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An additional small business relief bill could be passed this week, last I heard was roughly $450B. I wonder if powers to be use this as a means to pop mrkt up some??? No clue, keep my head down and watch levels of supports and resistances.....
Coca-Cola says demand in April has been weakened by coronavirus pandemic, volume off 25% so far this month
https://www.cnbc.com/2020/04/21/coca-cola-ko-earnings-q1-2020.html
That's because our local grocery stores have small limits on how much we can buy....only allowed three 2 liter bottles at one time.....I normally buy 20 at a time.....
ES2752...does it hold around here and bounce???
XOM $39.50 area...holding nicely....the low for Exxon Mobil was $29's one day premrkt a month ago on big mrkt drop.....but with all OIL has gone through past 2 weeks, XOM holding nicely....did pop from $29's to $46 area....but has drifted lower recently.....has me thinking about it if we see a crash scenario much lower on ES......I'm always thinking of XOM as last man standing and safest way to play OIL, maybe wrong in that thinking, but whatever, it is my thought.....I figure once every ten years, they get to go through the scrap heap and pick what they want for next to nothing.....
Not trading advice....
ES2755...so we are almost at last weeks support 2750 area.....
ES2760 now....ES2747/2750 is my main focus....below I'm short with a stop above 2755ish....otherwise just watching to see if we break this next or do we bounce first to 2800/2820 area and then go back down and test 2750???
Not trading advice....
UVXY $54.20 area sold rest of what I had left...hoping for ES bounce back to 2800/2820 to re enter....OR below 2747 I'll be back in my short with a tight stop above 2755ish...GREAT PROFITS, made a weeks pay....happy.....
NOT trading advice....
This post still applies for me from last week.....see link back.....
Was a good guess...see link back....
ES2760's...remember last week 2750 was tested few times.....so that support is an impt one....then 2700 area and then several 2660/2600 area.....jmo.....
Not rading advice.....
ES2770's hit and bounce so far.....
Shh shh, don't let that get around, lol.....
ES2825 now....I used to think it would take a month to get down to 2300/1800 area....now I'm thinking one of these days in the next month or so, we'll see a fast dramatic crash like drop to 1800's or even lower, like 700 to 1K point drop in a heartbeat....OIL is sending a message.....I know some think alltime highs on S&P coming, I am not in that camp at all.....I think this is a crash year sadly.....2020 Presidential election with a sitting republican President, look out below (2008).....only said that 100+ times in 2019 about 2020....didn't know what they'd use to create mayhem, but they sure did it and have media to stoke the flames daily.....jmo of course.....We are now in deeeeeeep ^* sadly......
NOT trading advice.....
What a post, was a wise man who made that one!
I said last week...dark red for early this week and sticking with red open for tomorrow????? We shall see.....2780's support? OR 2750 support? OR lower?????
NOT trading advice.....
Have some mrkt short for overnight and a lot of cash.....danger danger Will Robinson.....nothing making any sense, nothing aliging like they should, rather stay on sidelines and just take a shot with some mrkt short.....grabbed more profits earlier again/2nd time today.....but still have plenty left.....
NOT trading advice.....
great day on my mrkt short....BUT sucky day on my oil and stopping out earlier on that lil pop.....no clue what to expect on oil, none.....or ES for that matter, soooooo much manipulation by FED and other parties, algos, computers, etc.....
Someone said R/S on UCO for tomorrow, no clue if true, have not confirmed....stopped out earlier on break of low of day.....main focus for me is my mrkt short.....got back in on 2845 break.....
NOT trading advice.....
ES2829...drop baby drop.....
ES2850/2853 AGAIN....BULL/BEAR fight zone......
Get back to work now.....go ahead, wash hands and space out between people best we can, but get back to work as a country....SHEEEEEESH, damn depression happening here.....WTH.....
Coronavirus will drive 50M people into extreme poverty: World Bank pres http://ow.ly/DFRA30qzfu7
@MorningsMaria @FoxBusiness
Coronavirus will drive 50M people into extreme poverty: World Bank pres https://t.co/TJP9ApmeXa @MorningsMaria @FoxBusiness
— Maria Bartiromo (@MariaBartiromo) April 20, 2020
ES2853/2850 area again...BEARS/BULLS at it again here.....
Virgin Atlantic needs to go under if he can't swing it, jmo.....I care about regular people and small business's most......
Billionaire Richard Branson says he needs a government loan to keep Virgin Atlantic afloat
PUBLISHED MON, APR 20 202011:33 AM EDTUPDATED MOMENTS AGO
https://www.cnbc.com/2020/04/20/richard-branson-says-he-needs-government-loan-for-virgin-atlantic.html
Everything soooo disconnected right now...makes things harder for me.....Big run up on ES since premrkt and yet OIL hasn't climbed at all.....weird.....so I assume when ES breaks down it'll take OIL lower lows?????
WTHDIK......
ES2857.50...Stopped out of remaining short...some was profits, some was at loss.....Bulls won for moment...break below 2845 and I hop back in....or maybe hop back in at last weeks high if retested, not sure, watching now......
Not trading advice.....
ES STILL battling 2850/2853 area......drop sucka...drop please....need Bears to get tough here.....
Not trading advice.....
How can something be called a pandemic when like 150K have died WORLDWIDE????? Gonna have a suicide pandemic, bet we have a texting and driving pandemic of deaths also, heart disease pandemic.....wonder how many have died from regular flu and it gets counted as Corona related death??? I bet if ya jump out of an airplane and your parachute doesn't open, man killed by Corona from 30K feet..... SMH.....
Oil futures contract expiring Tuesday dives more than 40% to under $11 as pandemic ravages demand
https://www.cnbc.com/2020/04/20/oil-markets-us-crude-futures-in-focus-as-coronavirus-dents-demand.html
US oil prices are on track for their worst day ever:Here’s why
https://www.cnbc.com/2020/04/20/coronavirus-us-oil-prices-collapse-as-storage-runs-out.html
ES2850/2853 area...BULLS/BEARS BATTLING....who wins out????
ES2850 area now...neeeds to hold 2853/2850 or otherwise can run to 2900+.....will cut some short loose if it breaks above 2854ish.....and get back in short below 2845ish.....we'll se if resistance holds 2850/2853 area....
NOT trading advice.....
I think S&P will continue lower and what does oil do? Guessing it follows lower???? We'll see.....
OIL...took tiny profits off shares added this am.....won't avg down for a bit, just watching now.....
Still have some OIL from higher up that I'm RED in.....
Not trading advice, think oil might go even lower with S&P....?????
UVXY mid $47's...added my UVXY shares back, sold earlier today.....
dangerous symbol, do not follow.....
NOT trading advice.....
OIL and S&P have me confused bigtime:
A.) Do we see S&P go way lower and take OIL even lower in coming weeks????
OR
B.) Do we see S&P bounce 2780's or 2750's or 2660's and go to a higher high than late last week and take oil zoom zoom higher with it???
OR
C.) Do we see S&P and OIL decouple and go opposite ways????
I don't know.....
Very nice Derek.....good job....$$$$$.....
I'm usually doing quick in and outs....but once we got to 2880's, seemed no brainer to be adding more.....but yes to your question.....we are in unusual times right now....I daytrade and wanted to take a shot.....in any case, sold some UVXY as mentioned earlier, made a days pay and still have some short, as I think we will go lower today tomorrow and get more profits then??? Who knows?????
Not trading advice.....
ES2816..OIL$22.27..NG$1.714..GC$1700..SI$15.39..BTC$6985..DX$100.14..