Last resistance standing
Irrational decision were made by the central banks which decided to float the markets with as much money as necessary and started even to buy junk bonds. So the signs for the markets are bullish even we have the biggest human made crisis since the great depression.
The S&P made a real comeback based on price action and stands now in front of the last resistance before entering the bull market again in my opinion.
I wouldn’t be surprised if we see the last resistance breaking. But never the less you have to be prepared for both cases and historical speaking it was never a great idea to bet against the central banks.
But overall be careful with long-term investing in this kind of market environment, where the whole investing sector is driven by new COVID-19 numbers and statements of the central banks.
Let's wait and see how it plays out...
The S&P made a real comeback based on price action and stands now in front of the last resistance before entering the bull market again in my opinion.
I wouldn’t be surprised if we see the last resistance breaking. But never the less you have to be prepared for both cases and historical speaking it was never a great idea to bet against the central banks.
But overall be careful with long-term investing in this kind of market environment, where the whole investing sector is driven by new COVID-19 numbers and statements of the central banks.
Let's wait and see how it plays out...
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