Stock Market Close April 22nd, 2020

S&P 500: The trend is down as the 21 EMA (blue) is below the 55 EMA (brown) . The price rose above the 55 EMA. As soon as either the price or the 8 EMA (red) crosses back below the 21 EMA, we will have a short trade on our hands. The chart below gives you a visual of how our Exponential Moving Averages (EMA) sit at the moment.

S&P 500

Gold: We find ourselves in an uptrend with gold. The price in the futures has closed above the 8 EMA and the 21 EMA is above the 55 EMA.

The stock market ETF for a long trade in Gold is UGL. We have a stop – buy in on this instrument at $64.75. Details and chart will appear if the trade executes.

Oil: Still in swan dive. We were stopped out of our SCO trade as detailed yesterday.

I have tried to upload a video of the SCO beauty, but to no avail. I will see if I can make the file compatible for tomorrow.

Will oil go lower? Who knows. Our trade is over. We trade our process and leave the guesswork to others.

USD/EUR: the price for this pair is above the 8 EMA and the 21 EMA is above the 55 EMA.

We are still in a trade with the stock market proxy, EUO. There is considerable overhead resistance. We shall see if there is enough juice to push us through.

Bitcoin: the futures have been messing around the 233 level since mid-March. The 21 EMA is below the 55 EMA giving us a downtrend set up. The 8 EMA and the 21 EMA are almost fused together. Our stop – sell in the proxy, GBTC at 6.23 is still in place.

Apple: The 8 EMA and the price is almost fused together just above the 55 EMA. If the price or the 8 EMA closes below the 21 EMA, it would signal a short trade.

Any questions or comments, drop me a line at:



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