SPY continued - OPEC concerns addressed.
Continuation of prior idea.
Still Bearish - readjusted three day trend. Believe EoD was Feds (who holds this over the weekend after today) pumping the market to hit the 248 for close - i.e. good EoW sentiments. I am also still bearish on the OPEC meeting - it was already known that both the US and Russia wanted the flow of oil stopped - Saudis likely want it to be slowed down, but I doubt they want the US and Russian companies which are closing to reopen - more just their own companies and OPEC members which are struggling. I'm pricing USOIL at $25 in reality - even with cuts to supply (demand side is much worse, and will only get worse yet to come IMO). However, the reality is, these readjustments should keep us flat for awhile, specifically the continual fed pump. I am merely projecting, but I don't believe they can keep it up for 2 weeks.
Still Bearish - readjusted three day trend. Believe EoD was Feds (who holds this over the weekend after today) pumping the market to hit the 248 for close - i.e. good EoW sentiments. I am also still bearish on the OPEC meeting - it was already known that both the US and Russia wanted the flow of oil stopped - Saudis likely want it to be slowed down, but I doubt they want the US and Russian companies which are closing to reopen - more just their own companies and OPEC members which are struggling. I'm pricing USOIL at $25 in reality - even with cuts to supply (demand side is much worse, and will only get worse yet to come IMO). However, the reality is, these readjustments should keep us flat for awhile, specifically the continual fed pump. I am merely projecting, but I don't believe they can keep it up for 2 weeks.
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