Matters Sino seemingly of secondary import to FOMC machinations & concerns over US Debt Limits whilst Graduate Unemployment @ unheard levels in the Middle Kingdom & Three Arrows Policy initiatives as effective as blowing into a gathering storm.
JD.com Stock Price would appear to be one of the better markers on how matters look deep down the Coal Mine of the Chinese Economy?
S&P500 Daily Chart Monday May 2: Short- Term' RESPITE in order?
Points to Note:
~ New YTD Lows amid an Indecisive Daily Candle Chart
~ ADX/DMI is STILL in Trend-Mode.....Down....respect this.
~ RSI showing Minor Positive Divergences, a Good S/T Sign
Bottom- Line: Short- Term respite certainly doable with a likely Target circa the previous High & 38% retrace of losses since March's Counter- Rally to 2136 @ 1960 (a Good Year!).
Weekly Chart will Signal whether this is more than a 'Disposable Pleasure' for the Alpha Aggressive Tactical Types OR potentially a more 'Meaningful Pursuit' for the Portfolio Managers of the shadowy Beta Hugging pensive prognosticators........😐
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| NDX100 Daily Chart @ Close Friday 08/28/20 |
The 2020 Record Setting NDX100 continues to defy ALL; skeptics, pontificators, prognosticators & assorted experts.
The Price is ALWAYS right as IT determines the P/L & NOT 'opinions'; so UNTIL a Clear Signal on BOTH a Daily & Weekly Basis is witnessed, best we all sit back & either enjoy the ride OR keep quiet. That said and Short- Term pauses/ pullbacks will occur amid the Trend.
