If 2 trillion can’t get the market above 2500 on the even on a knee jerk bounce, it’s going to be a long and bumpy road both in terms of virus health scares and the torrent of lousy economics to go before we see any real improvement, I’m afraid.
The only thing I see is disappointment across my network as the bounce wasn’t big enough to fade which isn’t a good thing for risk sentiment in my view.
But with both bull and bears alike hoping there’s still, a caveat or two to come, the markets are stuck in no man’s land with little meat for the algorithms to digest.
One positive in the order flow
But as far as the order flow suggests, maybe some solace to be had as system selling has stopped, and some small institution bids are returning the fold. But how long any of this holds up will significantly depend on whether the next express elevator ride takes us to floor 2700 of 2000 of the SPX.
However, with the remaining sticky at 60, it most certainly needs to fall below…