FA
-US economic data for May overall are positive (better than expected)
tradingeconomics.com/calendar
-Beijing is being shut down, including school and travel.
-FED REPO + Treasury purchases remain unchanged.
www.newyorkfed.org/m...-operational-details
www.newyorkfed.org/m...-operational-details
-Positive news for the vaccine.
www.scmp.com/news/ch...ndidate-passes-phase
-Covid-19 cases spiked today
www.worldometers.inf...onavirus/country/us/
TA
-SPX is forming a bull flag, changed the trend from bearish to Bullish.
Notice every time the market is about to form a bear flag, FED steps in and vaccine news appears.
-The first resistance for SPX is 3153. If it breaks above this value. There will be a break-out for long positions, potentially fill the 319 gaps.
-In the final hour of the trading session, SPX closed above 3120.2: Bullish. Also, there was a bear trap during the final minutes of the trading. Short squeezing could be taken place soon.
-SPX is trading above all moving averages in the daily chart: Bullish
-RSI, Squeeze: neutral.
Bottom line: Tomorrow could be a small gap down, then SPX continues the bullish trend. Or SPX breaks out during pre-market and go higher.
-Trading note: I sold my 311, 314 calls at the beginning of the market. Bought some puts when SPY was 314, immediately bail out at 312. Now I'm holding 312.5c 06/19.
Good luck and thank you.
-US economic data for May overall are positive (better than expected)
tradingeconomics.com/calendar
-Beijing is being shut down, including school and travel.
-FED REPO + Treasury purchases remain unchanged.
www.newyorkfed.org/m...-operational-details
www.newyorkfed.org/m...-operational-details
-Positive news for the vaccine.
www.scmp.com/news/ch...ndidate-passes-phase
-Covid-19 cases spiked today
www.worldometers.inf...onavirus/country/us/
TA
-SPX is forming a bull flag, changed the trend from bearish to Bullish.
Notice every time the market is about to form a bear flag, FED steps in and vaccine news appears.
-The first resistance for SPX is 3153. If it breaks above this value. There will be a break-out for long positions, potentially fill the 319 gaps.
-In the final hour of the trading session, SPX closed above 3120.2: Bullish. Also, there was a bear trap during the final minutes of the trading. Short squeezing could be taken place soon.
-SPX is trading above all moving averages in the daily chart: Bullish
-RSI, Squeeze: neutral.
Bottom line: Tomorrow could be a small gap down, then SPX continues the bullish trend. Or SPX breaks out during pre-market and go higher.
-Trading note: I sold my 311, 314 calls at the beginning of the market. Bought some puts when SPY was 314, immediately bail out at 312. Now I'm holding 312.5c 06/19.
Good luck and thank you.