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Did the bubble pop?

Picking up from our last update with $DJI and $SPX we have now seemingly plunged right into the zone we were interested in. As the situation on the ground surrounding the Corona Virus continues to worsen around the world it seems the USA is gearing up for a possible nationwide quarantine. With this poises great threat to the economic infrastructure as we know it, with the greater majority of ALL retail, travel, & food/drink locking up shop. It is very difficult from a technical standpoint to see we continue to drop without any significant bounce a long the way. Some other important factors surrounding the current situation is the FED is rolling out all the tricks they have up their sleeves by rolling out over a trillion dollars in stimulus money and slashing interest rates to %0. They are also asking the major banks to use their "cash buffers' to aid people in the coming weeks. With all the ammo deployed will it be enough to save the $DJI and the $SPX? Quite frankly I am one to think this will be a rally we all want to fade when it is all said and done. The current situation around the world and in the USA is not caused by a financial crisis. So throwing money into the market won't help the market since it was never the issue that caused this downfall. The issue was the pandemic in which causes a cascading sequence of events that impacted the financial world. By doing this not only are we continuing to weaken the power of the dollar and we are also increasing the size of this bubble we have gone so comfortable floating on. The dept we incur by bailing out these companies that in my opinion don't deserve any help what so ever wont go away. We are using tax payer money to pay for the lack of funds these companies have DUE to them buying back stock over the last decade. If it was not for them being able to essentially PUMP their own stock I feel like an economic collapse would of happened already. With bank buy backs coming to a halt from 8 of the worlds largest banks, companies begging the government and FED for help, and the growing concern of the Corona Virus inland USA I think we may be in for a rude awakening. Now as we turn to the charts for guidance because after all it was the charts that showed us signs of this plunge a year prior as we saw weakness across the board. All that was left was the catalyst in which i thought was going to be the President of the USA getting impeached, well it turns out it was a virus. Looking at the charts and stock market in general many have fallen by more than 40% from the highs of this year. With some stocks retracing all of the price data ever collected. It is pretty daunting to see but I think the temporary bottom is closer than we think. The severity of the situation surrounding Corona Virus should get worse and with that also cause the charts to reflect that. At the peak of severity is when I think a bottom will be found as I personally feel all the money and help the markets/companies will get from the Fed wont help too much if at all. As I stated i truly feel like we get a significant bounce sooner than later but that bounce will be short lived and eventually a fade. My very first idea when i stepped to this chart was that after this correction we were to return to new highs but we broke some levels on the way down and at this point that idea seems far fetched. We can bounce now but to me it makes more sense to retest prior highs before a bounce. That level can be seen in the white shaded area with two hot targets in white. If we do bounce before that I will not complain but as I stated at the end of it all we are looking for a HL on the HTF chart and to fade it to new lows and in my opinion would be the start of a world recession. I would love to be wrong here as this would impact my life in many ways but If im able to see what can possibly be coming in the next few years I will be prepared. If we happen to break back over the GB level i have at $26145 then range above this idea will be flawed and we wont dive into a world recession.


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