NDX (05/08/2020) - Fundamental measurements are being crushed.

2020年5月8日

FA
-FED is going to pump 500 billion (part of the repo plan) as a short-term note tomorrow. Also, FED is going to buy 8 billion worth of Treasury note.
newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/repo-reverse-repo-agreements/repurchase-agreement-operational-details
newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/treasury-securities/treasury-securities-operational-details
-Job data will be released tomorrow. Approximately, 20 million job losses will be reported.
-More trading data here:
tradingeconomics.com/calendar
-The UK keeps rates at 0%.
-Plunge Protection Team is manipulating the market, they are trying to buy future contracts, especially best 500 performers in SPX and NASDAQ. More information about PPT here
investopedia.com/terms/p/plunge-protection-team.asp
-Meat processing plants will cause a shortage of meat supply in the near future. Scarcity will push the price higher.
-Zombie corporations are on the way, starting with WeWork.
-Most of Tech companies are still on speculative buying. Gain 1%-15% respectively during market hours. P/E ratio is showing a bubble (extreme overvalue).

TA
Short squeeze will continue and keep the market bullish.
RSI is having higher-low: bullish.
NDX is still being rejected from a long-term bullish trend. Temporary rally below the trend as the result, expecting correction during market hours.
Volume is getting lower during this phase.
Target: 9150
Day low: 9000
Bottom line: I will sell my long positions tomorrow. Waiting for a reversal for more short positions.

Good luck and Thank you.