IT'S NOT OVER YET
With this chart I would like to show you, why we potentially haven’t seen the "real" bottom of the market yet.
So today is an important day for the markets. After all the new help programs and emergency cuts by several central banks and governments from all country’s in the world, we will see jobless claims numbers released today.
And I think this number will drive the market for the next few days/weeks. We will see in which shape the labour market is in the US for the moment.
If we see a number above 1.000.000 in jobless claims the market could go even lower and break the new lows from Monday.
On the other hand we're standing in front of a turning point from bearish to bullish if you look for the MACD in the daily at the S&P500.
My intuition still says me that we will go lower. Strong days with more than 10 percent per day in bullish direction are a significant signs of a bear market, where these things happen over and over again as a part of a short term correction in a longer term bearish trend.
So stay tuned, I'm looking for the numbers release today before making any new steps in any asset class.
So today is an important day for the markets. After all the new help programs and emergency cuts by several central banks and governments from all country’s in the world, we will see jobless claims numbers released today.
And I think this number will drive the market for the next few days/weeks. We will see in which shape the labour market is in the US for the moment.
If we see a number above 1.000.000 in jobless claims the market could go even lower and break the new lows from Monday.
On the other hand we're standing in front of a turning point from bearish to bullish if you look for the MACD in the daily at the S&P500.
My intuition still says me that we will go lower. Strong days with more than 10 percent per day in bullish direction are a significant signs of a bear market, where these things happen over and over again as a part of a short term correction in a longer term bearish trend.
So stay tuned, I'm looking for the numbers release today before making any new steps in any asset class.
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