SPX - HI'r or Rolling Over?

Updated

Let's See What Happens...If China does Not open up for business on Sunday 09Feb...doesnt bode well for Higher Hi's and the American Media BS Narrative...Cheers!

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Whole lotta chasing going on...the smartypants do not even know what they are chasing...pure comedy! What's in front of us?

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JPM: We had thought a deceleration in viral case growth rate could help calm investor anxiety, but we are surprised to see markets rebound so quickly Over the past week, the growth rate fell from a 50% day-over-day 5-day average to near 20%. While that represents a meaningful decline, it does not yet confirm the success of the policies implemented to contain the outbreak, which in turn leaves uncertainties about the ability to reopen manufacturing facilitie Nomura Quant: CTAs have been forced into chasing the market up again as a result of the S&P 500 breaking back above the strategically significant line at around 3,270

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Let's See What Happens...Does it break the new Hi and Rebound Lo'r Surprising all of the chasing CTA's...LMFAO!

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8-9 GAPs...sooner or later....Checks Written will be Cashed!

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Bearish Wedge....need to test the lo and see what happens!

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Given the above at the 100% line of 3340, if the Close is Above 3340 increases the odds of Higher Hi -IF- it Closes Below 3340 increases the odds of a Lower Market coming...TBD

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2.5% Pullback followed by a 4% Higher Hi...this is not "Healthy" and it is a "Algo-Driven-Market" especially these last several days!!!

MikeSans

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