What I can say? – Congrats to all who followed my analysis and sold SP500. Oh my gosh, you can’t imagine how criticized I was for that forecast. But look how it paid. Today I want to start my weekly outlook with the stock market. I think I will get the same portion of critics ))) But it doesn’t stop me. Guys, we have seen the worst, market bottoms… I had longs in Sp500 and already booked it. Speaking about the short-term, we should see a bit more of an upside and then pullback. And its opportunity I am waiting for.

Everything tells Sp500 sets up for the rally. I know many traders are waiting for a huge decline saying there is no good news – why the market should rally? Guys, it never rises on good news. When recession or crisis ends, the market is way above its bottom. Check your charts, every time the same story. Big money accumulates positions before the economy shows signs of strength. Look at Fed funds, they will bring money to market. Besides, what caused a huge sell-off? – Virus. It’s reaching its peak and fade away soon. Do you know what it means? – All will be back to stocks. So, no matter if you are a short-term trader or long term investor look for and take buy signals. We will see a rally soon. 

SP500 and Wheat analysis for 13 - 17 April 2020

Wheat became one of my favorite markets this year. Its tight market that follows cycles very well. Managed accounts investors had profits from longs, then shorts, then longs again lol and now I think we will see one more move to the upside. SL – below last week’s low and targets near recent highs with possible extension to 608.

Wishing you a great week!

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