The market has continued to rally as expected and just needs to overcome resistance in the 3230-40 range to possibly breakout and challenge ATHs. In the meantime, the number of virus cases in the US is now out of control and there is simply no end in sight to this nightmare. The market continues to behave like the orange clown himself like nothing is happening but the inevitable will come. You simply can not deny a once in a 100-year pandemic! I read an interesting article on what JP Morgan is predicting and it just goes to show nobody knows anything at this point other than it will be bad no matter what.
https://www.cnbc.com/2020/07/18/jamie-dimons-warning-for-the-us-economy.html
In the meantime, we just need to be patient and wait for a fast cure or vaccine.
Short Term Trendd = Bullish
Medium Term Trend = Bullish
Long Term Trend = Bullish
* Trends are not trading signals. Trends are posted for situational awareness only and do not take into account wave counts, technical or fundamental conditions of the market. While mechanically trading the posted trends is feasible, keep in mind that these are lagging indicators and as such are prone to whipsaws and I personally do not use nor recommend them to initiate or close positions in the market without taking into consideration other factors
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