SPX (06/18/2020) - Reversal
FA
-New unemployment claims will be announced tomorrow.
-Cov-19 cases are still on the rise with Bejing and India in shut down. New world record on daily cases. South American countries are exploding in cov-19 cases
worldometers.info/coronavirus/?zarsrc=130
-Major news about Biden on the newest poll survey could be another factor to trigger the drop.
-FED policies are aiming for long-term recovery, instead of positivity about the current situation.
cnbc.com/2020/06/17/fed-policies-may-spark-a-bubble-all-star-investor-rich-bernstein-warns.html
-FED repo and treasury purchasing remain unchanged.
-Housing/Mortgage application data is positive.
tradingeconomics.com/calendar
-New Zealand GDP dropped more than expected.
tradingeconomics.com/new-zealand/gdp-growth
TA
SPX failed to break resistance at 3157, a reversal took place.
-RSI, Squeeze: bearish
-SPX500 crossed EMA 50,100 and built-in EMA TEST in both 1h and 4h chart during the future market: bearish.
-SPX could retest the 3067 level.
Trading note: Sold SPY 312.5 call at open and bought some AAL puts 06/19 at the closing.
Good luck and thank you.
-New unemployment claims will be announced tomorrow.
-Cov-19 cases are still on the rise with Bejing and India in shut down. New world record on daily cases. South American countries are exploding in cov-19 cases
worldometers.info/coronavirus/?zarsrc=130
-Major news about Biden on the newest poll survey could be another factor to trigger the drop.
-FED policies are aiming for long-term recovery, instead of positivity about the current situation.
cnbc.com/2020/06/17/fed-policies-may-spark-a-bubble-all-star-investor-rich-bernstein-warns.html
-FED repo and treasury purchasing remain unchanged.
-Housing/Mortgage application data is positive.
tradingeconomics.com/calendar
-New Zealand GDP dropped more than expected.
tradingeconomics.com/new-zealand/gdp-growth
TA
SPX failed to break resistance at 3157, a reversal took place.
-RSI, Squeeze: bearish
-SPX500 crossed EMA 50,100 and built-in EMA TEST in both 1h and 4h chart during the future market: bearish.
-SPX could retest the 3067 level.
Trading note: Sold SPY 312.5 call at open and bought some AAL puts 06/19 at the closing.
Good luck and thank you.
Nota
Bear trap. Go long
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.