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Markets rallied hard today - this was due to several factors:
1. VIX was up for the past few days
2. Dollar had rallied significantly in the past few weeks and was due for a pullback.
3. Euro rallied from an oversold condition - but this move up will be short lived with the current negative interest rate environment in the Eurozone
4. Retail Sales were down and that inspired the bulls to think that the Fed would be refrained from raising rates in June
5. Health Stocks and utility stocks were looking oversold and therefore there was a good bounce - we expect a test of 2025 on the SP500 and we went long BIDU today with a covered call strategy - we discussed this strategy in our blog yesterday.
- Check out our site for auto buy and sell signals for any stock, check out our real time news feature for before and after hours news and updates. We have technical mouseover charts for very quick technical analysis on our reports and earnings page.
Good Luck Trading.
Trucharts team
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