A roller coaster ride for the bulls and bears
Last night was fantastic for the indices with SPX500 up 3.15%, slaughtering the bears without batting an eyelid once more.
And now , here we are, retesting the 2nd resistance level at 2960. I am of the opinion this time, it will break out and continue to charge higher.
Positive reasons for going long :
1. Vaccines development in progress
2. Feds - additional 3 trillion package to be released. GDP may dropped but no Depression
3. US-China trade progressing albeit a rocky start
4. Chart - 15 May onwards, the bullish candles have been very strong, riding high up for the last 4 days without any pullback.
5. States are reopening for business and revenue will start to pick up slowly. Do not forget the revenge shoppers, they will give the market a good booster that it needs.
And now , here we are, retesting the 2nd resistance level at 2960. I am of the opinion this time, it will break out and continue to charge higher.
Positive reasons for going long :
1. Vaccines development in progress
2. Feds - additional 3 trillion package to be released. GDP may dropped but no Depression
3. US-China trade progressing albeit a rocky start
4. Chart - 15 May onwards, the bullish candles have been very strong, riding high up for the last 4 days without any pullback.
5. States are reopening for business and revenue will start to pick up slowly. Do not forget the revenge shoppers, they will give the market a good booster that it needs.
Catatan
uh oh......it failed again.
Pernyataan Penyangkalan
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.