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Coronavirus (COVID-19)

Salesforce.com Holds Trend as Earnings ApproachCloud computing has been one of the strongest growth trends in the market this year, and now one of the most important names has pulled back to some interesting levels. Salesforce.com has followed an upward-sloping trend line since early June, making successively higher highs and higher lows. The two most recent peaks were all-time highs above its pre-crash records. Now it’s pulled back to that trend line. Second, the current low is very close to the $195.72 level where CRM topped out in February. Has old resistance become new support? Overall, this is a pretty conventional trend-following setup. It resembles Netflix on June 30 , pulling back to an old high and trend line before earnings. CRM reports on August 25.
NYSE:CRMLong
by TradeStation
GOLD VS YEN - JPY 107.00 SUSTAINED - TRADE IDEAYEN is also in deep waters for the current state for Covid 19 in Japan, but it USD that is lifting the Yen as investors bet against the USD. The dollar posted its first leg up against the yen in dramatic fashion, with a key reversal from JPY104 on July 31. Follow-through buying lifted it to nearly JPY106.50 at the start of last week. There were a few days on consolidation, and the next leg up appears to have begun before the weekend. We suspect it can rise into the JPY107.00-JPY107.50. The 200-day moving average lies a little above the JPY108, around the upper end of its previous range. The Slow Stochastic turned higher at the end of July. The MACD is also edging higher.
by DragonCaptain
The Greatest Depression In Our Lifetime Is Here According to..The stock market is on the verge of an epic collapse set to occur now. The greatest depression in global economies that any of us have or will see is here according to this accurate model. My 'crystal ball' is not based on the quarantined talking heads filling air time with circular-referenced positivity in an utterly negative market. Some loyal readers are wondering why I have not publicly published in more than a year, and no it was not a jail sentence. Up until May 2019, I had been manually running and tweaking an algorithm based on Elliott Wave Theory. I ran my algorithm and model in June 2019 which forecasted the beginning of a major market crash beginning in the first quarter of 2020. You can find the public mention of it at After running the model and seeing what was to come, I needed to find a better way of running models in the future that is quicker. I spent the last year learning how to code and write computer programs. I knew there was a learning curve and it would take time, but I would be able to get much more work done in the future with the investment of time now. Previously, I manually studied about 5 stocks and ETFs at a time, and each one required hours of work and crunching numbers through Excel and Google Sheets. Now I am running algorithms against hundreds in a matter of minutes. My hiatus from public market forecasts has been worth it. Now back to what you care about, the looming market drop. My program calculated every wave according to my interpretation of Elliott Wave Theory for the S&P 500 dating back to June 1, 1932. This is the estimated date that the index began its epic 5-part Grand Supercycle Wave 1. I reference waves and durations based off of the chart on my website which is also floating around on the internet. Grand Supercycle 1 is comprised of 5 Supercycle waves which tend to last between 40-70 years, but there is no concrete duration. The cycle that I have charted has lasted approximately 21,671 trading days from June 1932 until February 19, 2020 which is nearly 88 years. These 5 completed waves have only ended Grand Supercycle 1 meaning we have just entered Grand Supercycle 2, which is a significant and lengthy correction wave. On average, corrective number 2 waves last about 16 years from top to bottom and are reflected in a 3 wave ABC pattern. Wave A (comprised of 5 waves) goes down, wave B (3 waves) goes up, and the final wave C (5 waves) hits the bottom. We are in the very early stages of wave A slated to take the market and index down for 4-6 years, which I cover potential causes below. Wave B is projected to rise over 4-8 years possibly creating a new all-time high (ATH) in the index before Wave C finally hits the bottom in 4-12 years after B ends. Although the index has charged hard and nearly recouped all losses observed during the early COVID-related shutdowns, the steam is gone. This 'V-shaped recovery' has been more mythical than actual recovery. The index is back to where it was before jobs were lost, schools were closed (forcing some parents to quit their jobs or find new childcare expenses), restaurants operate at half capacity or less, tourism died, travel was restricted across states, nations, and borders. The market says everything is fine, but the hidden reality is things have been propped up to appear great again on the surface. I input all of the data from the last 88 years into my program to reveal where the next market top will occur from the March 2020 lows. I currently have the index in Minor wave C of Intermediate wave 2 of Primary wave 1 of Cycle wave 1 of Supercycle wave A of Grand Supercycle wave 2. This means the end of Minor wave C will also end Intermediate wave 2 and beginning a new chapter down. The data from the minor waves were entered into the program to find reversal points. Minor wave A lasted 53 trading days and moved 1041.27 points. Minor wave B lasted 15 trading days and shed 233.39 points. As of the close of trading on August 11, 2020, Minor wave C has lasted 30 days having seen a maximum upward move of 381.27 points. My program returned 110 market tops and 110 reversal dates. I currently have the market topping between August 7, 2020 (Minor wave C day 28) and September 10, 2020 (Minor wave C day 51). This range was determined by the following chart of potential lengths of Minor wave C. The specific reversal levels and reasons for reversal are found on my website mentioned in the signature block below.
