Pyramid scheme noos numero 131- Dan Lok, motivation success coach that preys on impressionable 20 yos, sued by real owner of "his" mansion 😏
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Yikes. The self proclaimed "best selling author" and "world's #1 closing & influencer business strategist" that got into 6 figures debt and failed 13 business attempt in a row before "becoming a multi millionaire that now wants to help students find success", has been sued by the actual landlord of his mansion after failing to pay the - ahem - 35,000 monthly rent.
The mentor migrated from Hong Kong to Canada early on, and soon his father would have to declare bankrupcy and would not be able to support him & his mother. And this is when he learn hard honest work. Or nothing at all and just followed dad footsteps.
His 16 to 30 year old students are going to be so disappointed :( Maybe he can convince them to pay his rent? Now that would be hilarous.
2- BLM & Antifa gangs terrorizing the USA, al-Qaeda delighted, ISIS predictions make me look like a permabull 😳
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I say this often, but imagine my surprise.
An impressionable and not very bright security agent that was "peacefully protesting" (I cringe everytime I read or write this 😆) ran in the back of a man and kicked him in the back of the head, like the courageous & virteous hero he is. The man was made to sit by the "right side of history" BLM gang that ganged up on him after he defended a trans woman that they were assaulting.
The media is silent obviously. Police said his condition was stable. Translation: he is on life support and might never wake up and if he does he'll be handicapped for life, but we don't want people to fight back and the situation to escalate.
The mastermind attacker that was identified by 4chan said "wElL hE wUz raCisT sO wE hAd tO deFEnd OurSelVEs" (by hitting him from behind when he was sitting down and not hostile).
A black man, another gullible 25 years old, probably brainwashed by the media and sneaky little politicians that whites are hunting down blacks and getting away with it, non ironically just EXECUTED a little 5 year old white boy. The creature defended itself with some gibberish along the lines of "well he was on my property duh he was very suspicious amaury live mattered".
Some BLM supporters said they were happy about it. Even on non anonymous accounts. Nothing happened to them. And the media is silent as usual.
Al-Qaeda is overjoyed with the US situation, is writting about it, and hope they can use the social issues in the USA to recruit ... you know it already, as usual gullible young (mostly) men 15 to 30. Here are all the ages of the 911 terrorists: 33 22 28 22 25 23 24 22 20 22 29 26 24 25 20 26 20 24 21. Something wrong with human brain development.
For its part ISIS, that wants to establish a racially pure 4rth reich-caliphate where white women will be sex slaves "just like in the good old days" and blacks cotton pickers, is seriously pissing itself, no other way to put it. Good job big brain commies you are even making racists happy in Iraq.
This is pretty much what the Islamic State is saying, from one of their editorial in my own words: "Just like the non-believer infidel dogs scoffled at the chinese virus and did not expect it to spread and did not prepare, they are now studying the US situation (god's punishment) and not preparing for it, because the US situation in that country will explode we have seen nothing yet and it will also spread to the entire world. Growth is gone, company bankrupcies are spreading, unemployement crime and poverty are spreading and there is not any hope this nightmare will end. Other countries are as weakened as the US by the way they handled the pandemic as well as years of economic social & political ills that have eaten them away (gee they got a point). And once the unfaithful countries will burn to the ground they will stay away from the region and the true muslims will finally be able to rid the arab world of the tyrans (and establish a New World Order 😉)."
3- Greece-Turkey migrant & border crisis: France sends warships. "Covid Hoax" Belarus: NATO troops at border 🚢
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The mainstream media just whined that Greece sent 1,000 migrant away to the open sea.
So they have migrant issues, border issues, plans were "discovered": Turkey war plans against Greece.
There also have been some clashes, and recently Turkey has been exploring Oil in contested sea.
France has taken the side of Greece, and sent a few ships & planes.
The main subject is the border dispute but hordes of migrants are also part of it, and I think the root.
A few months ago Turkey even threatened Europe they'd let millions in if they did not receive money.
