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.
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.
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.
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SEO sucks for looking up anything related to the virus.
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
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