RUS trying to hold it's 50-dma and trend-line support.

"Given that 1) people stopped going to restaurants, 2) they kept eating, & 3) farmers are dumping produce, dairy, meat owing to a surplus nobody wants, could it be that restaurants, (because of their need to maintain variety & excess quantities) waste lots of food?"

Forward looking assets can look beyond weak fundamentals, not commodities.

                                                                                                                                                  QQQ - Technically in an uptrend and looks like only C-virus can stop it

                                                                                                                                       DBC - trying to find a bottom, we'll see if there is pent up demand and as the world opens up can some commodities benefit.

Stocks price action overnight vs. day-sessions.

Stocks have been gaping up and then just sitting there and selling off during the day.

                                           

Roaring 2020's continue.

                                                                                                                       

S&P's banking ETF

watching if KRE will give us some clues about the market today, if it goes and stays below 35 get defensive, above 37 and rally is not over yet

QQQ around resistance, now we can have a new leg up if we can absorb the supply above and hold, OR, rejection and a start of a new leg down.

Russell, found support at 20 dema and on anticipation that things will improve.

                                                                                                                                                            notice volume

The economy and the stock market observations.

Today marks the end to a historic month.

From the month's low close on April 1 to today's before market open levels, the SPY is up more than 20%. In that same period, more than 85% of the SPY's gains occurred from the gap opens. And through yesterday, the SPY had gapped higher by at least 40 points for six straight days. Markets always evolve and unique behavior is normal and natural - but this month's overnight action is unforgettable.
It looks like the argument you can't pump $10 trillion in fiscal and monetary policy actions without generating higher stock prices is winning.

Russell, range expansion up in the Small caps has often marked intermediate term tops in the past.

This market has nothing to do with Fed liquidity. It's been driven by illiquidity. Almost every night for a month, the day's price has been set by a small number of transactions in the futures market at the least liquid time of night.

                                                                                          hourly view

The S&P is up double digits this month, however, most of the action occurred at night. Month-to-date, we’ve had just one day that traded more than 10 points on either side of unchanged and today was yet another gap that remained on that side of unchanged for the day.

...nobody should be under the perception that [commodity futures] can't go below zero...We've seen other commodities go below zero in the past...We have to do things to allow the market to go to a price [that] is reflecting the fundamentals of the product...The futures market worked to perfection...small retail investors...need to make sure they understand the rules... - CME

Why can’t wine prices go below zero ?

"In bull markets stocks don't go down on bad news."

 For the SP 500, today was the 9th day in the past 10 days, the day session gaped and remained on that side of unchanged. That has NEVER happened before. We've seen 8 of 10 but never 9 of 10. The interesting part is we've gone nowhere in the 10 days and are right in the middle of that range. 

"The market is the sum total of the wisdom and the ignorance of all of those who deal in it and we dare not argue with the market’s wisdom. If we learn nothing more than this we’ve learned much indeed."

US Futures Crude Oil Fall Below Zero For The First Time In History

" Anyone who doesn't change his mind often is dramatically underestimating the complexities in the world we live in. "

Spying the SPY

This is a bearish formation, but if we don't break down and go sideways for a while, then it's possible we can go higher from here.

"A picture is worth a thousand words"

“For all those against reopening the country until things are perfectly safe please educate yourself on what happened in the Great Depression. I have, you will be surprised at the death and destruction that came about, much greater than Covid 19 damage could be. Disease, starvation, suicide, family destruction, abuse, drug addiction and lost dreams. The mental depression and lost souls were staggering.”

Dow rallied 25% of the lows.

In 1929 the market rallied 50% before resuming downward in a secular bear market.

, but

"If past history was all there was to the game, the richest people would be librarians."