Think of it this way. How many stops could there be underneath 2745? That's right, massive. We gotta gun those stops and the rest will be history.
Who said ES and Nikkei were buddies? ES doesn't seem to give a crap about its buddy tonight. At this rate, I think I might need to run for cover. Stop placed at BE for the trade below.
Has anybody actually thought about what the economic state of affairs means for market beyond what candles are telling you? People don't save and live at their means in the best of the times. They usually live beyond their means through credit. The economy in most states won't end their lockdown until the end of April. That's a little more than two weeks. Unemployment is usually paid to a debit card tied to a custodial account, which means the money has to be transferred in. What kind of machine(s) will print and mail tens of millions of checks to everyone? The $350 billion has run dry. There's no stipulation that they actually use the money to pay employees. It's highly likely Cheesecake factory has received cash, and I haven't heard they are un-furloughing 41,000 employees. Websites say that if you purchase gift cards they will use "some" of that money on employees' wages. The stimulus actually doesn't cover everybody's bill even in this supposed plug-year-ears la-la-la I can't hear coronavirus market. If it was not going to be so devastating to so many, I would laugh at everybody buying long-term. What is all the jubilation about? What is the zeitgeist saying/feeling? There must be some hidden knowledge that makes people buy. All I know is that SPX has become to rich for my blood.
Real money only trades during RTH. Nothing to see here. Two guys in their underwear in the basement etc. etc.