Category Archives: Member Only

The Unknowables of Covid-19

In the last two weeks, the S&P 500 essentially chopped around the range established after the Fed nuclear option (buying junk bonds) announcement.  Underneath the three indices, there are vastly different performing sectors reflecting the new Covid-19 driven economy and the related stock performance.

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Far From Over

Last Tuesday the market gaped up at open and hit the S&P 500 known resistance level 2750.  Immediately it retreated and produced an intraday sell signal.  The intraday sell signal was confirmed at the close by it closing at the low of the day.  The next day should be followed with a new bearish trend when the Tuesday’s low of the day

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Short Term Trading Range

Last week the S&P 500 and Nasdasq both took out the previous week’s high, but were sold off immediately after the high was made on Tuesday March 31st.  The Dow didn’t even take out the previous week’s high and it closed on the weak side on the weekly chart. This mixed picture points to a sideways to

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Where is the Bottom?

In the last six weeks the S&P 500 cash index has dropped more than 35% measured from high to low.  This has been the fastest decline in the history of the stock market.  The furious decline only put a temporary bottom in last Monday when the Fed announced unlimited QE and the two trillion aid package was signed into law. 

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Forced Liquidation

Never has been such a panic attack in the stock market that has produced such a fast decrease in the stock price.  Everything was sold off to raise cash.  Every single asset class was sold off at whatever price, except the dollar.  The US dollar is the single asset class rallied during the panic selloff.  There is a worldwide shortage of dollar.

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