DJIA closed at 23650.45, which is outside its rising wedge pattern bottom line,
after losing 2.44% (592.05 points).
It has also closed below its weekly chart 200ma as well.
SP500 slided 1.79% (51.40 points) to close at 2823.17.
It may back-test its 50% Fibo retracement level at 2792.69 after being rejected by thick supply zone .
VIX was up 14.89% (5.68 points) to close at 43.83. It is ranging and it is at its support turned resistance level.
Nasdaq slide back down 1.03% (89.41 points) to close at 8560.73 after par all early losses to turn green to fill its gap at 8678.19. It closed below gap by EOD instead.
Russell 2000 slide back down 1.28% (15.751 points) to close at 1213.348, after recovering from losses to turn green. R2000 has been support from its parallel channel mid line.
Stocks - Crude Awakening Hits Wall Street Amid Historic Slump in Oil
By Yasin Ebrahim
Investing.com – Wall Street ended the session near the lows of the day, led by a slide in energy as oil prices slipped into negative territory for the first time ever, as many fret over storage capacity constraints at a time when the Covid-19 pandemic has hit demand.
Energy stocks led the broader market lower, paced by a decline in the price of oil for delivery in May, which settled below zero for the first ever, amid weaker demand and fast-paced selling by speculators scrambling to sell long positions to avoid owning tacking physical delivery.
“Cushing is landlocked and stocks look likely to be full within 3 weeks,” said Chris Midgley at S&P Global Platts. “This weekend saw the price of WTI futures crash as traders had to sell long positions to avoid being caught having to deliver physical oil into the contract when there is no storage available.”
The slump in oil prices proved of little respite for airline stocks the sector is not expected to make a quick recovery amid uncertainty about how long the Covid-19 pandemic measures remain in place.
But there was some reason for optimism.
In New York state intubations fell by 32 compared with a 152 decline yesterday, while total hospitalizations were about flat compared with a total of 1384 a day earlier, according to New York Gov. Andrew Cuomo. The Covid-19 curve in New York is “off of the plateau and now starting a descent,” he added.
Also weighing on the broader market, defensive corners of the market like utilities, and real estate fell nearly 4%.
Corporate earnings, meanwhile, underscored the impact from the coronavirus, which has killed about 168,000 and infected nearly 2.5 million worldwide.
United Airlines (NASDAQ:UAL) dropped 4.4% after warning of a $2.1 billion loss in the first quarter as revenue fell 17% to $8.0 billion amid a plunge in travel.
Elsewhere, Boeing (NYSE:BA) slumped 6.6% as China Development Bank Financial Leasing pulled its an order for 29 Boeing Co . 737 Max planes, worth at least $2.9 billion.
In sharp contrast, stocks that are expected to benefit from the current lockdown measures continued to climb, with Roku (NASDAQ:ROKU), Netflix (NASDAQ:NFLX), and Amazon.com (NASDAQ:AMZN) ended the day in the green.
Source
https://www.investing.com/markets/united-states
https://www.investing.com/indices
https://www.finviz.com
https://money.cnn.com/investing/about-fear-greed-tool/index.html
https://money.cnn.com/data/fear-and-greed
Fear and Greed Index
On this page, you will find our latest updates on the CNN Fear and Greed Index.
The CNN Fear and Greed Index in its purest form answers the question, “What is the predominant emotion of the stock market right now?”
It’s a sentiment indicator that tells if equities are undervalued or overvalued. The logic behind it is that too much greed can push stock prices beyond their fair price, while too much fear can cause stocks to slip well below their intrinsic price, as traders don’t act rationally in the short-term.
The Fear and Greed index uses seven indicators to conclude the extent of the market’s fear and greed and measures the market’s sentiment based on these two emotions on a daily, weekly, monthly, and annual basis. The following metrics compose the index and aim to provide a holistic view of the market’s emotions:
Put and Call Options: How much have put options lagged behind call options?
Market Momentum: Where is the S&P 500 relative to its 125-day average?
