-Demand for oil came back steady as the economy is reopening.
-2nd round of stimulus check is still pending. However, there will be a high chance of approval (Trump's intention). Still, this stimulus package will cause more trouble than people thought.
-Tech stocks are likely FOMO-ly bought due to speculations about economy opening and working remotely. Demand for tech equipment, cloud-based server, online shopping, etc... is expected to be higher than calculated.
-Possibilities for Real Estate crash:
-FED has scheduled overnight repo for Friday and Monday. Will likely a big gap-up tomorrow.
-Opening higher in both SPX and NDX can be explained by two reasons:
+Trust from the investor on FED: more people hold long positions over the weekend and will be buying as soon as the market open ( Friday closed higher even when we have 3 days of risk).
+Speculations on economy reopening.
However, it is still risky to start buying for long term. Still, we can trade long in a short period.
Why? -volumes are respectively low- and -US 10Y treasury is still below 0.7%- are investor confidence indicators. The confidence has not yet recovered . So be aware of keeping long positions over this week. So take profits.
NDX is in squeeze: prepare for a huge movement:
NDX is trading above all moving averages: very .
NDX had many chances to drop , however, it went up which indicates the top hasn't been decided yet.
RSI: very .
Bottom line: Trade long and don't hold overnight.
Good luck and have fun.