Liquid_Quants

Liquid_Quants

So, I don't usually work with Futures, but I think we're going to test that resistance between the orange and yellow slashed lines. We're down right now during the evening (Sunday), but maybe we'll turn it around and head back up. I'm not bullish at all, but I still think the FED actions have helped inflate the market for now. Still think it will head back down.

Liquid_Quants

A long-term chart going into the summer. We'll be heading down that fourth wave despite China's recovery from Covid19. Other countries in Asia still struggling as well as the slow down of many other countries around the world. Today the SHCOMP has been up, but many other markets in Asia are down due to news form U.S.

Liquid_Quants

So, I said SPY would touch the blue line sometime Monday or Tuesday and it did (Tue). It represents the top of the other spikes we've had the last month. Because the economy is still at a stand-still I cannot buy into the idea that we were headed into a bullish wave this week. We'll most likely continue a steady decline, but we'll see.

Liquid_Quants

I thought SPY would bump up today slightly, but not break that blue and white lines. If we can't break through soon, we'll see the trend head back down to the 230's or lower. Maybe even 210.