SPX 2020-May-20

SPX gap yesterday demonstrates just how desperate the market is for good news. It also shows that the sentiment is probably in favor of the bulls right now; with investors figuratively banking on central banks bail outs propping up any long term sustainability issues. In my opinion, this is insane thought processing, as we see more and more governments shifting their ways of measuring economic health in order to keep positive numbers coming through...

April - June GDP figures will be horrific; probably worse than what the average investor is factoring in. Add to that a market that was already overextended and many companies with huge valuations above their profitability; and one must step back and ask if this is really the beginning of the recovery or whether it's the turning point continuing.

For now, 3k remains resistant.