Coronavirus Stock Market buy off.

[Ricboff]

gl wildcats and thks for sharing. Its weekly chart looks real good, possible bobble break out on the daily . Its above the 8ema, real good but its 50 sma was rejected today (the day is young), if it can break that , she can run! IF its candle ends the day as is, a spinning top AND rejected by its 50 sma, well tomorrow would be a big day-- opens positve and a possible bullish doji sandwich whcih would imply it breaks the 50 sma.

news?

SLV posted earlier this week;


'note that SLV GAPPED up to start the new week , on the weekly #1178. The metals follow tech very well, gaps on weeklys have a high probabilty of getting filled then reversing back up. (check the SLV weekly chart for the last 5 yrs, not alot of gaps present lol). So , if it pulls back , good entry once gap is filled and on a bullish candle. The chart is bullish'

--came back to fill the gap real quick, lol.

 

[Ricboff]

FB beats

AMZN is a MASSIVE beat on earnings

 

[snoop]

You can't go wrong with SP-5. I'm still adding on any dip for 20 more yrs.

 

[Ricboff]

4 for 4!!!!


qqq's up over 1% in AF...gap up tomorrow ....

 

[Ricboff]

haha snoop, pretty incredible.....fuckin' incredible run. There certainly wasn'tt a lot of optimism when the sky was falling a few mths back


German GDP number today - atrocious
USA GDP numbers today - atrocious

yet 4 of the big 5 go 4 for 4.


-Gross domestic product, the official scorecard of the economy, shrank by an inflation-adjusted 32.9% annualized pace from April through June, the government said Thursday. That’s three times larger than the previous record decline in 1958.
-Federal spending leaped by more than 17% and an even higher 40% outside the military.
-As result, disposable incomes actually soared@) in the second quarter even as the coronavirus pandemic triggered a record collapse in the economy. Incomes shot up at an annualized rate of 45%. That helped financially struggling Americans to pay the rent, buy groceries and make other needed purchases.

-Even all the federal help, however, could not prevent a record decline in consumer spending. Outlays sank at a nearly 35% annualized clip.



“The only way you have personal income rising in a collapsing economy is if you turn to a massive welfare economy.” said Joel Naroff of Naroff Economic Advisors.

 

[brendanjack]

haha snoop, pretty incredible.....fuckin' incredible run. There certainly wasn'tt a lot of optimism when the sky was falling a few mths back


German GDP number today - atrocious
USA GDP numbers today - atrocious

yet 4 of the big 5 go 4 for 4.


-Gross domestic product, the official scorecard of the economy, shrank by an inflation-adjusted 32.9% annualized pace from April through June, the government said Thursday. That’s three times larger than the previous record decline in 1958.
-Federal spending leaped by more than 17% and an even higher 40% outside the military.
-As result, disposable incomes actually soared@) in the second quarter even as the coronavirus pandemic triggered a record collapse in the economy. Incomes shot up at an annualized rate of 45%. That helped financially struggling Americans to pay the rent, buy groceries and make other needed purchases.

-Even all the federal help, however, could not prevent a record decline in consumer spending. Outlays sank at a nearly 35% annualized clip.



“The only way you have personal income rising in a collapsing economy is if you turn to a massive welfare economy.” said Joel Naroff of Naroff Economic Advisors.

You ain’t kidding soon people will be fighting over road kill

 

[Ricboff]

lol


ES:

a break of 3261-3263 and headed to test the top of the box likely 3284

top of the box: 3284
bottom of the box : 3191

two kinda less important numbers - 3261ish and 3222 ; kinda the middle of the box , bounces can occur but if broken/pierced risk of headed to 3284 or 3191


a heads up:

AAPL on a 1 yr regression channel is in outlier territory, past 2-standard deviations from normal price action. So, either a new normal is occuring OR it will revert to the mean . AAPL when in this territory in the past has reverted , this doesnt mean it does it this time

 

[Ricboff]

wildcats, its looking good...


