We start with gold. Our preferred path is for a small pullback over 1-2 days then another attempt at the 1800 level. We expect that to fail and repel price downward for a buyable correction into early May.
The Nasdaq is leading and has already regained the 200 daily moving average: highly bullish! It appears unless something out of left field appears from the White House, we will reopen the economy shortly and the stock market will rocket making as the record institutional cash on the sidelines chases!
The SPX needs a little more work to regain the 200 daily moving average. This would be the nail in the coffin and increase the odds to 99% for a V rocket ship recovery into May.
We purchased Bloomin Brands today, BLMN $8.57 for our accounts. We expect this to be a big mover as the country is reopened in the coming days. Please refer to the blog for a detailed report on the company we posted today after our initial alert.
