Market Briefing - What happened this week | July 3, 2020

Stimulus package 2.0 are in talks and have may be coming soon, but how fast will it take to go out? It will need to pass the house, senate and finally the President's approval before the IRS will take action.

The last stimulus which came with the CARES Act, the president signed the law on March 27 and it took less than 3 weeks before the cheques were sent out. There are two planned recesses for the Senate in the summer, will they be able to get it passed this summer? 

Will it be in time and will it be enough before the before the floodgates open? 

You know the saying, "never put all your eggs in one basket"? NASDAQ 100 just did that... but instead it's putt almost HALF of its weight on five tech companies. Never before has the NASDAQ been that focused on just a few companies. While these companies had great growth, we know that theis growth can't last forever. It does expose the NASDAQ to major volatility if 2 or more of the big five companies are having a bad day. 

Join us this week as we learn from community mentors on how to read charts and conduct technical analysis to get a better picture of where prices will go. We will be going over five technical indicators you can pick up and start using next week to get a temperature check of a stock or equity. While a single indicator may not guarantee the equity's price, it gives you some information on hwo it is doing from one perspective. knowing multiple indicators can get you a more complete picture; allowing you to make a well informed decision.

Stop trading blind and join us at our next few zoom sessions as we learn how to do Technical Analysis:

Here's a summary of what some of our favorite influencers are worried about:
Alessio Rastani:

• Vaccine may not be 100% effective, expect another 8-12 months
• 50k new cases daily, way more than march
• Houston hit 100% of ICU capacity
• NASDAQ at all time high
• 600/wk unemployment stimulus is expiring
• Stocks are in bubble territory, everyone and their moms are on Robinhood
• Economy is decoupled from stock market and expect a rebound soon
• Position: Sold all of his stocks back in June. Recently bought gold

• 11.1% unemployment rate doesn't cover everyone
• If you include those not collecting unemployment, those given up and those underemployed, it's closer to 50%
• Certain sectors are getting more jobs with reopening but still 40% down from last year
• May take until 2028 before we get back to long term growth trend 
• Jobs are cut and ripple effect will affect Main Street and economy
• world trade is slowing down

CNBC- What unemployment benefits without extra 600 looks like in different states?
CNBC- Nearly half of US population without a job
Business Insider- China passes sweeping national security laws for Hong Kong
Reuters-  Canada's biggest banks join boycott of Facebook platform
Oilprice- Oil Prices Fall As Demand Outlook Worsens In U.S.
Bloomberg- Tesla Delivery Beat Sends Shares Surging Toward Top Price Target
CHCH - WestJet to layoff more than 3,000 employees
Seattle Times-  Further layoffs at Boeing to push total job cuts in Washington to 10,500