What are the effects of the coronavirus on life in the U.S.? Lost lives, lost jobs, trauma, shutdowns and trillions in borrowing and money printing.
What does Wall Street say? The coronavirus doesn’t matter to the stock market. Wall Street wants you to believe it’s safe to buy.
What happened to prudence for investors in the stock market? Let’s explore with the help of two charts
Please click here for an annotated chart of the SPDR Dow Jones Industrial Average ETF DIA.
Please click here for an annotated chart of SPDR S&P 500 ETF SPY.
Note the following:
• The first is a monthly chart giving investors a long-term perspective.
This post was just published on ZYX Buy Change Alert.
Occidental Petroleum (OXY) was bought at $11.67 five trading days ago. It has moved up to $16.49 in the aftermarket as of this writing and is actively trading.
The target zone has been $15.83 to $18.34. The reason the stock is running up in the aftermarket appears to be rumors about the OPEC meeting set for tomorrow. There may be more rumors or the results of the meeting may be known before the U. S. market opens. Depending upon the results, OXY can run higher or experience a significant drop.