RE: Think she is going to drop today12 Jun 2020 15:03
Baz. Don't get sucked in to the macro. See the wider picture? Just a suggestion 24th may well be a bad day like yesterday ?
"Indeed, the International Monetary Fund’s Gita Gopinath said that the global economy is recovering more slowly than expected and faces “significant scarring”, Bloomberg News reported. In a video released Friday but recorded June 4, Gopinath said the IMF will release updated growth projections on June 24 that will likely be worse than April projections for a global contraction of 3%, if the disease lingers.
Fears of an emerging second wave of epidemic in the U.S. persist, with Reuters reporting that half a dozen states, including Texas and Arizona, are facing rising infections of COVID-19. Arizona, Utah and New Mexico all posted rises in new cases of 40% or higher, while Florida, Arkansas, South Carolina and North Carolina saw cases rise by more than 30% for the week ended June 7, on a rolling seven-day basis, according to Reuters.
Some analysts characterize the prospective rebound Friday from Thursday’s slump as unlikely to be sustainable.
Naeem Aslam, chief market analyst said that it “is normal to experience some bounce next day.”
https://www.marketwatch.com/story/dow-futures-surge-nearly-600-points-friday-as-stock-market-attempts-to-rebound-from-worst-day-since-mid-march-2020-06-12