Trade Alert: Buy “Power”
Trade Alert: Buy “Power”
Welcome everyone to Yellow Tunnel, an aggressive short-term trading service dedicated to those seeking to leverage artificial intelligence, decades of trading experience and a glowing track record to back up our claims that we can deliver strong and consistent performance.
Our team is fully committed to improving members’ trading strategies, trading psychology, trading awareness and trading skills that generate short-term actionable trading strategies, resulting in a high percentage of steady profits .
CURRENT TRADING LANDSCAPE
As I biked through the quiet streets of my neighborhood and reflected on the emptiness of the streets, usually filled with school buses, kids on their bikes and caregivers pushing the strollers, I was overwhelmed with sadness. Moments later, sitting in my office and listening to accounts from Europe, of people not being able to even walk outside without permission slips, I suddenly felt blessed that I was able to bike to work today.
My middle schooler has a poster in her room, which says: "Life is not about waiting for the storm to pass, but learning how to dance in the rain," which my wife must have hung at some point, probably five years ago, and I just noticed tonight. How appropriate and timely that in the flood of negativity and sadness, you too are able to find some positivity in today's storm.
The markets were able to hold on to their gains after the disappointing unemployment stats and the news in regards to the decrease in the future oil supply numbers. Momentum behind the bulls is deteriorating and the markets are due for a pullback. The energy sector led late last week after President Trump initiated a dialogue with Russian President Vladimir Putin renegotiate a cut in oil production with Saudi Arabia.
My opinion has not changed. SPY was able to close above the key $230-240 level, which is December 2018 low. "BUY" signal based on the Aggressive Power Trader Portfolio for tomorrow is at $240 level using SPY and "SELL" signal is at $262 for short term traders. Markets are susceptible to retest the recent lows in the next 2-10 days.
Next 2 weeks will be crucial in terms of leveling off the number of new coronavirus cases, and confirming the bottom on SPY.
Please review Aggressive Power Trader Portfolio. Monthly predictions have been updated. SPY shows average price for May $264 and July $287. The model confirms the most optimistic scenario of "U" shape recovery as long as we can break through the $280 level by June-July.
I expect the market volatility and the five percent daily market moves to persist. At this point, I do believe we have set the bottom (market can overshoot support and resistance levels especially when VIX is high). I believe the worst part of the sell off is behind us. Please monitor VIX level as current levels are above historical average. As long as VIX at $40-70 level market can retest the recent lows. My strategy is to aggressively buy any market sell offs (10-15%).