SPX (05/13/2020) - Filling gaps ( bearish)

2020년 5월 13일

FA
-Retails like JC Penny, Macy,.. are having a bad time financially (JC Penny will file for bankruptcy this Friday). This leads to damage in commercial rental, REIT sector.
-FED is starting to buy corporate bonds ETFs (Junk bonds).
-FED schedules :
newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/treasury-securities/treasury-securities-operational-details
newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/repo-reverse-repo-agreements/repurchase-agreement-operational-details
-The market wants negative rates. However, FED won't allow it (good choice). Reason why negative rates is a bad move:
youtube.com/watch?v=vOSAxIBrKiE
-Fauci warns about Covid-19 vaccine delay + 2nd wave
nbcnews.com/health/health-news/live-blog/2020-05-12-coronavirus-news-n1204961
-The House is getting ready for 2nd stimulus (3 trillion dollar)
cnbc.com/2020/05/12/coronavirus-updates-house-democrats-unveil-3-trillion-relief-bill.html
-Recession to Depression?
cnbc.com/2020/05/12/jim-cramer-the-us-is-running-out-of-time-to-stave-off-a-depression.html
-More earnings ahead
finance.yahoo.com/calendar/earnings/
-UK central bank keep rates at 0%.

TA
- There are three gaps needed to be filled at 2860, 2840, 2740( Red lines). If the trend becomes bearish, we will expect to see drops following by small bounces as soon as the gaps are filled accordingly.
- Squeeze indicator is signaling a large volume drop: Bearish
- RSI: higher-low, red line at 50%: bearish
- SPX is trading below moving average: bearish
- Target without artificial pumps: 9080 or less.
- Volume: high
- Bottom line: bearish trend.

Good luck and have fun

2020년 5월 13일

노트

Target price for SPX 2820 EOD