Posted by francisq on 24th of Apr 2020 at 02:15 pm
Even if we don't rally further and closes here, SPY is now
closed above 50 dma for the first time since the crash. This 50 dma
line is probably what causes the VIX to closes below 38 for the
first time since the crash.
I thought yesterday was the day when SPY closed above 50 dma.
But the Remdesivir issue put a dent to that. But that news hardly
did much damage to the market yesterday. And no follow through
today.
Of course, if we reverse sharply here. All bets are off.
Posted by francisq on 24th of Apr 2020 at 03:49 pm
There's a fly in the ointment. Some conflicting signals. Well,
do we ever gets an all-clear???
HYG is down today, and not small (0.7%). But i think VIX still
wins out because so many people pay attention to this breakdown and
becomes more bullish.
I would say the $VIX would be a better indicator of overall
market sentiment. A lot of people short or on the sidelines
waiting for the next big drop that might never happen. I am
not a true believe until way stay above the 50 day MA on the SP500
for more than a day. I need a couple of days to prove the
strength of the market.
Posted by francisq on 24th of Apr 2020 at 02:58 pm
Absolutely agree. Need to see follow through on Monday.
But the SPY has an bullish ally today (comapre to last Friday)
with VIX breaks below 38 support for the first time. And the drop
seems impulsive so far. Especially with the negative Remdesivir
news. Seems like market is willing to look past quite a bit
of bad bews.
Seems like what's going on now is more of what we've had though
the whole bull market -- nothing as good for the market as the Fed
and the Treasury adding how many trillions in liquidity? The market
seems to continue to value money printing more than everything else
combined.
The last 4 Friday afternoons
Posted by steve on 24th of Apr 2020 at 01:57 pm
The last 4 Friday afternoons the SPX rallied - will this Friday be similar?
Mentioned this a few hours
Posted by steve on 24th of Apr 2020 at 03:39 pm
Mentioned this a few hours ago
The last 4 Friday afternoons the SPX rallied - will this Friday be similar?
Even if we don't rally
Posted by francisq on 24th of Apr 2020 at 02:15 pm
Even if we don't rally further and closes here, SPY is now closed above 50 dma for the first time since the crash. This 50 dma line is probably what causes the VIX to closes below 38 for the first time since the crash.
I thought yesterday was the day when SPY closed above 50 dma. But the Remdesivir issue put a dent to that. But that news hardly did much damage to the market yesterday. And no follow through today.
Of course, if we reverse sharply here. All bets are off.
https://www.tradingview.com/x/bVovyzM8/
SPY closed above 50 day
Posted by steve on 24th of Apr 2020 at 02:33 pm
SPY closed above 50 day MA last Friday as well - need to see it build above.
There's a fly in the
Posted by francisq on 24th of Apr 2020 at 03:49 pm
There's a fly in the ointment. Some conflicting signals. Well, do we ever gets an all-clear???
HYG is down today, and not small (0.7%). But i think VIX still wins out because so many people pay attention to this breakdown and becomes more bullish.
I would say the $VIX
Posted by ssaffer on 24th of Apr 2020 at 03:52 pm
I would say the $VIX would be a better indicator of overall market sentiment. A lot of people short or on the sidelines waiting for the next big drop that might never happen. I am not a true believe until way stay above the 50 day MA on the SP500 for more than a day. I need a couple of days to prove the strength of the market.
Absolutely agree. Need to see
Posted by francisq on 24th of Apr 2020 at 02:58 pm
Absolutely agree. Need to see follow through on Monday.
But the SPY has an bullish ally today (comapre to last Friday) with VIX breaks below 38 support for the first time. And the drop seems impulsive so far. Especially with the negative Remdesivir news. Seems like market is willing to look past quite a bit of bad bews.
Seems like what's going on
Posted by puma on 24th of Apr 2020 at 03:10 pm
Seems like what's going on now is more of what we've had though the whole bull market -- nothing as good for the market as the Fed and the Treasury adding how many trillions in liquidity? The market seems to continue to value money printing more than everything else combined.
So much newly minted money
Posted by tgo5043 on 24th of Apr 2020 at 03:32 pm
So much newly minted money sloshing in the system . Market likes it.
yep kiss free mkts bye.
Posted by RP on 24th of Apr 2020 at 03:16 pm
yep kiss free mkts bye. goverment run now