Weakness continues in Globex session.
Will the lower end of the range hold @ SPX 2830?
Posted 22 May 2019 - 08:50 PM
Weakness continues in Globex session.
Will the lower end of the range hold @ SPX 2830?
Posted 22 May 2019 - 08:52 PM
Ironically, all that needs to happen for the trade war to end is for the S&P to drop back to 2,300... but market won't let that happen as it is convinced Fed or Trump put will kick in first.
Posted 22 May 2019 - 08:56 PM
SPX back below 50ma
$SPX has just spent 4 straight days closing below the 50d moving average after spending at least 1 day closing above it for the first time since: Dec 10, 2018
Two weeks later, the index was down -11.0%.
This is meaningless, small sample crap.
Posted 23 May 2019 - 05:10 AM
Tried to, then dropped a few more points, but this SPX 2820/30 zone is strong support
But, who cares about SPX when the real action is in NQ, Crude, and GBP
...and TESLA .... that may now be a downward spiral to $10 per share
Posted 23 May 2019 - 06:17 AM
Retailpocalypse is Schumpeter‘s creative destruction in one chart. Stocks of department stores in free fall again. (Chart via BBG)
Posted 23 May 2019 - 06:18 AM
Trade war sparks fears of #China weaponising US Treasuries. Recent $20bn sale of US debt could not be explained by typical ebb and flow of Beijing’s holdings. If China starts dumping its Treasuries, it would cause huge financial instability. https://www.ft.com/content/28277e4a-7c08-11e9-81d2-f785092ab560 …
Posted 23 May 2019 - 06:21 AM
It's now a Trade War but not full-blown, only skirmishes, so far. I expect significant steps taken soon to ratchet it DOWN.... beware, bears, be on alert for
sudden moves UP !
#China’s Commerce Ministry:
#US needs to correct wrong actions if it wants to continue talks; talks should be based on mutual respect; US escalated trade frictions greatly, increased chances of global recession; Beijing will take measuresa to safeguard Chinese firms’ interests.
Posted 23 May 2019 - 06:55 AM
I have not added to any shorts..... SPX has to close below 2830 to convince me it will trade with a 2700 handle during the next few days
Doug has been on a roll ...
Added to my large ($SPY) and ($QQQ) shorts just now at $286.33 and $181.77, respectively. I just made some small short covers in premarket trading and have moved from very large to large in SPY and QQQ at $283.30 and $178.93, respectively. @jimcramer @tomkeene @SquawkCNBC
Posted 23 May 2019 - 06:58 AM
I don't base trades on momentary rate inversions but this does attract lots of attention:
Treasury yield curve has fallen significantly since Nov-18 and has inverted again. Historically it has been a leading indicator of a recession, the big question is when though. #TreasuryYield #FedFundsRate