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Bullish factors:
FED will keep 0% - 0.25% interest rate until Covid-19 is over.
Fake news GILD made a strong bullish trend. It hasn't been completed and verified.
clinicaltrials....ord/NCT04292899?cond=covid...
Actual result: www.marketwatch.com/...-covid-19-2020-04-29
FAANG earnings pushed the market further up with Microsoft heated expectations, Facebook has more revenue.
TSLA will be bullish due to strong earnings and FOMO
AMZN earnings will beat expectations tomorrow.
This could lead to a bullish day.
The market is being inflated really strong, considering P/E are all above the 30s in Large caps.
Bearish factor
Unemployment claim is expected to be 4 million tomorrow ( probably lower)
GDP fell 4.8% more than 3.5% estimated.
Housing sales -20.8%
TA
If the trend is correct. SPX can spike above 3000 EOD.
RSI is having lower-high. Stocks should be higher -low (bearish).
Open high then a drop ( profit taking). Then continue to be bullish.
Thank you and good luck.
Bullish factors:
FED will keep 0% - 0.25% interest rate until Covid-19 is over.
Fake news GILD made a strong bullish trend. It hasn't been completed and verified.
clinicaltrials....ord/NCT04292899?cond=covid...
Actual result: www.marketwatch.com/...-covid-19-2020-04-29
FAANG earnings pushed the market further up with Microsoft heated expectations, Facebook has more revenue.
TSLA will be bullish due to strong earnings and FOMO
AMZN earnings will beat expectations tomorrow.
This could lead to a bullish day.
The market is being inflated really strong, considering P/E are all above the 30s in Large caps.
Bearish factor
Unemployment claim is expected to be 4 million tomorrow ( probably lower)
GDP fell 4.8% more than 3.5% estimated.
Housing sales -20.8%
TA
If the trend is correct. SPX can spike above 3000 EOD.
RSI is having lower-high. Stocks should be higher -low (bearish).
Open high then a drop ( profit taking). Then continue to be bullish.
Thank you and good luck.