People all over the world love kind and colorful Disney cartoons. What if we say that you can both adore the pictures and trade stocks of the company that creates them?
S&P: what lies ahead?
2020-06-29 • Updated
The S&P is down to 3,000 after a recent high at 3,200. A logical question is: how deep will this drop go?
The answer is: it’s still too early to raise alarm.
First, we have advised previously that the way further upwards at these heights will be more horizontally protracted compared to what it was before, and it may not necessarily fall into a clear bullish trajectory. Sideways intermezzos will take place just like it is now.
Second, even in the previous periods of bullish leaps since the March reversal, there were episodes (B, C) where the S&P did make a lower high and seemed to be bending downwards. On the below chart, you can see that there were at least three episodes where the S&P’s uptrend was crossed by bearish moods and notably trembled. As much as it dropped in the very recent episode A, the S&P did not yet change the uptrend. While the highs of the A1 trendline go lower, the lows of A2 still look upwards. The same was happening most of May: while the B1 curve bends downwards, higher lows of B2 are still in a bullish trajectory.
For this reason, tactically, we are still in an expected sideways-bearish period that did not even yet break out from the previously observed patterns. Let’s watch it closely then and adjust our estimations accordingly. So far, there is a further sideways trembling and an expected upswing ahead.
The e-commerce giant has recently faced a lot of pressure, starting from global uncertainty in China amid lockdowns and geopolitics. The company has been added to the US SEC (Securities and Exchange Commission) delisting queue. Finally, there’s an earnings report coming on August 4. Let’s discuss everything and prepare for the next move.
About the company Inovio Pharmaceuticals Inc (INO) is a biotechnology company that focuses on developing DNA immunotherapies and vaccines to treat and prevent various cancers and infectious diseases…
For those who may be unfamiliar with Price Action trading, the horizontal arrows represent areas where the market structure was broken. As you can see in the scenario above, price broke below the previous low at the two marked instances
Let's start off with a look at the Daily timeframe on Bitcoin. We currently see price reacting to the rally-base-rally demand zone between the 15,600 - 14,300 price area. Price also seems to have found support off the trendline support as marked in the image above. Interestingly, this means the overall bias on BTCUSD is Bullish.
Central Bank Digital Currencies (CBDCs) are virtual national money. The idea of creating such currencies came to the authorities after the success of cryptocurrencies, which also exist only in digital form.