FA
-FED was buying up ETF(s) (Junk bonds, HYG, and Banks). At a result, bank stocks went bullish 5% this morning (Jp Morgan, Citi, BoA).
More FED schedule below:
newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/treasury-securities/treasury-securities-operational-details
newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/treasury-securities/treasury-securities-operational-details
-Jobless claims 2918000 vs 2500000, bring the total claims up to 36.5 million.
-JC Penny is planning to file for bankruptcy on Friday (05/15/2020).
-Chinese production data is released (beats expectation)
tradingeconomics.com/
-US Import/Export prices are worse than expected.
tradingeconomics.com/calendar
-FOMO buying led the market higher.
-US Retail, Industrial production data,... will all be released tomorrow. Please check the trading economics for more information.
-The huge bounce this morning had 3 key factors: Bank ETFs are bought causing the bank stocks rally, FOMO buying, the gap at 2760 is filled (bounce up when filled).
TA
-SPX is still in squeeze on the daily chart: expecting a big movement.
-RSI is hitting 50%: neutral
-SPX is trading above moving average: bullish.
-On the technical approach: SPX retrace back from 3-consecutive-day drop. Between top and bottom (Dark blue).
-Gap mostly filled at 2760 caused a bounce.
-Scenario 1: SPX will retrace til 0.618 level (2878) then a correction. With this, SPX will retest the light blue line (Neckline of big head and shoulders pattern).
Open high
-Scenario 2: SPX will retract til 0.5 level (2860) then a correction
Open low
Volume is high
Please plan your strategy wisely and don't keep position over weekend (recommended).
Good luck and have fun
-FED was buying up ETF(s) (Junk bonds, HYG, and Banks). At a result, bank stocks went bullish 5% this morning (Jp Morgan, Citi, BoA).
More FED schedule below:
newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/treasury-securities/treasury-securities-operational-details
newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/treasury-securities/treasury-securities-operational-details
-Jobless claims 2918000 vs 2500000, bring the total claims up to 36.5 million.
-JC Penny is planning to file for bankruptcy on Friday (05/15/2020).
-Chinese production data is released (beats expectation)
tradingeconomics.com/
-US Import/Export prices are worse than expected.
tradingeconomics.com/calendar
-FOMO buying led the market higher.
-US Retail, Industrial production data,... will all be released tomorrow. Please check the trading economics for more information.
-The huge bounce this morning had 3 key factors: Bank ETFs are bought causing the bank stocks rally, FOMO buying, the gap at 2760 is filled (bounce up when filled).
TA
-SPX is still in squeeze on the daily chart: expecting a big movement.
-RSI is hitting 50%: neutral
-SPX is trading above moving average: bullish.
-On the technical approach: SPX retrace back from 3-consecutive-day drop. Between top and bottom (Dark blue).
-Gap mostly filled at 2760 caused a bounce.
-Scenario 1: SPX will retrace til 0.618 level (2878) then a correction. With this, SPX will retest the light blue line (Neckline of big head and shoulders pattern).
Open high
-Scenario 2: SPX will retract til 0.5 level (2860) then a correction
Open low
Volume is high
Please plan your strategy wisely and don't keep position over weekend (recommended).
Good luck and have fun
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.