Migrant will forever keep coming to Europe as long as the GDP per capita will be higher and they will be benefits. What do you expect "come here we offer free money". West africa has 120 mouths to feed for 60 workers while Europe is something like 60 mouths to feed for 100 workers.
So poor countries will stay poor and keep making 10 babies and will keep migrating...
It never worked and comes with its issues so Europe and NA will collapse of itself anyway, and that will solve it.
There is also an investigation after Greek troop are suspected to have shot some migrants.
The kills happened after Turkey let migrants flood in Europe back in March when they threatened Europe for money as I said.
It all started when Morocco and Lybia closed the gates a while ago, leaving Turkey as the only entry point to Europe (for those that don't want to end up as fish food).
The UK is also pretty pissed at France that keeps throwing boats of migrants to them. Nice powder keg.
The Soviet Union never had any migrant issues... Well they did by Emigrants, not Immigrants.
4- France "socialist" Jean-Pierre Chevènement: "Our society is falling apart and I am worried for the republic" 📉
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A retired politician that served as french minister several times, for different functions, member of the socialist party (France left) gave an interview recently.
He is rather satisfied of the comeback of sovereignty (socialist, not marxist, and by the way even George Soros is pro sovereignty oh well officially he is).
JPC calls himself a republican. Sight, semantics. He says migrants should not be thrown away and be given a chance, but at the same time they have to integrate to the republic (not burn its flags and spit on policemen). Oh boy, the socialist from the 90s 2000s is a white supremacist!
I remember seing him down the street back around 2000, every one was polite, he did not have plenty of guards. He'd probably get stabbed in the back today, how times have changed...
The french socialist party has really gone to crap, I mean popularity wise. A decade ago the lame president wanted to force "the rich" to pay 75% income tax or more, and had a confiscation tax (socialist France already has a wealth tax but this was bonus), because he does not understand that currency is not the same as purchasing power. By the way the whole world already has a wealth tax around 3%, it is called inflation.
Their results are not as bad as the UK labor camp, maybe they'll learn a lesson and not go full extreme.
JPC says that tribalism is threatening the republic, and society is divided and more and more violent (no mention of media & migrants).
The ACTUAL SOCIALIST (not megacorp globalist socialist) says that it is worrying and saddening that PATRIOTISM is disappearing in France, and that we can not have civility (an important french value) if there is no PATRIOTISM.
Which is necessary for the country to regain its (tech & industry) independance.
Note from me: some countries have come to rely a bit too much on foreign country for industry needs - industry is the real wealth creator - and only rely on services. Global trade is nice but full reliance is stupid and prices will be paid.
He condemns the removal of statues and says France should not bow down to intimidation from "decolonial" and "racialised" gangs.
There is more in the article but then it differs from the global subject and don't want to write a book.
Lmao there is a good one "Those that sucked the SOS racism cow udder back then did not go far". Ye go figure.
The communist party in France does not support these clowns (the "peaceful protestors"), not sure about the joke that is now the socialist party, the right and far right don't, not sure about the cattering center. Plus France already knows socialism well, and it has not been ponzi scheming students for decades, and it has not been abandonning people on the ground in front of hospitals, literally letting them die in agony because "sry can't afford it", the french are always striking and complaining but they don't have a reason to be that mad.
I don't think the country will burn, but there are challenges. Might see Frexit in not too long. Maybe the end of the Euro... Germany gains so much from it, France loses so much.
5- Goldbugs euphoric that Warren Buffet sold banking stocks & bought some gold stocks: The Gates Are Open 💸
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Berkshire bought gold stocks with some pocket change, a mere 500 million, and also sold alot of banking stocks.
Goldbugs are very happy. One reason it allows the hedge fund sheeps to start buying gold & silver.
If the price goes down they can always say "well Warren did it".
Years ago Buffet & Munger had the biggest silver position in the world, 129 million ounces I heard.
So if they started buying and this is a possibility... There could be some big buying.
Gold is above $2000 once again, but I think we might still be in B. Will short if the price goes under B(min) and will buy if we go above A high.
If you calculate gold inflation adjusted price compared to the start of the XXth century, it comes to $500/oz.
Compared to GDP, MZM, M1/M2, the world money supply, world pop, etc you can get to pretty interesting numbers.
World pop more than quadrupled in the last 100 years, so brought to the population ignoring the change in supply, that's $2000 gold here.
Then add the gdp per capita immense growth, not Venezuela thought, they're at -80% already, probably even lower. Haha. Nice social programs.
Ok the world gdp grew more than 25 fold, so that's at least $12,500 gold ounce.
I don't think the supply grew much.
There are clowns saying "bUt gOlD iN thE sEa" sad. Not even going to argue about the economics or logic of it.
Just going to laugh and be sarcastic about it. Remember when for thousands of years there were big open mines in particular in west africa and the price did not fall?
Remember ancient days when people could just look down and pick up gold nuggets and price did not just go to zero?
Remember the US gold rush with rivers flowing with gold and people picking it up and the price remained strong?
Remember when we just all completely gave up gold because it is all around us, which is never?
6- China full of permabears, conspiracy theories: fear of ending up behind a Financial Iron Curtain (like Iran)
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Remember the biggest USD bagholder in the world, China, that was in the denial stage recently but wisely reduced its risk by buying gold?
They are between anxious and panicked now. There are not hiding it anymore. No more masks, no more lies.
They bought into the biggest ponzi scheme in history. They worked hard for billions of hours and gave real things to fatmericans.
And what did they get for it? Worthless magic bean money 😂 A "promise". A promise that "ye sure one day we'll provide you with goods for this".
Their explosive growth has ended. They really thought communism was a big success. They have far higher inequality that EU(28) and even higher inequality than corporate infested america. They got very hopeful when they became less poor than African countries, and when growth accelerated (because of special economic zones) they got real euphoric. This was the top. They have been hit in the face with a big slowdown, and now have all the old problems (but not the wealth) of the west. Oh no so close.
Their gdp per capita reached a whooping $10,000/capita and they actually thought they'd become a rich country. Funny.
Now they are doubling down on communism, sending Uyghurs to concentration camps, destroying statues of Buddha (they must be racist statues).
Oh boy.
Only 2 things have fueled their growth:
- NON COMMUNIST SPECIAL ECONOMIST ZONES WHERE LIBERAL FREE TRADE IS ALLOWED (and btw tax rates are at most 20% or less)
- APPLE SWEAT SHOPS (etc)
Trump stated on twitter I think, that he wanted to fight income inequality. Dum dums acted surprised like this is not what he has done.
And basically this + everything else mean making the USA a net exporter again or at least not a ponzi schemer.
Bringing jobs back to the US (Apple & Google etc are very mad they might not got their cheap slaves in suicide net surrounded factories).
Well and so on.
So China would not only lose its main source of income because that's all this garbage regime can do, but they would also lose their lifesavings if the USA decide to just exit scam :)
Rip.
Politicians and economists (the guys that are always wrong) have been publicly discussing their fears of the USA freezing their bags, and cucking them out of the dollar world order.
Oh my USDCNH is sh***ing itself while I type, it is going below all my levels.
Mentionned it in my "plan for the week" idea. Here it goes. It's already far for me to chase H1 I want a bigger pullback otherwise no go.
It's going to zero.
Useconomy
GBPUSD looks exhaustedI feel the inability for GBPUSD to break through the 1.315 level means it looks fairly exhausted and i'm expecting a drop in the coming weeks to 1.2760 or thereabouts. If it wasn't for the USD being tragically weak at the moment i believe this would happen sooner rather than later. The UK economy is officially doomed for now, the US not so far behind. Lets see how this plays out.
SPX: just some infosHi Guys,
Here what happened two weeks ago when Powell testified during the Three Days of the Condor.
Fed Chair Jerome Powell and Treasury Secretary Steven Mnuchin are due to testify before the U.S. House of Representatives Financial Services Committee today at 12:30 p.m. EDT (1630 GMT) to discuss how funds were disbursed to households and businesses.
Will NY buy the Index?
Thank you for your support and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
SPX: Daily some infoHi Guys,
following the Three Days of the Condor, SPX futures found three key supports:
1) Level 3000;
2) 200SMA;
3) 50SMA.
Will it bounce or will it cross?
Here a snapshot of the hourly candlestick chart providing some infos:
Thank you for your support and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
Money flowing out of the market & a major momentum switch!!The market is bouncing around key support & resistance levels but some of them are soon due to be broken. The squeeze momentum indicator is signaling a first bear run since the drop in February–March. Also, the money flow index indicates that the money is rapidly heading out of the market.
When combining technical analysis with the fundamentals of the economy I see it more than suitable for the market to see a major pushback.
3 big drops since BTCUSD ATH and the next move is going to ...Given that:
For the time being, Bitcoin (BTC) is well correlated with traditional markets.
What this chart shows me:
Bitcornz on the Weekly TF. 3 major drops since ATH. All the bullish rallies and comebacks to date have yet to really break free of the downtrend, however it's above it longer now the previous times. it's like watching an asset dance on a knife edge for as long as it can before it makes the next move either way.
How The Biggest Whale Affects Everything:
As long as the Fed keeps buying the FAANG bonds and basically p0wning the market / transforming the USA into more like the USSA .. central Kontrol over everything. ... well as long as the charade lasts, trads keep up the PAMP and bitty may ride along, for now, anyway.
The Great Comparison:
However if you look at the markets compared to right before the Great Depression ... Well ... it basically looked a lot like this. See DJI for example. Highly overvalued stocks being propped up by artificial cash infusions in to the markets. and there was a signal dump and recovery and then shortly after there was the big drop. It looks an awful lot like that now, too. of course systems are "stronger" now but still ... the system is also so much bigger .. the damage from any crash now or in an even larger, more centrally controlled future, will be proportionally bigger as well, in all likelihood.
WDUT?
What to expect in the near future!!The turn in price movement on June 11 confirmed an end for the S&P 500 retracement. Now that the overall trend has been confirmed to be bearish, I have presented three possible scenarios for major support. These Fibonacci levels (violet color) are support levels of the 2009–2020 bull rally. The levels with a green and yellow background are Fibonacci extension levels for the bear movement.
S&P 500 Elliot Wave Correction Hello all,
I do not typically do any analytical content out side of cryptocurrency, but with the state of the markets and everything happening I thought I would take a look. This analysis is just a simple thought process so do not trade based off this.
S&P 500 in Elliot Wave Correction. This seems to be a possibility. After the unfortunate spike in the confirmed cased of Covid19, the market took a hard hit, again. This new wave of cases is possibly linked to the increased crowds, parties, and gatherings for memorial day a couple weeks ago. If this is the case, I have reason to believe that it is just the beginning of the confirmed case increase. I say this because very recently there has been a large amount of protesting in the states, millions of people gathering together. I will not comment on that of course, but I will say that it is the perfect storm. It may have just helped spread the virus even more than ever before. It is unfortunate as these predictions on markets are not just about the value of something, but it is a reflection of how bad things are. So keep that in mind. I hope this was helpful.
Stay safe all, trade safe, and stay healthy.
Thanks for reading.
- Max K.
First rebound of the 2020 market crash is DONE! GOING DOWN!The figure shows how long the previous market crashes have taken in time and how the crashes have always had significant upwards retracements in it. The overall trend of 2020 is now confirmed to bearish and there is a lot to come in the near future. Stay tuned!
Gold ShortAfter retesting 1709.73 and possibly going farther to 1718.11, which is a well respected pivot point of resistance, it might go down following its trend. we are seeing a lower high lower low pattern as well in the 1 hour timeframe. after reaching the said pivot points of resistance, we could very well expect the price to go back to 1699.89 which is a possible first level of support then probably will go back to the previous week low of 1681.55. possible manipulative moves are to be expected during the early moments of the new york session so be careful as well.
also the us economy is going up due to the fact that the stocks in the us are rallying high and recovering from the previous months loses. so potential short entry is to be expected after several minutes of the new york open.
Waiting for the stark reality of economy to be exposed!Op-ed: The charts show global stocks could retest their March lows later this year
www.cnbc.com
Key points:
From a technical analysis perspective , global stock indexes in March wiped out critical long-term support factors pertaining to the entire multiyear rallies since the conclusion of the global financial crisis bear markets, that have driven many stock indexes to all-time highs.
From our technical perspective, although the short-term outlook into June remains for further upside, we do not see most of the major benchmarks challenging the current 2020 cycle highs.
Given that markets remain contained below the peaks from the first quarter of 2020 at the end of the second quarter and taking into consideration the above-mentioned damage inflicted to the long-term charts, the threat in the next two quarters is for a roll back down lower into the very wide ranges established by the first-quarter sell-offs.
From a macroeconomic perspective , a more negative outlook could be driven by the lifting of lockdowns allowing for the removal of fiscal accommodation by governments, which could expose the stark reality of a post-pandemic global economy, damaged by the measures taken during global lockdowns.
Furthermore, there is also the risk of a second wave of coronavirus cases and deaths as lockdowns are eased, potentially seeing lockdown measures reinstated. Finally, the growing resumption of tensions between China the U.S. (as well as other nations), could lead to a renewal of the 2019 trade war.
With most commentators agreeing that the economic recovery is likely to be U-shaped at best or even L-shaped at worst, the likelihood of a V-shaped recovery by the global economy seems unlikely, which is likely going to be needed to continue the aggressive V-shaped rebound in stock indexes.
In summary then, although the short/intermediate-term outlook remains for renewed upside for the major global stock averages into June, we do not see a resumption of intermediate or longer-term bull trends. Rather, markets could likely be contained within the broader ranges defined by the first-quarter 2020 bear markets, or possibly even into the second half of 2020 to retest the March 2020 bear move lows.
Reviewing the correlation between Unemployment & S&P 500As the figure shows there is a clear negative correlation between U.S. unemployment and the S&P 500. Currently, we are seeing extreme highs in unemployment and the recovery will certainly take some time.
To see more reasoning for a short position, please look at my previous post on the S&P 500 (Witnessing a bubble created by people's unrealistic expectations)
Witnessing a bubble created by people's unrealistic expectationsA lot of inexperienced newbie investors are piling up the market yet the reality of the economic atmosphere is not robust at all. A lot of companies are filing for bankruptcy, consumption, production, and employment are extremely low (and not expected to recover fast). As small, inexperienced investors are rushing into the market, the big institutions are more aware and cautious of what is happening at the moment. The prices are at an unsustainable level and we are living a bubble that is created by people's unrealistic positive expectations.
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Billionaire investor Stanley Druckenmiller says the stock market's risk-reward is the worst he's ever seen — and downplays the Fed's ability to rescue the economy
He also worries that a V-shaped recovery from the coronavirus pandemic is "a fantasy."
markets.businessinsider.com
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Young investors pile into stocks, seeing ‘generational-buying moment’ instead of risk
The major online brokers — Charles Schwab, TD Ameritrade, Etrade and Robinhood — saw new accounts grow as much as 170% in the first quarter, when stocks experienced the fastest bear market and the worst first quarter in history.
“Traders here are ‘buying the dip’ in a lot of names with questionable fundamentals now, i.e. airlines, highly volatile stocks, low in recent price momentum, and ones with that have recently (in the last 3 months) had lottery ticket like upside payoffs occur,” added Krause. “Robinhood investors are making all the classic mistakes in the short term. May work for today’s market, but not in the long-run if repeated.”
www.cnbc.com
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Besides what's mentioned above additional factors like the possibility for a second wave of infections, U.S.–China tensions, and many more are currently being bypassed by the market.
