Bullish: Every week since the low has closed green except this week.
Bearish: The last week of each month have been particularly bearish since January.
The overwhelming bull trend that's taken place over the past few weeks have been disorienting. My bias is now leaning neutral. I will consider the downtrend on hold if the monthly closes above the 17th of April high.
Will switch bullish wiith a swiftness once issues with global oil pricing and the pandemic are resolved. Keeping an eye on the China/U.S. trade squabble.
Black lines at the top/bottom are based on support/resistance levels and volume gaps. I should note that I am preferring the futures contract to chart for its longer session vs. the regular SPY chart or index.
Recent oil news:
Lack of available storage, due to it being so darn cheap to stock up on now, led to the dump of the front month futures contract. Oil also expires which explains why months further out are not as affected.
bloomberg.com/news/articles/2020-04-21/world-s-biggest-oil-storage-firm-says-almost-all-space-is-sold
aljazeera.com/ajimpact/facing-backlash-saudis-reroute-oil-tankers-headed-200422151114539.html
wsj.com/articles/saudi-oil-stranded-in-supertankers-as-backlog-piles-up-11587478831
Recent coronavirus/COVID-19 news (only what could possibly be related to the markets' pricing):
Possible vaccine, mRNA-1273, currently in human trials and stocks such as MRNA and GILD megapumped. Vaccines require time for trials/mass production, so it would be interesting to see how price would react the next time when a solid date on vaccine delivery is announced for...every country? I don't believe there's a globally accepted guideline on vaccine distribution.
nasdaq.com/articles/why-these-covid-19-vaccine-stocks-soared-today-2020-04-20
time.com/5790545/first-covid-19-vaccine/
who.int/blueprint/priority-diseases/key-action/novel-coronavirus/en/
Recent China/U.S. e-fight news:
TBD
There's a lot of articles out there without any proper coverage. Repeating old news in new publishments and talks related to the virus. The latter is important but oftentimes involves too much speculation and journalist bias.
Bearish: The last week of each month have been particularly bearish since January.
The overwhelming bull trend that's taken place over the past few weeks have been disorienting. My bias is now leaning neutral. I will consider the downtrend on hold if the monthly closes above the 17th of April high.
Will switch bullish wiith a swiftness once issues with global oil pricing and the pandemic are resolved. Keeping an eye on the China/U.S. trade squabble.
Black lines at the top/bottom are based on support/resistance levels and volume gaps. I should note that I am preferring the futures contract to chart for its longer session vs. the regular SPY chart or index.
Recent oil news:
Lack of available storage, due to it being so darn cheap to stock up on now, led to the dump of the front month futures contract. Oil also expires which explains why months further out are not as affected.
bloomberg.com/news/articles/2020-04-21/world-s-biggest-oil-storage-firm-says-almost-all-space-is-sold
aljazeera.com/ajimpact/facing-backlash-saudis-reroute-oil-tankers-headed-200422151114539.html
wsj.com/articles/saudi-oil-stranded-in-supertankers-as-backlog-piles-up-11587478831
Recent coronavirus/COVID-19 news (only what could possibly be related to the markets' pricing):
Possible vaccine, mRNA-1273, currently in human trials and stocks such as MRNA and GILD megapumped. Vaccines require time for trials/mass production, so it would be interesting to see how price would react the next time when a solid date on vaccine delivery is announced for...every country? I don't believe there's a globally accepted guideline on vaccine distribution.
nasdaq.com/articles/why-these-covid-19-vaccine-stocks-soared-today-2020-04-20
time.com/5790545/first-covid-19-vaccine/
who.int/blueprint/priority-diseases/key-action/novel-coronavirus/en/
Recent China/U.S. e-fight news:
TBD
There's a lot of articles out there without any proper coverage. Repeating old news in new publishments and talks related to the virus. The latter is important but oftentimes involves too much speculation and journalist bias.
Nota
SEO sucks for looking up anything related to the virus.Moderna looking for more test subjects:
seattletimes.com/seattle-news/health/older-americans-get-chance-to-join-virus-vaccine-study/
Gilead failed:
bloomberg.com/news/articles/2020-04-23/gilead-plunges-after-report-that-chinese-trial-was-unsuccessful
CanSino Biologics, China, and Inovio Pharmaceuticals, South Korea, also in human testing phase.
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Futures open looks not amazing yet.
Nota
So it broke the high but also didn't do anything but dump upon market session, same with SPY. This can't be anything other than a stop run, right?Nota
it's the end of the month already but the end of the week happens in the Friday session.Nota
Puking since closeNota
Nota
Incredible?!Government will be buying bond ETFs sometime starting early May:
newyorkfed.org/markets/primary-and-secondary-market-faq/corporate-credit-facility-faq
My published indicators: tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
My published indicators: tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.