So the bulls were able to string together two green days on the backs of this unprecedented corona virus recovery package, a package estimated to be upwards of 10 trillion dollars. Clearly, this has to be bullish for stocks as history has taught us not to fight the FED. And, if you missed it The Federal Reserve is now ALL IN, buying IT ALL. Unlimited fire power.
Peter Schiff was sure to bless us with an emergency podcast incase you missed it:
I’ve never cared much for the macro doom and gloom pitch (seen in the video above), as there is always something to trade in the short term. And, right now the Exodus algos are pointing to oil & energy, specifically oil refining. Have a look at top hybrid movers on the day:
Also, here are the current top 10 stocks within the Exodus system, note that the rankings change daily. The oil patch owned the top 10 today:
Let’s see if the bulls can string together another green day tomorrow. Let’s also continue to look to oil for clues on economic recovery. There will be some good trades in this beat up industry if oil can get up and rally here. For now, all we can do is take it one candle at a time.
See you guys at the open…