Market Analysis – Is the 2nd Wave of Sell-offs Coming?

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While the US economy looks to be slowly re-opening, we are seeing a lot of bearish news in the market.

Will there be a 2nd wave of infections, and a 2nd wave of market sell-offs?

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Market Overview

Looking at the various markets, it looks like this week going into risk-off mode, where traders take on defensive positions, and possibly shorts on the stock markets.

Stock Markets – Next Wave of Selling?

While the US is gradually re-opening its economy and easing restrictions, this might lead to a new wave of infections, since their cases and death rates are still rising, which shows that they have not totally got it under control.

Also, tensions between the US and China have been escalating, as the US Secretary of State Mike Pompeo saying that there was a “significant amount of evidence” connecting the coronavirus to a lab in the Wuhan region of China.

Over the weekend, during an interview with Warren Buffett, he said that he had sold all his airline holdings. While he was optimistic on the long-term outlook, he also mentioned that the pandemic has damaged some industries permanently, suggesting that the economy may not “return to normal” that quickly.

On the plus side, Gilead’s antiviral drug, Remdesivir, will be available to coronavirus patients this week.

Bitcoin – Amazing Profits in One Week!

Bitcoin was our most profitable trade last week, with an epic price surge of close to 30% in a few days.

Congratulations to all those who were following our trades! ???

Forex Market Updates

Here are a list of various potential trading opportunities for this week, including AUD/USD, CAD/CHF, CAD/JPY, EUR/AUD, EUR/NZD, Gold.

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Spencer Li

Spencer is an avid globetrotter who achieved financial freedom in his 20s, while trading & teaching across 70+ countries. As a former professional trader in private equity and proprietary funds, he has over 15 years of market experience, and has been featured on more than 20 occasions in the media.