SP:SPXShort
by StockSignaler
13
Best Way to Trade the Gold SelloffGold has cratered along with the other safe havens. It has careened through the 1900 handle back down to 1800's, currently finding support at 1863, which is a strong technical and Fibonacci level. It appears to have completed the 5-3 Elliott Wave. Observe that even with this correction, gold can still be considered in a 'bull phase'. Especially considering the bounce it had off 1863. Current levels may make a good entry point for a long trade. We are right at 1941 at the moment, which is another technical and fibonacci level. A narrow stop would be good risk management. The next level above is 1975, but below we have a vacuum zone to 1906. The Kovach OBV has taken a nosedive, registering the selling momentum. It does appear to be turning, along with the Kovach Chande, suggesting that this bear phase may be ending, or at least coming up for air.
COMEX:GC1!Long
by quantguy
XAG USD new potential demand zone at 61.8%Hello traders and analysts, Despite the huge sell off today - which has been anticipated as the price hit a great supply and completed a great W formation - Bears took over to retrace to our 61.8% zone [but not there yet to get buys in. Prefer confirmation as this sell off was very impulsive. Why are we going long still? Well if the price is showing us - this 25$ zone is a great opportunity if price closes above if not, this zone is invalid. But price on the higher timeframe has retraced to a demand imbalance and orders will be picked up - so from here we are expecting price to range between the 25-29zone. now the zones are established. See our previous trades . We have closed one trade previous and still have the original running from 14.88$. Enjoy looking through our previous trades to follow the journey to now. Why follow us? Updates on our pairs as and when we can. Swing trade out looks 10 years combined experience in capital markets simple breakdowns for beginners to advanced . KISS - keep it simple stupid. we trade purely from naked charts, less indicators - remove the noise. If you like our work, please leave a like or comment. To all our followers, we appreciate the follow and likes. Thanks, Team Lupa
FOREXCOM:XAGUSDLong
by LupaCapital
4
Doomsayers Beware: Potential Resistance on Bond PricesAs most people know, sentiment has been running uber-bearish. That’s lifted gold and depressed interest rates. But now the action in bond prices may be showing an end to the move. The iShares 20+ year Treasury Bond ETF tracks the prices of long-dated bonds. And they may have recently hit a peak around $172, near the same level where it was rejected in April. There could be several implications if this potential double-top holds. First, and most obviously, it would boost longer-term bond yields. That, in turn, would steepen the curve and could help banks and financials. It could also lift some economic forecasts using bond yields as indicators. That, in turn, could make it harder to own high-multiple “growth” stocks and keep money flowing toward cyclical “value” names like small caps, industrials and financials. Higher rates could also support the U.S. dollar and make precious metals a little less precious. The news flow today is consistent with this kind of shift: 1-TSA data shows air travel back to its highest levels since March. 2-China is moving to reopen visits to Macau. 3-Washington is inching toward a stimulus bill.
NASDAQ:TLT
by TradeStation
1
SONA.C -- Potential bounce opportunity from historical supportSONA shaved off close to 60% off its recent highs after news of 2 week delay for FDA approval of their COVID-19 test kits. Nothing has changed fundamentally and, if you read the NR carefully, they are lining up more customers and shipping kit prototypes under research license. NASDAQ uplisting is pending as well. The stock has landed in the historical support zone, almost exactly at EMA 50. Additional Fib support right below. This is a good speculative entry here for a bounce with multiple catalysts pending. A stop just below Fib. support may be a good idea.
