US30 Weekend Summary

Trade Journal....
Hi it's me talking to myself again.
Dow Jones Futures have ended the week on a positive note despite little positive news of the C-Virus under control.
Technically, the Index future has broken out of the downtrend line and attempting to trend up with Higher High and Higher Low.
There could be resistance at 25000 and with Stockchastics High, there should be a retracement downwards soon.
I have decided to insert the chain of events so we could see if there is any corelation.

Event Markers
March 18, 2020: China reports no new local infections
March 19, 2020: Italy's death toll surpasses China's
March 20, 2020: New York City declared US outbreak epicenter
March 23, the Federal Reserve released another raft of monetary stimulus
March 24, 2020: Japan postpones Olympics
March 24, 2020: India announces 21-day complete lockdown
March 26, 2020: United States leads the world in COVID-19 cases
March 27, 2020: Trump signs $2 trillion stimulus bill
March 27, 2020: UK Prime Minister Boris Johnson tests positive
March 31st, amid other technical changes, the Federal Reserve lowered capital requirements for banks.
April 2, 2020: Global cases hit 1 million
April 6, the Fed announced that it will establish another lending facility to help provide financing to expand the Small Business Administration's loan program under the stimulus bill.
April 9, 2020: Evidence that first COVID-19 cases in NYC came from Europe
April 9, FED provided details for its loan program and announced a slew of others which it says will extend up to $2.3 trillion in loans
*Sources ABC news, SCMP, Investopedia

Note

March 15, the Federal Reserve set out several pieces of monetary stimulus:
cut interest rates by a full percentage point, down to a range of 0.00% to 0.25%. This dropped the fed funds rate to the level it was before the rate increases starting in 2015.
Federal Reserve restarted quantitative easing with the purchase of $500 billion in treasuries and $200 billion in mortgage-backed securities.
The Fed lowered the interest rate on the discount window by 1.5% to 0.25%. The discount window is another way the Fed lends to banks.
The Fed, as part of a transition to a different type of bank reserves system, lowered reserve requirements to zero, effective March 26. This transition to a new system was already happening but the Fed says this will also help to loosen credit markets.
the Fed encouraged banks to use their capital and liquidity buffers to lend, which are funds kept in reserve for tough times

Note

Remdesivir tested to be working with patient,
Next Target: 26000

Note

Possible Gilead coronavirus treatment remdesivir fails in China trial: report
24 April . Dow did not fall further

Note

1st May: Gilead to provided 140,000 doses to hospital for patients to opt to try treatment
Sources: SCMP

tradingflywheel

Also on:

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.

tradingflywheel

Also on: