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Charts point to a major reversal, with multiple blow-off tops across popular stocks such as $TSLA.
Today's reversal was partially driven by various headlines, with California closing indoor activities likely the dominant one. Chart is for $ES.
Today's reversal was partially driven by various headlines, with California closing indoor activities likely the dominant one. Chart is for $ES.
Earnings season starts tomorrow. Banks' earnings are key, particularly their loan loss provisions. Many people waiting for earnings to be a major bearish catalyst. Of course, it works both ways. So watch out for banks' results closely. https://www.wsj.com/articles/are-banks-afraid-of-covid-19-watch-how-much-they-set-aside-for-loan-losses-this-week-11594566000
Keep the big picture in mind:
major US stimulus package coming up by August 7.
That's the prize. Need to be positioned heavily long for it.
It would be great to get a washout this week and the next to trade long into the end of the month.
major US stimulus package coming up by August 7.
That's the prize. Need to be positioned heavily long for it.
It would be great to get a washout this week and the next to trade long into the end of the month.
