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Dow Jones.Alright for all these people who have no idea what actually happens right now. We are at the beginning of the biggest recession we've ever seen. We have roughly lost 55% on the DJ after the housing bubble popped. So my estimation with about a 50% decline in DJ doesn't seem far stretched off right?! We even have a big support line there?! Coincidence? I don't think so. So my target for a healthy correction would be about 15k DJ If you draw a fiblevel from 2009 low to 2020 high. You can even see 0.618 around that target. Then again we have many factors to take in. Will covid-19 magical disappear or will it mutate and get even more dangerous. I'm no doctor, but if we need at least a year to finde a vaccine I could see us drop even more crazier. Perhaps to 2nd support level. Until then with best regards Health is more important than wealth (I prefer to make videos so I don't forget everything I have in my mind. I edited this text like 5 times after release. Gonna stick to videos for the future)
TVC:DJIShort
by Juba1337
BAC AnalysisI expect chart patterns in the current market to be statistically less reliable than in a calm market. For that reason, any trading decisions made solely based on support-resistance, harmonics, Elliot waves, and other technical strategies are relatively useless for traders who operate on holding periods between 1 day and 1 week. The mood changes with each day's news, and it is obvious from looking at the chart since the initial crash that the market is less fearful, but very cautious. Be mindful of the current situation. Those who are polluting the internet with their extreme theories of market direction are to be ignored. The SP500 is not going to zero. It is also not going to make the full V-shaped recovery as quickly as it crashed. We have a long road ahead before any certainty can be derived, and so I am planning my trades with that long road in mind. In this moment, I am looking for stocks that have overreacted along with the rest of the market, but have yet to really feel the effects that the current state of the world will bring. I think that the financial sector fits that mold, so I am mostly trading banks at the moment. The large banks have been piling on reserves for loan losses, indicated by their collective, extremely low EPS for 1Q20. JPM, BAC, WFC, and others are preparing for the inevitable results of the record-shattering unemployment claims due to COVID-19. Banks will most certainly feel a lot of heat in the coming months. I think that they will have between 6 and 12 months of hardship after the COVID situation is managed or eliminated. Therefore, while bank stocks are in a sort of price consolidation on the charts, their recovery may not yet be upon us. All this is to say that I expect a move toward the YTD low if we don't experience a breakthrough in virus treatment, testing, or immunity in the next few weeks. University seniors will be graduating in the next couple of weeks, entering a job market that is, at the moment, several times worse than what the graduates in 08-09 dealt with. Student debt will continue to pressure many of them, Trump will almost certainly have a second term, the Fed is holding up the market with an unprecedented cost to the public, interest rates will be at virtually zero for at least a year into the future, and an already-struggling retail industry is being crushed. These are just a few of the factors that I think put a lot of downward pressure on bank stocks. Looking at the chart, BAC is trying to make a decision near the bottom of its channel again, and I don't think it will make a decision before market close today. Monday it could open higher with a bounce off the channel, but that will not signal anything about how it will move through the summer. It seems to be running out of steam on its hard climb up, and I expect that it will move to flatten through this month. If the market's uncertainty causes the stock to move laterally for an extended period of time, it will present opportunities for traders to capture short-term swings. The only thing that can send it higher is control over the virus situation, but I still believe the stock would be defeated at the heavily resistant area from $26 to $29, and that will be the story of it for the rest of the year.
NYSE:BAC
by HSCM
Bitcoin UPDATE - Take Profit Hit - What next? (Banks, ...)Hello Traders! Cheers Guys we hit our Take Profit on Bitcoin. It is the weekly Supply Zone. What next: Now we should definitely wait for the weekly close. Also we need to watch the lower timeframes. We need to see how the market will react on this weekly Supply Zone. Why should I care about Supply and Demand Zone? On this zones banks and financial institution will jump into the market. The previous down move was caused by them. Therefore there is the possibility that they have orders left at the Supply Zone. We should try to swing with them again to to the downside. The Take Profit should be the weekly Demand Zone. Check out my previous Bitcoin Analysis and Cheers my friends. The analysis went right. Updates will come soon. That was my Idea and I hope you liked it. Please leave a LIKE if you like the content. In the comment section you can share your view and ask questions. Thank you and we will see next time - Darius.
