PIVOTAL DAY for MARKET - defend SPX 2360 or decline resumes

Chief - 

you are a Moon guy ..... what say yea ?????

Naw, I think the rally has legs for a possible top near 2800 on April 1st (+or -) and a huge 1000 point crash to 1800 for final bottom.   I hope I’m wrong, I really do.  Like everyone I want this to end and end quickly, that the Summer hear abates the virus, retailers reopen, malls reopen, that businesses hire their workers back and we can all have a great Summer and live in complete harmony.

 And the market moves on to new all time highs into the Fall. Is this realistic?  

Started accumulating SPY JUNE PUTS

Initial buy: 4 deep in the money

will add at higher levels

Naw, I think the rally has legs for a possible top near 2800 on April 1st (+or -) and a huge 1000 point crash to 1800 for final bottom.   I hope I’m wrong, I really do.  Like everyone I want this to end and end quickly, that the Summer hear abates the virus, retailers reopen, malls reopen, that businesses hire their workers back and we can all have a great Summer and live in complete harmony.

 And the market moves on to new all time highs into the Fall. Is this realistic?  

looking for SPX 2700 around 38.1 retracement

ramp up end of month & Q1 

some speak of allocation from bonds to stocks

So show of hands...who ever expected to see these 2 headlines side by side:

A record 3.3 Million Americans file for Unemployment in today's report.

AND

Dow Jones 30 Industrials up 900.

Crazy times!

Dow struggling here at 22K base camp.

Unless it can take out 22,200 pretty soon, and get into the air gap zone up to about 23,700, then likely this stalls out here pretty soon, and we head back down into early April.

But....VIX suggesting possibility of breakout over 22,200 though, as it looks to be making bear flag under the key 61 level...

If it starts to break down here imminently, then bulls may be about get a 2nd wind here today...

over 150% ramp in RCL to almost 50....that might just about do it for now...

3 min SOX starting to look tired...

IF it starts to pull away from 1540 downside, double top could be sealed in...

Edited by K Wave, 26 March 2020 - 11:11 AM.

Dow managed to hold 22,200 on the back test....

have to break that before any rollover gets under way...