Friday 1 May 2020
Update on the bear market rally call
I got roughly the right height, the 62% retracement/ just below 3000/ above 50 day MA/ below 200 day MA etc. area.
Depending on how you look at timing it either bracketed it with two false breakouts, or the rally lasted about a week longer than the sell-off.
US unemployment, horror show. Insured unemployed massively understates the actual level.
China ended lockdowns 10th March and the April PMI, 7 weeks later isnt quite at stabilisation yet, let alone rebounding...