☝️ Risk Factors Ahead Despite Best Quarter Since 1998 ☝️

July 3, 2020

4 min read

Dear traders,

On Tuesday, the S&P 500 closed the best quarter since 1998. But many risk factors are still ahead of the market in 2020.

This article explains what happened next, what to expect from Gold, and an overview of the S&P chart from a technical point of view.

Stock Market Inches Ahead Despite Risks

On Wednesday, the S&P index went flat but yesterday it saw another bullish day. That said, the S&P did correct most of its gains during the rest of the day on Thursday.

The fear seems to be coming amid further signs of acceleration by Covid in several states. This is the reason why airlines and cruise operators have seen yet another decline. Experts are now waiting for a second wave of Covid.

In addition, most of the hedge funds have not yet invested their capital, which could add up to large sums of money. We must also remember that the US-China war is still going on. So what will happen?

Technicals Remain Bullish but Require Close Monitoring

It’s hard to say. From a technical point of view, the support of 3,000 points has been repeatedly tested (200SMA is more or less the same level), and therefore it is presumably the watershed between the long and the short market.

All this considered, downside protection based on SPX index (or SPY Etf) is even more necessary to protect our portfolio from a sharply market downside.

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