SPX (05/04/2020 - 05/08/2020) - VIX came back - Profit taking

FA
-Gilead Science will release their drug this week:
www.cnbc.com/2020/05...e-entire-supply.html
-FED Repo will start to slow down in May:
www.newyorkfed.org/m...-operational-details
-FED securities buy back 8 billion dollars per day vs 50 to 75 billion dollars back in March
www.newyorkfed.org/m...-operational-details
-Coronavirus cases have not been flattened yet before reopening on May 1st.
www.worldometers.inf...onavirus/country/us/
-Businesses are opened but only 25% - 50% capacity, which means the employment number won't return 100%.
-Round 2 of stimulus relief is still on debate.
-Earnings this week: twitter.com/eWh...568625017892864?ref_src=tw...
Most of them will see a decline in revenue, excluding PayPal, Chegg...
-US debt now 27 trillion dollars vs Asset ~4 trillion dollars
fiscal.treasury.gov/.../balance-sheets.html

TA
-RSI moving down in daily chart: bearish ( Lower - High)
-SPX is showing a reversal after reaching 0.618 Fibonacci.
-Squeeze momentum is showing a decrease.
-Next target: SPX 2750
-Bottom line: Short every bounce this week.

Good luck and Thank you.

تعليق:

Please let me know if I missed anything.