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Disconnect,should be another name for it.Your description of insane suits it perfectly!!!!.
I can see that you have your finger on the pulse of the market.I see no reason for getting involved in this market,as if it was tanking,they would have pointed to the out of control virus infections in America.
As we know,the stock market doesn't follow the news.The news follows after the market has moved up or down.
Have i seen you on any Share chat sites on here?.
June 8th was still the last high as it stands at the moment.The Index is just hanging around waiting to see how we all fair coming out of lockdown.
It seems a two way bet.If the second wave takes hold and we have to go back to lockdown,the market will fall.If things progressively get better the market may go back up.
They could tell all vulnerable people to stay at home and isolate,and let everybody else take their chances.
Between the devil and the deep blue sea.I'd sit on my hands at the moment,and wait.
I posted on May 28th that markets would start to fall on the following Monday the 1st of June.The high at the moment seems ( if it doesn't go above it),to be on the 8th,last Monday.As it stands I was a week out.
A 1800 fall on the Dow today is massive.Difficult to see how this is not the start of the fall.It will take quite a bit of volatility to go back up and above last Monday's high.We shall see.
It's called the " disconnect",why it's not reacting has got investors stumped.Let's leave it a while to settle down.Wouldn't buy anything at the moment,and I don't care if it goes up a bit more.
They can stick it,not investing a dime in these uncertain times.
Looks as if everyones looking at each other to see who will blink first.Market seems to be looking for direction.
Drifting sideways,You'd think with all the trouble going on in USA it would fall.Perhaps they are burning off all the shorters,before the big boys step in for real ?,and really sink it.
Yes very interesting.I see you are doing it in fine detail.They are desperately trying to restart the economy and disregard the R number.Large chart says resistance here,and needs to punch on up to go up higher.
But I cannot see how it can't go down.A lot of commentators talk of a disconnect between the stock market and the real world.Personally if it was the start of a new Bull market,it would make a joke of the upcoming recession (ridiculously hard for it not to actually happen),and possible further problems.When you look at the USA unemployment rate,up from 3% to 14..7%,its hard to see how carnage can not be avoided.
Getting back to your original point,everything Technical Analysis wise points to a fall.If it doesn't you would have to conclude that the stock market was totally disconnected to everything!!!.
In the last tumble,gold sold off, reasons given were a cash raising exercise,and the possible difficulty with the mines as to getting it out of the ground if the workers got sick.That has happened in South America,with varying reports from other countries as to workers being ill.Difficult ,as distancing being very difficult in a small area working at the bottom!.
So it's a very confusing picture.
I saw Bond appraiser on CNBC,saying that he found it strange that some US government Bonds were being snapped up,even though the return was nil!!!,paid nothing.Very odd.
I'm not into Bonds and know little about them.But observers report that they are "mystified" as what's happening.
Many investors also find the share market rally strange,as nothing much as changed.The rally though has been purely technical,given a boost as well by the stimulus.
If the Markets start to fall late on after Trumps intended speech on China,they will cite his speech as a reason for the fall.
As we know,"the news follows the Stock Market,the Stock Market doesn't follow the news".
So plenty of reasons if they look ,to rationalise a fall.I wonder what Trump is going to say?.He could even declare war on China,well actually that would be a joke.But knowing Trump,anythings possible!!!.Surely he won't do a foot in mouth moment again will he?.Surely not?,i mean...…...
All technical indicators show that as from Monday,all indicies will start to fall. The start of the really big down move.
All technical Analysis points to it.Even at this late moment in time, share prices have spiked,leading to a trap.
The Dow suddenly went into reverse tonight and patently didn't want to go much above 25500,same with the S&P 3030,circa 6200 on Footsie.
(see my calculations on the Centrica chat site).
Get ready for a very bumpy ride!!!.As usual it's an opinion based on Charts etc,open to be wrong as well as right.
We shall see.