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Bulls Reclaim Despite Virus Spread

by Adam Button
Jun 25, 2020 19:21

US indices made a late session push higher lead by financials and energy despite another surge in US Covid19 cases hitting their highest since April. +34,500 new infections for a second straight day and higher than expected jobless claims did not stop improved risk appetite from rebounding as US bank stocks led ahead of a an expected relaxing of capital rules. What is this 12,000-1.1200 mentioned by Ashraf? (see below) Yesterday's opened Premium DAX trade long is currently +200 pts in the green, while WhatsApp Group Broadcast members had a field day in shorting DOW at 25500s, squaring at 25400 and rentering longs for 25680s. More on how to join below.

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Bulls Reclaim Despite Virus Spread - Whatsapp Sample June 25 2020 (Chart 1)
The 12000-1.1200 is mentioned by Ashraf to his WhatsApp Broadcast Group as the crucial support & long point for DAX30 and EURUSD into higher levels. Throughout the Wednesday and Thursday US sessions, Ashraf has repeatedly mentioned 11970/12030 as ideal zone for going long DAX and 1.1190/1.1220 as zones for EURUSD longs.

Just as the weight of the continued rise in US virus cases finally pulled down risk trades on Wednesday, the key price levels held up; 

- DOW30 held up atop the start of the down gap from March 6.

- SPX tested the 200-DMA before closing well above it. 

- VIX fell 5 points after failing to cross the 100-DMA.

- US crude oil remained underpinned babove the 37 lows.

- DAX found persistent support above the Mar 18 trendline support.

One narrative to keep an eye on is masks. Some US leaders are increasingly coming around to the idea that masks are imperative to spark any kind of recovery. VP Pence was seen in a mask Wednesday in a rare shift. Business leaders are talking more about masks as a way to restore confidence and a major upside risk is that talk resonates with Trump. It would be a major U-turn for the President but his poll numbers are dropping and his re-election depends on successful restart of the economy.

At the same time, the true level of economic activity is murky. There is an increasing focus on high-frequency data like hours worked from Homebase. It shows a recent dip in hard-hit US states and that poses a big risk for the reopening story.

What's Special about the WhatsApp Broadcast Group?

The WhatsApp Broadcast Group consists of more frequent trade ideas and updates as well as signalling to members that Ashraf will be issuing a new trade action to the general Premium clients.  In each of the winning Premium trades of the past 5 weeks (gold, silver, EURUSD, DAX), Group members were able to make more gains due to extra guidance via WhatsApp.

The service is only offered to subscribers of our 6 months and 12 months Premium Insights package. It is also extended to 3-month subscribers who have been with us for at least 1 year can also participate. 1-month subscribers are not invited to take part in the Group.

Please bear in mind as move up the subscription time scale, you are always saving on a per-month basis. 

For example, the 1-month costs $110, but you when you pay $295 for the 3-month subscription, you are effectively paying $98 per month (compared to the $110 you pay for 1-month).

The savings are more for the 6-month subscription ($550), which in effect translate to $91 (compared to $110).

Naturally, the savings are GREATEST for the 12-month subscription, priced at $995, but is the equivalent of only $82 per month, compared to $110 per month for the monthly.

 

 
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