BITMEX:BTCUSD.PShort
by DariusFxTrading
Must go down to go upWe are still in an uptrend after that small breakout from the diamond top. The 4hr chart clearly show's we're still in the process of completing the ascending/rising wedge, a bearish chart pattern that breaks DOWN 68% of the time. We should get another move up for another test of the upper trendline, or 1:1 Gann Fan (highlighted in GREEN). It makes sense to go back up to this area, otherwise it will leave a CME gap that WILL eventually get filled. Going to wait for a break out above or below the upper/lower trend lines before making a move. Hope you're all having a great weekend! If you agree, please give me a THUMBS UP and/or a comment :) If you disagree -state your case below and let's put our brains together on this!
BITSTAMP:BTCUSD
by BitCapJNY
Future of Financial Instruments and CryptocurrenciesIn the article from Sep 28, 2016 , I talked about the fact that over the next 5 years there will be a financial crisis, but how events will unfold for the existing global financial system is difficult to say but we will try to analyze and draw conclusions. We see that in 2013 a new financial bubble in the economy was launched, it is based on completely new instrument and technologies. This is no longer real estate, not precious metals, not stocks, not oil. This is a new period in the global economy. The international system is undergoing a paradigm shift in determining the value of money. A completely new type of financial instrument is developing in the global economy; it is a Cryptocurrency based on Blockchain technology. This is a currency endowed with value, based only on the number of people who agree to use it as a payment instrument without the participation of intermediaries in the form of banks. In this financial system, the emission of cryptocurrency does not depend on the activities of the Central Banks, but on the activities of the users themselves. By connecting your processor to a collaborative network, performing certain calculations for the needs of the system, you are rewarded by receiving cryptocurrencies into your account/wallet. Imagine that soon a wealth of all nations will be determined not by gold and foreign exchange reserves, not by a wealth of minerals, but by an amount of computing power of computers in a given state and the people involved in the system. We can see it happening right now. In the coming years, we will see cryptocurrencies of large companies (Google, Apple etc.). Telegram (TON) is already at the final stage, Facebook (Libra) is in the process of developing its cryptocurrency. The immediate benefit is clear because all of them immediately have a huge number of users for their cryptocurrencies. The need for stocks as an instrument of the old financial system will disappear since cryptocurrency is both a means of payment (money) and a means of investment (stock) - Security Tokens. What is the significance of cryptocurrencies and the system of involving people in the general calculations of the new global network (Blockchain)? When cryptocurrencies absorb a large part of the money supply in the form of investments, payments, purchases, loans, the need for “fiat” money (dollars, euros, etc.) will disappear. This will entail a collapse of a classical banking system and its replacement to a new one. This incident will have adverse consequences for all countries. As is usually the case, the value of all instruments, including the cryptocurrencies themselves (for a short time) will collapse. In the future, money and financial instruments based on blockchain technologies will recover so much faster than classic currencies. It will be possible to wait out this strong crisis and reboot the financial system in gold and especially in silver in the form of ingots, which will grow XX of times for a short time. This scenario will be implemented until 2025 . Those countries who will understand the prospect of replacing fiat money with cryptocurrency the quickest way will become the new world leaders (e.g. China). In the meantime, you can simply follow or participate in the creation of a new global financial system. Today we add to our portolio BTC Best regards EXCAVO
BITSTAMP:BTCUSDLong
by EXCAVO
110
XLF Strong compared to other sectorsTicker: $XLF Huge gap up open and bulls ran with it. The only reason why SPY was so strong is because of the financial sector. XLF closed above the All time high (30.33)! We need more bull volume to confirm it is a clear break or else I would still consider it a double top with 30.33 if we reject. If we consolidate pre market and bulls open with fire, that would be ideal for bulls. If we consolidate hard, expect a 4 hour high low to form because retesting the All time high of 30.46.
