Read? STI : Anyone still thinking it is dead cat bounce??? (2)
Zoom in and looking for clues of DCBs in CONVID-19 vs GFC
The economy is dying but is the Cat dead yet?
Look like the cat is still struggling to live. Not dead yet?
Look closely at GFC, can you spot those DCBs?
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Hmm I zoomed in real close but all I saw was a pixel...
ReplyDeleteLol! Just count the number of resistance & support lines that STI can either hold above or break below to estimate probability of DCB or rally or ranging. Correct, Uncle8888? Kekeke!
I prefer to zoom out & see the big picture, like imagining the chart plastered across my living room wall. But that's probably becoz I tend to go for sector/ country/ regional ETFs rather than individual stocks. :P
Pump and dump?
ReplyDeleteDow jumps 700 points on hope for a coronavirus treatment, closes at highest level since March
Stocks surged on Friday after a report said a Gilead Sciences drug showed some effectiveness in treating the coronavirus, giving investors some hope there could be a treatment solution that helps the country reopen faster from the widespread shutdowns that have plunged the economy into a recession.
The Dow Jones Industrial Average rallied 704.81 points, or 3%, to 24,242.49. It was the Dow’s first close above 24,000 since March 10. The S&P 500 closed 2.7% higher, at 2,874.56 while the Nasdaq Composite advanced 1.4% to 8,650.14. (Click here for the latest market news.)
Boeing shares jumped 14.7% after the airplane maker said it would resume production in the Seattle area as early as April 20. The company also said Friday it would resume operations in the Philadelphia area.
“It’s far too early to signal the all clear, but what this demonstrates is that coronavirus is a health problem that requires a health solution,” said Michael Arone, chief investment strategist at State Street Global Advisors, about the prospects of a coronavirus treatment. “If we can develop a health solution, I think at least from a market perspective, things will rebound pretty quickly.”