Following back in with SPY. Check out our lasts post on this one to see how we have been following.
Moves we were watching:
1. A break outside the wedge (Wedge Broke)
2. The 290 price range (Price Range Hit)
TA:
1. Volume has been decreasing while price has been increasing: Bearish
2. A rising wedge has just been broken: Bearish
3. SPY failed to break the 200 MA (so far): Bearish -- Currently Retesting --
4. MACD heading lower: Bearish
5. RSI starting to turn towards the downside: Bearish
We just pumped even more $$ into the markets to keep this afloat. The unemployment rate just came out and it's the highest....ever...and stocks went up.
Airlines have seen a 90% decrease in air traffic and they're burning through millions a day.
Retail companies are starting to declare bankruptcy (Neiman Marcus just filed). Sears, JC Penny, Gap, are walking on egg shells.
4.1 Million mortgages are in Forbearance as of May 7. That's 7% of active mortgages in the housing market.
Stocks however keep going up as the FED keeps printing and investors buying into the "hopeful" scenario that everything is going to go back to the norm.
Hit us with a like and a follow for more updates. Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
Moves we were watching:
1. A break outside the wedge (Wedge Broke)
2. The 290 price range (Price Range Hit)
TA:
1. Volume has been decreasing while price has been increasing: Bearish
2. A rising wedge has just been broken: Bearish
3. SPY failed to break the 200 MA (so far): Bearish -- Currently Retesting --
4. MACD heading lower: Bearish
5. RSI starting to turn towards the downside: Bearish
We just pumped even more $$ into the markets to keep this afloat. The unemployment rate just came out and it's the highest....ever...and stocks went up.
Airlines have seen a 90% decrease in air traffic and they're burning through millions a day.
Retail companies are starting to declare bankruptcy (Neiman Marcus just filed). Sears, JC Penny, Gap, are walking on egg shells.
4.1 Million mortgages are in Forbearance as of May 7. That's 7% of active mortgages in the housing market.
Stocks however keep going up as the FED keeps printing and investors buying into the "hopeful" scenario that everything is going to go back to the norm.
Hit us with a like and a follow for more updates. Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.