Relief for the bears
מעודכן
Nice triple top formation.
inner bullish trend line broken down creating first selling opportunity
main bullish trend line plunge down so fast, no retracement, hard to get in.
found support at 2830 level. It may rebound or if support is weak, it will fall through.
Now it seems the sentiment is circling around the states reopening and its repercussions. If it is good, then traders would continue to push the market higher. If a possible 2nd wave is going to happen, people will be more afraid to get back to office or out on the streets. With inadequate testings, it remains a risk for themselves and the family.
The continuing US-Sino strained relationship with President Trump going all out to attack China on the coronavirus and pressuring them to fulfil the trade agreement. The scapegoat - Australia being imposed on a 80% tariff on beef and barley and China will then shift the buying from Australia to US. A strategic move indeed.
However, note that the Feds are also pumping money into the corporate bonds and ETFs , that might continue to stoke the fire in the market.
With the exception of Nasdaq, all major indices are in consolidation phase which can go either way. Also observe the candles are getting shorter, meaning the range of movement is 1-2% a day, pretty boring and hard to make quick profits.
inner bullish trend line broken down creating first selling opportunity
main bullish trend line plunge down so fast, no retracement, hard to get in.
found support at 2830 level. It may rebound or if support is weak, it will fall through.
Now it seems the sentiment is circling around the states reopening and its repercussions. If it is good, then traders would continue to push the market higher. If a possible 2nd wave is going to happen, people will be more afraid to get back to office or out on the streets. With inadequate testings, it remains a risk for themselves and the family.
The continuing US-Sino strained relationship with President Trump going all out to attack China on the coronavirus and pressuring them to fulfil the trade agreement. The scapegoat - Australia being imposed on a 80% tariff on beef and barley and China will then shift the buying from Australia to US. A strategic move indeed.
However, note that the Feds are also pumping money into the corporate bonds and ETFs , that might continue to stoke the fire in the market.
With the exception of Nasdaq, all major indices are in consolidation phase which can go either way. Also observe the candles are getting shorter, meaning the range of movement is 1-2% a day, pretty boring and hard to make quick profits.
הערה
congrats to those who shorted.
כתב ויתור
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