.
-SPX is still trading above most of moving averages (except 50EMA) in the daily chart: likely bullish
-SPX retested 200 EMA and failed to break below it: reversal took place: bullish.
-The target for tomorrow: 3113.
Food for thoughts: the market has rejected multiple major bearish signals and short squeezing a lot of people since March. This suggests 2 things: commitments to propping the market up, the tech sector hasn't reached its destination yet.
These numbers and actions from the FED and government are not my bias for my trading. They have the schedules posted online, which are types of data to be considered. I know there are a lot of biases to be on the shorting side, however, please also add the involvements of other participants to your equation while trading. In the end, profit matters.
Trading notes: Most of my portfolio right now is gold and cash. Only 5% for active trading SSHLL (Tesla and Nicola's rival).
Any constructive comments are welcome.
Good luck and have fun.
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