Tag Archives: weekly cycle

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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Oil Price War Is Worse Than The Coronavirus

Over the weekend, Saudi Arabia engaged in the biggest oil price war with Russia that caused the oil price to drop more than 30% overnight.  The futures market has responded with the DOW dropping more than 1000 points.  If the market opens below the low of February tomorrow, the stock market selloff will intensify.

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Distribution Is In Progress

Since the January low, the market rallied as if the coronavius is nothing to be concerned about even with the ever increasing number of deaths and infected patients in China.  Finally Apple came out warned the virus impacting the supply chain and sales in China.  The reaction to Apple’s warning was muted, only 

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SP 500 Cash Index Cycle Location 02142020

What Coronavirus that virtually has shut down the entire second largest economy in the world?  It didn’t matter, the market has gone off the rails.  It seems that there is nothing right now to stop the rally.  The rest of the world is on life support, the US mega cap tech growth companies offer rare opportunities that provide growth and stability.

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Possible Double Top in Play

After the S&P 500 hit 50-day moving average support, it staged an impressive rally to wipe out the entire loss from the coronavirus selloff.  All three indices made new highs last week.  It appeared to be that the market is discounting the long lasting economic impact from the fast spreading virus. 

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