Stock Price Strength: It counts the number of stocks that have touched 52-week highs vs. 52-week lows on the New York Stock Exchange (NYSE).
Stock Price Breadth: The McClellan Volume Summation Index compares the volumes on rising stocks versus declining ones.
Safe Haven Demand: How well are stocks performing compared to safe-haven assets like US Treasury bonds?
Market Volatility: It uses the Chicago Board Options Exchange Volatility Index (VIX) relative to its 50-moving average.
Junk Bond Demand: What is the spread between junk bonds and safer, investment-grade corporate bonds?
How to use the Fear and Greed Index?
The seven metrics are individually-measured on a scale of 0-100 with lower numbers indicating fear while higher figures pointing to greed. They are then weighted equally to calculate the Fear and Greed Index.
The index is a great tool to help investors and traders get an idea of when it is time to enter the markets. When the Fear and Greed index is trading near its recent extreme lows it hints that a significant bottom in the market is pending. The index should be interpreted with the help of technical analysis to improve entry signals. It is also possible to use the index to figure out when the market is overbought, but at least historically, the indicator is less useful to predict significant highs.
DISCLAIMER:
Hello,
All information updates, tables and charts are for informational purposes only; they are not intended for trading purposes or advice.
We do not and cannot guarantee the accuracy of the information.
Please consult your broker or financial representative to verify pricing before executing any trade.
We are not liable for any actions taken in reliance on information contained herein.
With best regards,
Martin
https://www.investing.com/markets/united-states
https://www.investing.com/indices
https://www.finviz.com
https://money.cnn.com/investing/about-fear-greed-tool/index.html
https://money.cnn.com/data/fear-and-greed
Fear and Greed Index
On this page, you will find our latest updates on the CNN Fear and Greed Index.
The CNN Fear and Greed Index in its purest form answers the question, “What is the predominant emotion of the stock market right now?”
It’s a sentiment indicator that tells if equities are undervalued or overvalued. The logic behind it is that too much greed can push stock prices beyond their fair price, while too much fear can cause stocks to slip well below their intrinsic price, as traders don’t act rationally in the short-term.
The Fear and Greed index uses seven indicators to conclude the extent of the market’s fear and greed and measures the market’s sentiment based on these two emotions on a daily, weekly, monthly, and annual basis. The following metrics compose the index and aim to provide a holistic view of the market’s emotions:
Put and Call Options: How much have put options lagged behind call options?
Market Momentum: Where is the S&P 500 relative to its 125-day average?
Stock Price Strength: It counts the number of stocks that have touched 52-week highs vs. 52-week lows on the New York Stock Exchange (NYSE).
Stock Price Breadth: The McClellan Volume Summation Index compares the volumes on rising stocks versus declining ones.
Safe Haven Demand: How well are stocks performing compared to safe-haven assets like US Treasury bonds?
Market Volatility: It uses the Chicago Board Options Exchange Volatility Index (VIX) relative to its 50-moving average.
Junk Bond Demand: What is the spread between junk bonds and safer, investment-grade corporate bonds?
How to use the Fear and Greed Index?
The seven metrics are individually-measured on a scale of 0-100 with lower numbers indicating fear while higher figures pointing to greed. They are then weighted equally to calculate the Fear and Greed Index.
The index is a great tool to help investors and traders get an idea of when it is time to enter the markets. When the Fear and Greed index is trading near its recent extreme lows it hints that a significant bottom in the market is pending. The index should be interpreted with the help of technical analysis to improve entry signals. It is also possible to use the index to figure out when the market is overbought, but at least historically, the indicator is less useful to predict significant highs.
DISCLAIMER:
Hello,
All information updates, tables and charts are for informational purposes only; they are not intended for trading purposes or advice.
We do not and cannot guarantee the accuracy of the information.
Please consult your broker or financial representative to verify pricing before executing any trade.
We are not liable for any actions taken in reliance on information contained herein.
With best regards,
Martin
No comments:
Post a Comment