S&P & DJI Showing Strong P ActionBoth S&P and Dow creeping up to the mid point of their respective inner upward channels and flexing their strength. These markets aren’t out of the woods just yet and with Q2 yet to close out with one more month to go, will we see these markets pop up to the previous highs and safety point or trickle back down like mid Feb/march’s P action. A break of 2723.3 on the S&P and 22931.5 on the DJI I’ll be very bearish, however for the time being strength is being shown.
The following still applies, just updated overview charts:
S&P: If P action closes below the orange line at 2723.3 attention will turn more bearish and watch for market to fall to 2460.2. In this instance will reassess market dynamics as it may bounce in this range or continue to fall
Dow: The same flows for Dow Jones with P action closes below the orange line at 22931.5 attention will turn more bearish and watch for market to fall to 20842.4. In this instance will reassess market dynamics as it may bounce in this range or continue to fall.
DJI end of the upwards momentum & signals for an explosive move!Squeeze Momentum Indicator implies that the upwards retracement after the bottoms has come to an end. However, it has not given a clear signal of the direction of the next momentum in the market. By combining this information with the Volume Flow Indicator (VFI) we can see that the upwards trend is really losing its vitality. Besides this the occurring negative divergence with the price gives a bearish signal that may signal a major negative price move.
However, you should notice:
Divergence isn't to be relied on exclusively, as it doesn't provide timely trade signals. Divergence can last a long time without a price reversal occurring.
About the Squeeze Momentum Indicator
This is a derivative of John Carter's "TTM Squeeze" volatility indicator, as discussed in his book "Mastering the Trade" (chapter 11).
Black crosses on the midline show that the market just entered a squeeze ( Bollinger Bands are with in Keltner Channel). This signifies low volatility, market preparing itself for an explosive move (up or down). Gray crosses signify "Squeeze release".
About the Volume Flow Indicator (VFI)
VFI, introduced by Markos Katsanos, is based on the popular On Balance Volume (OBV) but with three very important modifications:
Unlike the OBV, indicator values are no longer meaningless. Positive readings are bullish and negative bearish.
The calculation is based on the day's median (typical price) instead of the closing price.
A volatility threshold takes into account minimal price changes and another threshold eliminates excessive volume.
CNBC: "BABA stock could forecast the global economy's next move"CNBC news: www.cnbc.com
One Chinese stock could forecast the global economy’s next move.
Key points:
Alibaba “stock started rolling over in very early January before the Chinese stock market did and certainly before the global economy started to slow down.
So in other words, its weakness was a good leading indicator to tell us that the coronavirus was going to have a bigger impact than a lot of people thought,” Maley said Tuesday on CNBC’s “Trading Nation.”
Alibaba stock executed a double top pattern before the first crash and is now heading replicate the pattern again. I personally wouldn't take this as any kind of clear sign as I'm doubtful of how good of a leading indicator Alibaba stock is for the global and U.S. economy. However it's interesting to wait and see how things play out for both, the S&P 500 and Alibaba.
US Stock market approaching CRITICAL area
i learned a big lesson from R. N. Elliott the founder of wave principle- impulses consumes more price rather than time and corrections consumes time rather than price. i a market drops quickly and rises slow you should consider it as a downtrend and vice versa. so to speak one may come up with the question that US stock market dropped fast in the past 10 years and rose slowely why it is also in an uptrend?
to answer this critical question i should say that us central bank is offsetting us economy and for doing so they will answer tomorrow not today but they will be responsible for the actions. the economy should cool down inflation and deflation should co-exist one without another is devastating. we have inflation without deflation the Monetary base is always rising interest rate is close to a point where there is chance to be negative. we are experiencing biggest money printing in the history (by absolute size not relative) they are trying to keep economy booming forever but that's not the solution we should let economy to be free and do its cycles as it is necessary.
