Daily Archives: July 9, 2020

Americas

U.S. #coronavirus cases rise by over 60,000, setting single-day record – Reutershttps://t.co/863PIs0rf6

— Christophe Barraud (@C_Barraud) July 9, 2020

As Businesses Reopen, Many Americans Plan to Spend Less – Bloomberg
*More than 40% of adults say they’ll cut back on some of the very discretionary spending needed by struggling retailers.
*Link: https://t.co/yhrgH3yEnD pic.twitter.com/31dZBvLhx7

— Christophe Barraud (@C_Barraud) July 9, 2020

Clash looms over next #coronavirus relief bill – The Hillhttps://t.co/XBdYbRyglr

— Christophe Barraud (@C_Barraud) July 9, 2020

#Biden to Map Economic Path Delaying Progressives’ Biggest Plans – Bloomberghttps://t.co/M1QcPrl31W

— Christophe Barraud (@C_Barraud) July 9, 2020

Asia

#Australia | #VICTORIA RECORDS 165 NEW CORONAVIRUS CASES SINCE YESTERDAY https://t.co/v8fbQSdiRN

— Christophe Barraud (@C_Barraud) July 9, 2020

#Japan | #TOKYO CONFIRMS 224 CASES OF CORONAVIRUS FOUND TODAY: NHK – BBG

— Christophe Barraud (@C_Barraud) July 9, 2020

#HONGKONG TO ANNOUNCE TIGHTENING OF VIRUS MEASURES THURS.: TV – BBG
*H.K. TO LIMIT RESTAURANT PARTY SIZE TO 8 PER TABLE: CABLE TV

— Christophe Barraud (@C_Barraud) July 9, 2020

#China state media commentary urges investor respect for market – Reuters
*China’s securities regulator published a list of 258 illegal margin lending platforms and their operators on Wednesday to try to tame the bull run.https://t.co/60MpGBBou9

— Christophe Barraud (@C_Barraud) July 9, 2020

Europe

Britain has come up with a tastier-than-average kind of stimulus — the government will hand out vouchers to the public to boost spending at restaurants and cafes that have been hit hard by the lockdown. Read more https://t.co/s70Cf0cZaU pic.twitter.com/f5u04ljLGe

— Reuters Business (@ReutersBiz) July 9, 2020

Italy's Di Maio says time has come to withdraw Atlantia's motorway concession https://t.co/NyfBoeNYuf pic.twitter.com/KtDHZjmP6u

— Reuters Business (@ReutersBiz) July 8, 2020

#China | 72% of the 300 stocks included in the CSI 300 have a RSI (14-day) above 70, suggesting they are "technically overbought" – Bloomberg TV
*It's the highest proportion since Feb. 2009. pic.twitter.com/2Ki5BOFTPD

— Christophe Barraud (@C_Barraud) July 9, 2020

As Businesses Reopen, Many Americans Plan to Spend Less – Bloomberg
*More than 40% of adults say they’ll cut back on some of the very discretionary spending needed by struggling retailers.
*Link: https://t.co/yhrgH3yEnD pic.twitter.com/31dZBvLhx7

— Christophe Barraud (@C_Barraud) July 9, 2020

'The retail stores of America's most valuable company have arguably become something of a barometer for how the pandemic is affecting different parts of the country. Apple has currently shuttered roughly a third of its US stores.' https://t.co/ABhJKFsfcY pic.twitter.com/YeOG3n6Sby

— Jesse Felder (@jessefelder) July 9, 2020

China is now the "no way I can lose" market

Meanwhile, China's Volume Speculation Index, which looks at how much volume is flowing into Chinese vs. U.S. equities, surged

In the past, this was bearish for Chinese stocks long term. When everyone & their grandma is buying China… pic.twitter.com/80jS2bYYOp

— SentimenTrader (@sentimentrader) July 9, 2020

NASDAQ Daily Sentiment Index’s 30 day average is at one of the highest levels EVER.

History tells us that this is a dangerous time to be full-bore bullish. Such extreme sentiment often led to large pullbacks & corrections.

Monitor this risk closely in the weeks ahead. pic.twitter.com/kjZ7HJ3cjZ

— Troy Bombardia (@bullmarketsco) July 9, 2020