AMEX:XLF
by DerekTradeEZ
US oil prices had their biggest spike. How to earn on it?US oil prices had their biggest spike. Oil prices soar after attacks on Saudi facilities and ended nearly 15% higher on Monday. Abruptly ceased more than 5.7 million barrels per day of production. We consider this situation a unique opportunity for earning. The fact is that the disappearance of 5 million b / d of oil is a temporary phenomenon. According to some estimates, most of them will return to the market in the coming days. Also, Trump is ready to sell oil from US strategic reserves to stabilize the market. Accordingly, the current growth is an emotional reaction. So oil will be adjusted. Given the scale of yesterday's growth, the correction will also be significant. So today we recommend oil sales. It may be necessary to be in the position for several days, but the goal is clearly worth the time spent. Another opportunity for earning. The Russian ruble entered the sales zone. The next round of sales (final) we will start with 62.50 (unless, of course, the price reaches these marks). And finally, the recommendation to buy gold and other safe-haven assets is also relevant in the light of current events. The US has already managed to blame Iran for the attack, so in theory, the situation could be developed. Meanwhile, financial markets received another batch of evidence in favor of the global economic slowdown. This time, China gave cause for disappointment and concern. Industrial production in Sino grew by 4.4%, which is the minimum increase since 2002 (!). So if the oil shock goes on, the chances of a global recession will increase. Today is formally out of surprises. It is worth paying only to industrial production in the USA. But in general, markets are beginning to prepare for the Fed results announcement. But we’ll talk about it tomorrow. And today, we note that dollar sales are still one of our priorities in trade.
FX:USOILShort
by Trade24Fx
Capital One data breach means nothing - BullFundamental Analysis It appears Capital One isn’t the only company affected by this--it’s just the first company to publicly acknowledge it has been hacked and the most proactive in addressing the security situation. Meaning... as soon as other companies report the same, they will get the bad attention. Because of the breach they will lose $150M-300M, which is nothing for this size of a bank. The real impact might be more of sentiment towards the stock though. Equifax very recently had a much more significant breach, and the stock just brushed it off. Technical Analysis Watch the SMA(50) as support. OBV and RSI=52, did not reach dangerous levels on this drop. MACD did cross below the signal, but it is on its way up.
NYSE:COFLong
by dorfmanmaster
UPDATE: QUDIAN INC - NYSE: $QD Continues To Grind HigherBack on June 18th, we Profiled QUDIAN INC - NYSE:QD with the stock trading at the $7.50 level at that time and noted that it appeared that Buyers were perhaps becoming more aggressive with their purchases as the stock was grinding higher and registering higher lows and higher highs, which remains the case today as evidenced in the Daily chart above. While QD printed a recent high just beneath the $9 level, we continue to witness the stock trading above all of its important moving averages 20/50/200 DMA's, which depicts a favorable technical posture as well as continuing to grind northward. Although QD has yet to overcome and clear the $9 figure and Hold thus far, both investors/traders may want to continue to monitor the action closely in the days/weeks ahead for if QD can take-out the $9 figure and perhaps of more importance, clear the $9.15 level and 'stick', we believe that such development would likely trigger its next advance into our original/initial $10-$12 zone objective, for starters. Nonetheless, we have a stock where once again Buyers appear to becoming more aggressive with their purchases. Furthermore, QD remains in fine technical shape across multiple time-frames Daily/Weekly/Monthly and in the process, riding within a channel that potentially suggests that once the upper boundaries are hurdled, its likely that higher prices are in the offing. Thus, both investors/traders may want to (continue) put QD front-and-center on their radars seeking further clues/evidence of a potential northbound move in the making.
NYSE:QD
by InsiderFinancial