So for sometime at Trading Group 101 we have been discussing and looking to work out the next move in the stock market during COVID-19.
To do this successfully you need to look beyond the initial stock charts of the major indices and view the whole financial world. So with this in mind I am sharing some charts that not many people likely view (or even know...
And so it has begun, The smoke is starting to clear and the real value is appearing in the background. I see it dropping further to 1900/1800 before levelling out into a range bound market. Lets see...
Right - so you wanna make money in these markets. All I can say is that these are dangerous times. This is certainly not ' The Big Short' any longer. I call it the big fudge. Now we're not allowed to say who exactly is doing the big fudge - cuz it'll probably break a whole bunch of laws and policies. But it's not illegal or wrong to point to a big fudge. Like it...
- Bearish 200SMA & 200EMA crossover.
- Ichimoku Cloud will reinforce the double MA resistance.
- Closed below previous support zone.
- Price action bearish MA crossover
- Bearish MACD
- In oversold range even with high buy volume
- Trending down and people panicking
- Take profit at FibE levels