On every trading day, after market closes, I would choose 10 best tweets from the Fintwit World and rank them on thoughtfulness of their ideas and informative of their charts. Please tweet your nominations for Top Ten Tweets (TTT) to my account @MasterPandaWu.
SPX hit 4,500 mid-day today, a milestone that few envisioned at the beginning of the year. Since April 16th, when SPX conquered 4,100, the broader market has been wedging up within two well-defined trendlines (see chart below). On four different occasions over the last months, SPX declined sharply, in a clear zigzag pattern, only to be rescued by the lower black trendline. Today, when SPX smashed another whole number in its relentless rise to eternity, the entire Fintwit World is filled with disbelief (@Schuldensuehner), sarcasm (@NorthmanTrader), and certainly, caution (@MFHoz). Some key indicators, including $NYMO, $CPCE, $MMTW, and DIX, have been reset by the corrective move last week, and are neutral now. For those investors who are deeply invested in China Concept stocks, however, their hearts are pounding ever harder as the whole world is waiting for the Covid-19 Origin report. If there is no definitive conclusion as to the origin of the deadly virus, investors would breathe a sigh of relief. However, if not, all bets are off. Stay Tuned.