We Are in the Business to Make Money

March 17, 2020

Mish's Daily

By Mish Schneider


Since I did a comprehensive interview with Dale Pinkert of Forex Analytics early today, I thought you might enjoy a listen.

Here are some highlights from our time together.

  1. We have a trifecta of junk-the virus, the oil market and central banks’ insane injection of stimulus
  2. Main Street versus Wall Street-Main Street comes home to roost
  3. Lose the judgement; we are in the business of making money
  4. We could bounce as selling starts to exhaust
  5. Reasons for support in the S&P 500
  6. Why the 80-month moving average is fabulous
  7. Important levels that could lead to an extended bounce

And 9 more:

  1. Why the small caps have a very different picture
  2. The market has inherent problems besides the coronavirus
  3. Buy for a technical rally, go ahead. But don’t get married to a bullish stance.
  4. A look inside the Economic Modern Family
  5. A look at Treasuries, the dollar, gold and miners
  6. A look at agricultural commodities and what would spark potential stagflation
  7. Why 2008 is different than today
  8. Keith and I are more like the Titanic than Rob and Laura Petrie
  9. A look at High Grade Investment Bonds

Here's the link to the interview.

And as a bonus, March 13th I sat down with Shannah Game of Millennial Money to talk about preparing for a major sell off in your retirement accounts.

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S&P 500 (SPY) After an inverted hammer doji day, today we had an inside day. Over 257 would expect more upside

Russell 2000 (IWM) 110 is a key number. Notable is that it did not have an accumulation in volume

Dow (DIA) 211.83 pivotal number and over 219 could see 237

Nasdaq (QQQ) Inside day. Needs to clear 184.68 to keep running

KRE (Regional Banks) A low volume reversal so possible to see a move to 39 IF holds 32.25

SMH (Semiconductors) New low in this move early on-so a close over 112.44 could mean a move up near 121

IYT (Transportation) Scant volume but over 140 could see some pop

IBB (Biotechnology) 100.51 the 80-month MA with 95 key support

XRT (Retail) Maybe a move over 30.50 can get this going to 38?

Volatility Index (VXX) Fear persists

Junk Bonds (JNK) 94.31 super pivotal

LQD (iShs iBoxx High yield Bonds) 120 resistance and an inside day

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