10,000 coming very soon. End of July the enhanced unemployment payments of $600 go bye bye however no worries at all congress will approve another round of enhanced unemployment benefits to keep wallstreet happy happy happy as to not spook the markets. So by then Nasdaq will be 11k and moving onto 12k!!!!!!!!!
UK did Furloughs, so very few jobs lost, hooraaa the goverment. Came time to start paying up on this promise, they've given companies a 30day Amnesty incase any claims are fraudulent, there going to be examining all claims to make sure there legit ( Random number generator ), rejecting claims and handing out large fines for fraud. The way HRMC work is they hand out a Fine ( Randomly it seems ), then you have to go to Court at your own cost and appeal and the system is so rigged, nobody ever wins, so nobody bothers. Bet Government make more from the Fines than they pay out, don't get anything for free in this country. Companies are going to end up paying for there on holiday staff rather than risk the rejecting and the fines, there screwed Glad I didn't bother to claim, being self employeed, they'd of went you could work from home, but all my clients are closed, and ?? £5000 fine!!
Still ain't happening. 10K is a really tough barrier to break, and the Fed has nothing left in it's toolbox.
Here we go again...NQ bouncing away from 10,000. And people think I'm a loon for calling this out, this new resistance level.
12,000++++++++++++++++++ end of 2020 Once it gets solidly above 10k there will be no turning back. They will keep using the same exact stocks to keep the rally going. Have you not noticed the continous upgrades of all the heavy weighted stocks on a weekly basis, thats just to keep the market running up. All they need to do is keep the big names up 1-3% a week to keep the rally intact. Rinse and repeat over and over again..
No, I have not noticed that. All I see is multiple bounces off 10K level. That's a heavy, heavy resistance level. Market psychology.
As you may have noticed, longing the overnight Asia session is no longer working. This is indicative of a top. I don't think even the Euros can save us from this new resistance. Bye bye NQ 10,000.