SPX Futures...Extrapolate Out the BS!
Updated
Process...Manage your Trade(s)...this is why you have a Plan! HEAD SHOTs ONLY!
The world is NotFookinEnding folks....just another BUYING/ENTRY Point...Standy-Bye, Bust It!
The S&P 500 is still up 3.3% year-to-date and hasn’t hit it’s 50-DMA since October of 2019. ,20-DMA =3,323
* 50-DMA = 3,279
* 100-DMA = 3,159
* 200-DMA = 3,041
* Math says…S&P 500 is 3,337-3,041 = 296 points to achieve the 200-DMA. The S&P 500 would decline almost 10% from peak to trough if it achieves the 200-DMA in the coming weeks or months.
The bottom line for this past trading week is pretty simple; U.S. equities had become overbought/extended, peaked over the fence and saw several troubling signs in fixed income and currency markets and started to retreat.
The world is NotFookinEnding folks....just another BUYING/ENTRY Point...Standy-Bye, Bust It!
The S&P 500 is still up 3.3% year-to-date and hasn’t hit it’s 50-DMA since October of 2019. ,20-DMA =3,323
* 50-DMA = 3,279
* 100-DMA = 3,159
* 200-DMA = 3,041
* Math says…S&P 500 is 3,337-3,041 = 296 points to achieve the 200-DMA. The S&P 500 would decline almost 10% from peak to trough if it achieves the 200-DMA in the coming weeks or months.
The bottom line for this past trading week is pretty simple; U.S. equities had become overbought/extended, peaked over the fence and saw several troubling signs in fixed income and currency markets and started to retreat.
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Complacency...Indecision KILLS...Pause/Reflect/Execute! Go Forward...“Prepare for everything and nothing will happen…”
Relax! Markets always overreact, and things are never as bad as the CNBC Missionaries will say, but the bad news Virus narrative is gaining momentum with extraordinary speed….ZeroHedge will be out in full force...the FookinFukawiTribe!
"Think about this market in unemotional terms. What choice do Central Banks have? It strikes me this could become a “Draghi Moment”: that critical singularity when global central banks have no alternative but to do “whatever” it takes to avoid economic meltdown.
The last thing Central Banks can allow is a market collapse alongside the snap Virus recession – the long term damage to economic activity would be brutal, and unnecessary. Could we even see Occidental Central Banks step into buy equities “to support market confidence through the economic consequences of the virus”? The strategic call is one for Central banks. Just how much will they have to juice the COVID Recession?" --Bill Blaine @ Morning Porridge
Cheers...see you at Happy Hour!!! Be Safe...
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more AM data...."We've moved well through the zero gamma area and are testing the first "put wall" and "absolute gamma strike". Puts are now in control of gamma which indicates more volatility ahead. I would not look at the put wall as a solid support line, but more of a pivot or "band" around which larger moves occur. Being that 3250 is the absolute gamma strike it may function as a support/resistance level."
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stocktwits.com/sethmarcus/message/196207943Know your Gap Zones...
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UST 10yr Yield 1.37-1.57% (bearish)SPX 3252-3395 (bullish)
RUT 1631-1699 (bearish)
Utilities (XLU) 68.43-71.61 (bullish)
REITS (VNQ) 96.13-100.65 (bullish)
Consumer Staples (XLP) 63.54-65.25 (bullish)
USD 97.85-100.06 (bullish)
EUR/USD 1.07-1.09 (bearish)
Oil (WTI) 48.72-54.60 (bearish)
Nat Gas 1.72-2.00 (bearish)
Gold 1598-1696 (bullish)
Copper 2.52-2.63 (bearish)
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FinomGroupPM@FinomGroup_PM
3m
SPX headlines are worsening as anticipated. Review your process and game plan. Coronavirus: Look at the numbers folks! Now compare to how many headlines, articles, tweets etc. Gets worse before it gets better, but always gets better. Think long-term, position accordingly!Note
Selling and more selling coming....will this get a Dead-Cat-Bounce?...will take until ivo Wed to see....but not looking good! TBD
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This much selling at midday....Rebalancing/Protection....CTA's will rush to the exits at 3:30-4...so lots of volatility....Great Opportunity(s)!
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