after all is think this economy is in a downtrend since 2008 but it is off-setted. this fact that a market falls really fast is a sign of less interest to hold and less orders below the price. sell order is always ready to take down this market but buy orders are weak. the value of market is a fantasy made by us central bank and it is going to be someday in the road of reality.
i measured the time from the all time high to the recent march low at 2187 and i noticed that we are reaching to a time ressistance of 1.618 times from top to bottom and also 0.618 retracement of the massive downtrend. also it appears to be forming a little double top formation.
if market drops below 2790 level it will get harder for the economy to recover any time soon keep an eye on 13th of may (tomorrow) and the price of 2933. it may be the local top.
it will affect cryptos as well. because bitcoin and US500 are correlated with the correalation value of 0.8 which indicates a great positive correlation. bitcoin will be in danger.
US30USD Intra Week OutlookWhite Fibo - Draw from High to Low. Following the main recent down trend.
Blue Fibo - Draw from Low to High. Following the recent correction of the down side move.
Market is now consolidating. Will be looking for (1) Break to the upside, taking liquidity, before moving down (as shown in chart). OR (2) Price rejects from 61.8% and goes down. My overall sentiment is still a sell due to US economy fundamental weakness.
USOIL: #stayhome effect Oil prices have dropped more than 50% in March (yearly performance is around-62,1%). Is it the end or are we going to see more downside movement?
Let's assume this is another opportunity for joining bears, based on technical analysis (thoughts) you can see on the chart.
How much lower can the price go? Can it reach the lows of 1999?
My answer is: why not?
Most of developed countries are on quarantine #stayhome and the supply wasn't cut by OPEC.
The major US indices, including DJI, S&P500 and Nasdaq, have fallen in the following order: 35%, 30% and 25%. While different sectors and industries in the US have the following yearly performance so far:
1. Energy minerals sector (931,2B MKT CAP): -58,04%, out of which e.g.:
-Coal Industry: -69,17%
-Oil & Gas production Industry: -62,67%
-Integrated oil Industry: -57,05%
-Oil Refining/Marketing: - 55,7%
2. Industrial Services Sector (515,96B MKT CAP): -36,09%, out of which e.g.:
-Oilfield Services/Equipment Industry: -60,01%
-Oil&Gas Pipelines Industry: -42,93%
3. Process Industries Sector (681,34B MKT CAP):-27,36%, out of which e.g.:
-Pulp&Paper Industry: -50,05%
-Chemicals: Major Diversified Industry: -49,87%
-Agricultural Commodities/Milling: -41,45%
4. Non-Energy Minerals Sector (476,43B MKT CAP): -25,73%, out of which e.g.:
-Steel Industry: -48,32%
-Other Metals/Minerals: -40,16%
-Aluminium: -39,87%
5. Transportation sector (569,48B MKT CAP): -23,84%, out of which e.g.:
-Airlines industy: -49,2%
6. Finance sector (6038,64B MKT CAP): -23,12%, out of which e.g.:
-Life/Health Insurance Industry: -37,69%
-Real Estate Development Industry: -37,64%
-Financial Conglomerates Industry: -34,83%
-Major Banks Industry: -31,13%
7. Consumer Services sector (1481,09B MKT CAP): -21,53%, out of which e.g.:
-Hotels/Resorts/Cruise Lines Industry: -43,78%
-Casinos/Gaming Industry: -34,22%
8. Producer Manufacturing sector (1030,45B MKT CAP): -21,02%, out of which e.g.:
-Auto Parts: OEM Industry: -34.64%
-Metal Fabrication Industry: -33,09%
-Industrial Conglomerates Industry: -31,72%
It's quite interesting when and how these industries will be able to recover, but I am quite sure it's a great opportunity to start analyzing particular companies and building portfolio with these businesses.
This is going to be my next step...
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