CSE:SONALong
by wealth_bakery
3
MGM ✅ Why Go To Vegas When You Can Speculate On MGM From Home!💬 MGM International Resorts (MGM) is rolling out its new 'Viva Las Office' campaign to get people to work from Vegas. That could help drive business to MGM properties, which could be why the market is showing us some bullish options flow and decent price action. While we are skeptical this single event makes a giant impact, we think all these factors together (along with the recent earnings beat) are enough for a conservative swing play. Let's see if we can find a setup that works. Hit that 👍 button to show support for the content! Help the community grow by giving us a follow 🐣 ----- Support: S1: Our entry is going to be off the minor price pivot point, a current S/R flip, and previous orderblock cluster range. The logic is that we retest this level before moving up. Meanwhile, we are placing our stop below the S/R flip to give us a solid 1:5 Risk-to-Reward that keeps us well away from any short term downside volatility that might be seen as the price is finding support. Resistance: R1: Our target is the orderblock at the previous swing high as highlighted on the chart. ----- Summary: We have a pretty straightforward setup here. Retest the S/R filp, and then go long until the next resistance level is hit while keeping a comfortably placed stop well below support to mitigate risk... its a gamble with good odds, and we didn't even have to leave the office to do it. Resources: finance.yahoo.com www.marketbeat.com ✨ Drop a comment asking for an update, we do NEW setups every day! ✨
NYSE:MGM
by AlphaBotSystem
Bearish Outside Day in Gold, With the Dollar OversoldPrecious metals have flown higher over the last month as the market woke up to the Federal Reserve’s uber-dovish policies and this country’s lag in the fight against coronavirus. However the U.S. economic data has shown some signs of improvement and now gold is showing a potential reversal pattern. XAUUSD touched a new all-time high of $2,075.28 today. It then dropped as low as $2,023 and remains down more than 1 percent. That’s a bearish outside day. Such a candlestick is a potential reversal pattern when it follows the blistering run we’ve seen in gold. It also comes at a time when the U.S. Dollar Index is oversold, with its stochastic weekly chart at the lowest level in 2-1/2 years. The other chart worth viewing is the Center for Disease Control’s case count for coronavirus, which has trended lower for the last two weeks. Looking at the bigger picture, there are probably many reasons to like precious metals over the long run and to fade the dollar. However the move may have reached an extreme at this point. That may weigh on gold – and silver – in coming weeks.
OANDA:XAUUSD
by TradeStation
1
Best Eurodollar Trading StrategiesThe Eurodollar has retreated slightly from highs it achieved earlier this week. Currently, it is knocking about 99.815, the lower bound of this newly established price range. At this point it could bounce and test the upper bound again, or break lower and test 99.800, a level it has very much respected in the past. The Kovach OBV has dropped off, suggesting that the longer the Eurodollar spends at these levels, the more inclined it will be to test lower levels
G
by quantguy
Best Stock Trading Ideas in this RallyStocks have made new relative highs again. They seem to have paused in between the last level and 3357, the nearest relative high, forming a new technical level at 3329. The next level above, 3357, will serve as the next milestone for the S&P to break. The Kovach OBV is not nearly as strong with this stock rally as it is with safe havens, such as gold and bonds. It would be advisable to wait for a pullback, rather than entering via fomo at highs. Watch 3308 and 3293, or even 3283, a Fibonacci level and technical level.
FX:SPX500Long
by quantguy
Top Stock Trading IdeasThe S&P has broken relative highs. We have to go back to March for levels from above which it will test before retracing. The relative strength of stocks with respect to safe havens is not nearly as strong as measured by the Kovach OBV. Thus the break in intermarket correlations is suspect and we may anticipate a retracement soon. The next target would be 3357. We are currently in a vacuum zone right now. You would be fomo-ing into a trade if you entered now. It seems reasonable to wait for a morning squeeze before entering anything. The level 3293 seems reasonable.
FX:SPX500Long
by quantguy
[NVAX] Novavax: Preliminary studies produce promising resultsPreliminary studies on coronavirus vaccines have produced promising results. I'm still a believer in their technology. Check out my previous NVAX posts and/or the first one. They have a promising technology that could revolutionize the vaccine industry. We (humanity) are already very behind in how we produce vaccines AKA using chicken eggs. So Novavax will hopefully pave the way for vaccines going forward. Things to watch even after COVID-19: - NanoFlu™ - ResVax™ - Recombinant Nanoparticle Vaccine Technology - Matrix-M™ Adjuvant Technolog TL;DR - To the moon and (probably) back lol *Note: This is pure speculation and my own opinion* NY Times: www.nytimes.com CNBC: www.cnbc.com
NASDAQ:NVAXLong
by traderman001
2