Trading with point and figure

Dentalfloss · Mar 25, 2020

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Dentalfloss · Mar 25, 2020

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Dentalfloss · Mar 25, 2020

Dentalfloss · Mar 25, 2020

Dentalfloss · Mar 25, 2020

Dentalfloss · Mar 25, 2020

This chart seems to have the right feel about it
It could be w rong....lol

Dentalfloss · Mar 25, 2020

Dentalfloss · Mar 25, 2020

10K psycho level..??

Dentalfloss · Mar 25, 2020

Dentalfloss · Mar 25, 2020

Dentalfloss · Mar 25, 2020

Dentalfloss · Mar 25, 2020

Good Morning: The Long & the Short of it and The Bigger Picture - 25 March 2020 - ADM ISI

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Ostwald, Marc

08:37 (26 minutes ago)

to Marc

- Surveys, govt fiscal and legislative measures and cen. bank interventions
still in focus, quarter end flows also in view

- Very typical vicious 'bear squeeze' does not remove any of the array of
uncertainties

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** EVENTS PREVIEW **
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A busier day for statistics, but outside of March surveys (final ifo), items such as the gamut of UK inflation indicators (published early) and likely US Durable Goods Orders are likely to be ignored, though downside 'misses' will doubtless only add to the understandable gloom on the global economic outlook. Somewhat belatedly, markets yesterday took on board the Fed's latest QE infinity and corporate bond buying programmes, as well as the passage of the Covid-19 bill in US Congress, prompting a classic vicious bear market squeeze, above all in equity indices and to some extent in credit. However there are a number of points to bear in mind: a) yesterday saw the first wave of ratings downgrades and there are plenty more 'fallen angels' which may cross from investment grade to 'junk'; b) there remains no visibility about when the peak in the spread of the virus in Europe, North America or indeed elsewhere will be reached; c) flows remains key, and an array of anecdotal evidence which points to funds being unable to either roll over more complex derivative hedges, or struggling to meet margin calls on existing hedges, and e) as note yesterday, flows out of funds are unlikely to suddenly stop, even if some of that pressure may ease, though a far sharper reduction in volatility for a sustained period would be required. Quarter end considerations also advise against over-extrapolating any recovery in 'risk' assets, given a huge reweighting requirement for balanced funds to buy equities.