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BREAKING NEWS
Prime Minister Boris Johnson taken in to the Intensive Care Unit
FTSE unmoved.
Plan your trade, trade your plan!
In typical fashion FTSE will not move down on this news but ofcourse when they announce he is out of intensive care, it will rally 200 points.
I love the markets
Plan your trade, trade your plan!
In normal times I would short this market at the close
but that potential for much higher discussed on kpad
will keep me on the sidelines.This is very ‘c’ wave type action.
Never give up, never surrender.
Absolutely as per the way of an SU up day. It managed to put on over 40 SPX points in crookshour with the bulk up in crookstime.
Nothing new, seen it before and we now see it retrace some of this artificialness.
Plan your trade, trade your plan!
Im on board at 2662 now..fingers crossed for us.
Good luck buddy.
I have added at 10218 DAX and 2670.7 SPX.
Plan your trade, trade your plan!
They managed a great up day today. Thats fine. With the VIX where it is we will get these snap back moves.
Let’s see what they do tomorrow.
This was a facebook post of mine earlier this morning (12 hours ago), which sums it up for me.
“I see the world stockmarkets are up today and the reason attributed is due to a slowdown in the number of cases worldwide over the weekend. I notice that every weekend the numbers seem lower (probably due to reporting), so I see this as complete red herring. Currently the number of deaths is more meaningful to me than number of cases. This is due to the fact that we are still not testing enough people. Once testing is underway then it will be about the number of deaths falling. The main issue is ofcourse the exit strategy from all this and that is when the number of new cases becomes more meaningful again, but only if vigorous testing is done (provided the testing is 100% reliable). Otherwise all that will happen is countries will relax lockdowns and there will be active Covid19 cases out there and it will all spread again (with new cases growing daily). It’s a nightmare scenario without a vaccine. Therefore in my humble opinion, sadly a full relaxation of this worldwide lockdown has to be a long time away.”
Plan your trade, trade your plan!
All is not fixed with a mega up day….even if everyone went back to work tomorrow by some miracle an enormous amount of economic damage has been done.
Still think we take out March lows…. trust me to chose the scenic route.
Gold, silver, and bitcoin had a great day mind. 😎😎😎 Pleased with that.
Hope everyone is well and keeping out of harms way.
SPX: simple chart. Note the line of resistance/support at 2,610. It might try to retest that line (or not). (c) = 2.618 @ 2,695. The last move upwards is clearly a five.
SPX: last week I speculated that spx might try for a rising wedge B wave to overlap the 2,730 target. If it wants to, it might look like the attached chart. A guess, of course.
Thanks hatman..my initial final target for c was around 2740 so that looks veey much in play on your chart if this area doesnt hold.
I have no sympathy for Boris. When the virus first became a pandemic two months ago, he said that ‘200,000 might die but perhaps we should take it on the chin’. Well now he’s taking it on the chin.
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