If you take the 495 stock of the S&P and adjust it for the USD recent devaluation...
We're stuck below a 0.618 retracement, under the moving averages and below what seems to be a declining trend line
So we basically have 5 companies are supporting the rally... with 4 of them being investigated by the congress...
I wouldn't even try to look at it in gold or EUR terms.
Here is the formula:
(SPX-(AMZN*501000000+FB*2851000000+MSFT*7571000000+GOOGL*1360327270)/8300000000)*TVC:DXY/100
PS: I like to adjust it for USD as it gives a better picture of the relative return for investors as for example in this case ,just holing euros would have provided a 9% return YTD.
We're stuck below a 0.618 retracement, under the moving averages and below what seems to be a declining trend line
So we basically have 5 companies are supporting the rally... with 4 of them being investigated by the congress...
I wouldn't even try to look at it in gold or EUR terms.
Here is the formula:
(SPX-(AMZN*501000000+FB*2851000000+MSFT*7571000000+GOOGL*1360327270)/8300000000)*TVC:DXY/100
PS: I like to adjust it for USD as it gives a better picture of the relative return for investors as for example in this case ,just holing euros would have provided a 9% return YTD.
Note
this morning readings:wolfstreet.com/2020/07/23/media-continues-to-misreport-unemployment-claims-31-8-million-people-on-state-federal-unemployment-insurance-week-18-of-u-s-labor-market-collapse/
cnbc.com/2020/08/04/the-fed-is-expected-to-make-a-major-commitment-to-ramping-up-inflation-soon.html?__source=twitter%7Cmain
how to inflate the stock market a bit more (in USD terms of course)
Note
BTW not sure why the fed thinks something that didn't work in Japan or EU would work in the US...
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.