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LagunitaLLC
May 3, 2020 11:47 PM
SPX (05/04/2020 - 05/08/2020) - VIX came back - Profit taking
Short
SP:SPX
1D
S&P 500
SP
Description
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May 3, 2020 11:47 PM
FA
-Gilead Science will release their drug this week:
cnbc.com/2020/05/03/gilead-ceo-says-remdesivir-available-to-coronavirus-patients-this-week-weve-donated-the-entire-supply.html
-FED Repo will start to slow down in May:
newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/repo-reverse-repo-agreements/repurchase-agreement-operational-details
-FED securities buy back 8 billion dollars per day vs 50 to 75 billion dollars back in March
newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/treasury-securities/treasury-securities-operational-details
-Coronavirus cases have not been flattened yet before reopening on May 1st.
worldometers.info/coronavirus/country/us/
-Businesses are opened but only 25% - 50% capacity, which means the employment number won't return 100%.
-Round 2 of stimulus relief is still on debate.
-Earnings this week:
twitter.com/eWhispers/status/1256568625017892864?ref_src=twsrc^google|twcamp^serp|twgr^tweet.
Most of them will see a decline in revenue, excluding PayPal, Chegg...
-US debt now 27 trillion dollars vs Asset ~4 trillion dollars
fiscal.treasury.gov/reports-statements/financial-report/balance-sheets.html
TA
-RSI moving down in daily chart: bearish ( Lower - High)
-SPX is showing a reversal after reaching 0.618 Fibonacci.
-Squeeze momentum is showing a decrease.
-Next target: SPX 2750
-Bottom line: Short every bounce this week.
Good luck and Thank you.
Comment
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May 3, 2020 11:52 PM
Please let me know if I missed anything.
Trend Analysis
Technical Indicators
Beyond Technical Analysis
Comments
TokolloFXK
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May 3, 2020 11:57 PM
good set up. impressed
LagunitaLLC
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May 3, 2020 11:58 PM
@TokolloFXK
, thank you :)
InfowarsTrader
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May 10, 2020 4:27 PM
how did that pay off? Now is the time to short.
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