The stimulus bill has been passed and loans will begin to be allocated into the economy. The goal of this money is to keep business alive, but there are no clear guidelines on how this stimulus will be rolled out.
After the current bounce (my assumption), the sellers are back. Prior to the corona virus, the Russell was already showing signs of weakness.
As the virus continues to spread, my view is that the stimulus won't do much until businesses are able to open back up.
After the current bounce (my assumption), the sellers are back. Prior to the corona virus, the Russell was already showing signs of weakness.
As the virus continues to spread, my view is that the stimulus won't do much until businesses are able to open back up.
Comment:
Short is working well so far. Zooming in on the 1hr and 4hr charts, the trend is shifting brearish.