ridethepig | SHCOMP Market Commentary 2020.08.26
📌 A quiet few weeks and enjoying the last few days of summer before things get very active in markets for the rest of the year and into 2021.
Global Equity buyers received their reward for their braveness play: overshoots are a weakness.
See diagram below.
The mysterious 2650 lows were held from the Giant Panda (PBOC), when retail threatened the attack down to make the recovery difficult the monetary side played the defence. At the same time, it also makes the inevitable far worse as the energy needed to get back to 2750/2650 is minimal. The book is very thin.
Buyers have made good use of the swing higher, ignoring Covid cases and deaths and totally looking through US/China protectionism. Sellers have played the waiting game and distributed on the test of resistance 3400/3350:
Prepare for a parry away as the ever present threat of covid approaches and puts further lockdown threats in play. The risk of a full blown monetary crisis has put Equities under permanent threat as the weakness comes from confidence. If consumers are not confident enough to return, or will question if clients are even able to meet, then it will not matter the amount of stimulus as the issue is far bigger than central banks.
A strong move here would be to push the tempo and threaten the immediate breakdown. Live portfolio flows and chart updates resuming as 'normal' from Jackson tomorrow.
As usual thanks for keeping the feedback coming 👍 or 👎
Global Equity buyers received their reward for their braveness play: overshoots are a weakness.
See diagram below.
The mysterious 2650 lows were held from the Giant Panda (PBOC), when retail threatened the attack down to make the recovery difficult the monetary side played the defence. At the same time, it also makes the inevitable far worse as the energy needed to get back to 2750/2650 is minimal. The book is very thin.
Buyers have made good use of the swing higher, ignoring Covid cases and deaths and totally looking through US/China protectionism. Sellers have played the waiting game and distributed on the test of resistance 3400/3350:
Prepare for a parry away as the ever present threat of covid approaches and puts further lockdown threats in play. The risk of a full blown monetary crisis has put Equities under permanent threat as the weakness comes from confidence. If consumers are not confident enough to return, or will question if clients are even able to meet, then it will not matter the amount of stimulus as the issue is far bigger than central banks.
A strong move here would be to push the tempo and threaten the immediate breakdown. Live portfolio flows and chart updates resuming as 'normal' from Jackson tomorrow.
As usual thanks for keeping the feedback coming 👍 or 👎
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