XSPA

6 mth daily, 50 SMA

'IF its candle ends the day as is, a spinning top AND rejected by its 50 sma, well tomorrow would be a big day-- opens positve and a possible bullish doji sandwich whcih would imply it breaks the 50 sma.'

it DOT NOT open positve, however, it formed a bullish engulfing pattern-carried by the strength of the market. Vol lowER AND REJECTED by its 50 sma----three bounces off it down over the last 7 days. Friday was a good day up pver 5 %, but again..needs to break the 50 sma...


DIA (the DOW)

6 mth daily, 50 sma

certain candle anatomies carry preditive value for a swing low. One of them is a hammer; small body, long tail. If the body is green even better. We have multiple factors pointing to a possible swing low here, confluence;
-not one , but TWO green hammer patterns. At about 2:30pm the candle was a long red candle, then the buyibg started and never relented
- HIGHER volume (bottom histogram )
- BOUNCED OFF ITS 50 sma , the 50 sma is acting as support

probability is favoring a positve week coming, at least the first part of the week (the anatomy of the candle was visible at 3:55 pm yesterday)

 

[Ricboff]

Xspa get it now.....

w-thumbs!^

 

[Ricboff]

certain candle anatomies carry preditive value for a swing low. One of them is a hammer; small body, long tail. If the body is green even better. We have multiple factors pointing to a possible swing low here, confluence;
-not one , but TWO green hammer patterns. At about 2:30pm the candle was a long red candle, then the buyibg started and never relented
- HIGHER volume (bottom histogram )
- BOUNCED OFF ITS 50 sma , the 50 sma is acting as support

probability is favoring a positve week coming, at least the first part of the week (the anatomy of the candle was visible at 3:55 pm yesterday)

............

:toast:

 

[Ricboff]

the USD, on a regression channel dating back to 2009 is now two-standard deviations ON THE LOW SIDE , from normal price action. Spanning this period when it has gotten to this level it has reverting to the mean, that is the USD strengthens.. SO-- the USD is clearly in outlier territory. Either ; a) it reverts to the mean
OR b) a new normal is occurring

its decision will have significant impact on the markets and commodities (the metals and OIL)...natty gas is a runner


new fuel may be available for the markets when the nutters in congress agree to keep 'The Welfare Economy' going (got to believe its extended to at least the end of the yr)

 

[Ricboff]

Entry was with surgical precision ,am grateful .did not expect this rapid a move. Took profits (dia), note today's is not a sell candle,above the 8 ema

 

[TheFalls]

sold half of all equity positions today...off set a tiny fraction of the STGs in tech/healthcare with a decent sized loss on Macquairie infrastructure and small kimball electronics. still going to hold the metals and tips for a long time.
cut alot of cloud and AI etf positions today as well...

 

[Ricboff]

Alert :

Small caps getting loving , at its June 9th ceiling .it has to make a call - break or re-treat
Iwm

 

[TheFalls]

Alert :

Small caps getting loving , at its June 9th ceiling .it has to make a call - break or re-treat
Iwm

I work on a sc value team...we had our worst relative day in 30 year history...lost over 100 bps. a few days like that can kill your year.

 

[Ricboff]

Sorry to hear, keep your head up .

Market is disjointed from reality (as others have noted including urself), twilight zone shit

 

[seldomseen]

Any opinions on RKT?

 

[Ricboff]

Checked the chart, but it has none ,lol .great IPO day !

 

[Ricboff]

Stone cold massive dark pool print went off on WFC : 9,000,000 shares at $24.20

Could get a splash , then its decisive move

 

[Ricboff]

the USD, on a regression channel dating back to 2009 is now two-standard deviations ON THE LOW SIDE , from normal price action. Spanning this period when it has gotten to this level it has reverting to the mean, that is the USD strengthens.. SO-- the USD is clearly in outlier territory. Either ; a) it reverts to the mean
OR b) a new normal is occurring

its decision will have significant impact on the markets and commodities (the metals and OIL)...natty gas is a runner


new fuel may be available for the markets when the nutters in congress agree to keep 'The Welfare Economy' going (got to believe its extended to at least the end of the yr)

UUP

6 mth daily, 8 ema