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S&P500

S&P 500: Tenkan sen – Kijun sen cross

2 things to watch on the S&P 500 chart.

With the rally started on March 20, the market is seeing resistance

  1. The Tenkan sen and Kijun sen has cross as of 23 June; a potential reversal of this short-lived rally
  2. A letter ‘h’ is forming suggesting imminent sell-down if the support at 3016 does not hold.
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NASDAQ

NASDAQ. What we can learn from the past

Back in 2000, the dot com bubble burst. However, signs of the bubble can already be seen as far back as 1998 when Globe.com IPO.

Today, we can find similarities in the market; except that it can be worse.

Like the 2000 dot com bubble, the startups scene has been exuberated with ‘unicorns’ that never make money. We have more of those now compared to dot com bubble.

The venture capital winter started as far back as 2018 with a number of high profile failed IPO in 2019.

Couple with the on-going US-China trade war, and the pandemic caused by COVID-19, the economy can’t be performing better than ‘its peak’.

Raise cash and stay safe.

Categories
S&P500

S&P500 – further drop will mean huge resistance ahead at 2750 and above