After dropping about 10% from the recent top at 28957, the Dow Jones Industrial Average found support at the 200 day moving average level 26214 and is bouncing. This is only a oversold bounce and likely be temporary. Negatives for the stock market is still overwhelming: Covid-19 Pandemic worsening, no stimulus plan in sight, election uncertainty, Companies refrain from projecting the future, crude oil collapsed down to near $35 per barrel....This afternoon AAPL, AMZN, FB and GOOG will report earning. They are expected to beat but sell on news may happen just like after MSFT's report. They may bounce briefly if they beat on earnings but will likely turn back down. So this is a sell on rally kind of market. The 200 DMA is crucial. Dow may slide to 25000 support quickly if the 200 DMA is broken. The 26537 level is also important because if broken the Double Top pattern will be confirmed.
Today's market news from ZeroHedge:
Covid-19 Pandemic summary:
France to re-close Disneyland Paris
Global cases near 45 million
New records in Romania, Poland
Greece announces 1-month lockdown
Belgium hospitalizations hit record as nonessential medical patients delayed
Italy will decide on new measures after another week
UK rate of spread surges as BoJo faces pressure for national lockdown
India tops 8 million cases
Singapore lifts travel restrictions with China
Moderna gets billion-dollar deposit
。Germany and France unveiled their plans to return to the most restrictive'partial lockdown' conditions since the springtime quarantine period ended yesterday, a group of smaller European nations are following suit with Greece introducing a one-month lockdown after two days of record new cases.
。US GDP collapsed by a record 31.4% annualized, moments ago the BEA reported that in Q3 the US economy rebounded by a similarly record high 33.1%, the biggest annualized increase in history. The GDP number beat estimates for a 32% increase.
。ECB president Christine Lagarde warned that there’s a clear deterioration in the outlook and the recovery in the euro area is “losing momentum more rapidly than expected.”
。Stocks, bonds and gold down on the same day-only happened three times in market history – on March 11, March 18th and October 28 2020-during the liquidity crisis where nearly all assets where liquidated as risk-parity funds were hammered. This brings us to the risk-parity "matrix of doom", which shows at what drops in both bonds and stocks risk parity portfolios are forced to de-lever aggressively.
道琼斯工业平均指数从近期高点28957元下跌约10％之后，在200日移动平均线水平26214处获得支撑，并且正在反弹。这只是超卖反弹，很可能是暂时的。股市的负面因素仍然不胜枚举：Covid-19大流行病毒恶化，没有经济刺激计划，选举的不确定性，企业不敢预测未来，原油价格暴跌至每桶35美元左右等等。今天下午，AAPL，AMZN， FB和GOOG将发报财报。预计它们将会好于预期，但可能会像MSFT的报告之后那样被抛售。如果他们的收益超过预期，他们可能会有短暂上升，但很可能会再回落。因此，这是逢高卖出的市场。 200 DMA非常关键。如果200 DMA被击穿，道琼斯指数可能会迅速下滑至25000支撑。 26537水平也很重要，因为如果跌穿，将确认双顶形态。
源自ZeroHedge的今日市场新闻：
。Covid-19大流行摘要：
法国重新关闭巴黎迪士尼乐园
全球案件近4500万
罗马尼亚，波兰创新纪录
希腊宣布为期1个月的锁定
比利时住院治疗创纪录非重要患者住院被推迟
意大利将在一周后决定采取新措施
英国首相面临国家封锁的压力，英国感染率激增
印度案件突破800万
新加坡取消对中国的旅行限制
Moderna获得十亿美元的订金
。德国和法国公布了他们的计划，恢复自春季检疫期结束以来最严格的“部分封锁”条件，一些较小的欧洲国家也效仿希腊，在两天的新案件破纪录之后，实行了为期一个月的封锁。
。BEA报告称，美国经济在第三季度反弹了创纪录的33.1％，是历史上最大的年度增长。 GDP增长超过预期的32％。
。欧洲央行行长克里斯蒂娜·拉加德（Christine Lagarde）警告说，前景明显恶化，欧元区的复苏“失去动力的速度超过了预期。”
。股票，债券和黄金在同一天下跌，在市场历史上仅发生的三次是在2020年3月11日，3月18日和10月28日-流动性危机期间，几乎所有被风险平价基金卖出的资产都受到了冲击。这将我们带到了风险平价的“厄运矩阵”，它显示了债券和股票下跌时，风险平价投资组合被迫积极地去杠杆化。
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