The markets are sick with their own virus.
I have been trying to avoid the doom and gloom media as much as possible. I prefer logical information without the sensationalism. On February 24th I posted a short position on the SPY, I hope you were able to exit at or near that time. On this weekly chart for the SPY we see trend lines for the highs and lows going back to 2008 (white lines). This weeks action broke through two support layers. The first one near $250 was a very crucial support in my opinion. This support level goes back to the financial crisis of 2008 and has provided supported for three selloff phases since 2008. This week broke the $250 support level and then some. The yellow line at $237.36 was the reversal point for the Oct. 2018 selloff. For most of the week, price was bouncing off this support. Today's afternoon selling broke this support. The next confirmed support level that I see is in the $210 range.
Economic conditions are going to get worse before they get better. The global economy is screeching to a halt. I recommend learning to short the market with cheap long put options. Long puts automatically give you a max lose situation as you can only lose what the option cost, nothing more. This strategy leaves your cash on the sidelines and still gives you upside. The upside on options can also be very lucrative. If you have sold most/all of your positions, I recommend keeping most of that money on the sidelines. Investing in cheap long puts is a great way to hedge your long positions or to short the market and make money. Most retail brokerage firms don't want you to know how to short the market, they expect you to be the lambs to slaughter when the markets shift. This is a large market shift that large investment firms are most likely raking in the cash as they short the market.
The two indicators below are the Cash in/cash out Report (CICO) and the Cashflow. Both of these indicators are free to use on Tradingview. The CICO measures the sum of new money in and out of the market. Cashflow is measuring the change in close price x the volume, it acts like a digital on/off electrical signal. I am not affiliated with any news outlet or investment service. I love programming and I hate the financial wealth gaps in our country. I have lost large sums of money in the market, I wanted to give up because of it. Instead my goal is to create free software and indicators designed for you to take your hard earned money back from the greedy hoarders at the top of the financial food chain. There is a small group of very rich people getting richer during this crisis while millions are literally worried about life and death. Some call this capitalism. However, this selfish mentality confuses me.
I hope you stay physically and financial healthy during this time of crisis.
Economic conditions are going to get worse before they get better. The global economy is screeching to a halt. I recommend learning to short the market with cheap long put options. Long puts automatically give you a max lose situation as you can only lose what the option cost, nothing more. This strategy leaves your cash on the sidelines and still gives you upside. The upside on options can also be very lucrative. If you have sold most/all of your positions, I recommend keeping most of that money on the sidelines. Investing in cheap long puts is a great way to hedge your long positions or to short the market and make money. Most retail brokerage firms don't want you to know how to short the market, they expect you to be the lambs to slaughter when the markets shift. This is a large market shift that large investment firms are most likely raking in the cash as they short the market.
The two indicators below are the Cash in/cash out Report (CICO) and the Cashflow. Both of these indicators are free to use on Tradingview. The CICO measures the sum of new money in and out of the market. Cashflow is measuring the change in close price x the volume, it acts like a digital on/off electrical signal. I am not affiliated with any news outlet or investment service. I love programming and I hate the financial wealth gaps in our country. I have lost large sums of money in the market, I wanted to give up because of it. Instead my goal is to create free software and indicators designed for you to take your hard earned money back from the greedy hoarders at the top of the financial food chain. There is a small group of very rich people getting richer during this crisis while millions are literally worried about life and death. Some call this capitalism. However, this selfish mentality confuses me.
I hope you stay physically and financial healthy during this time of crisis.
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