Tug of war between Chinese EV and S&P

21 พ.ย. 2020

CURRENCYCOM:US500

As S&P 500 walks along the tight rope, will Chinese EV be heavily influenced by S&P 500?
S&P 500 is looking to dip, which might cause another market crash, possible of 40% to 2100.
This is interesting as it is aligned with Citron targeting NIO with a price of $25, around 48%.
As Tesla correlation with S&P500 is much higher now, a strong tug of war can be seen at a price of $500.
On a macro perspective, Biden is looking to pull the plug on the Fed.
This means there would be a selling of bonds which leads to a decrease in money supply and a potential downturn for the Stock Market.
Furthermore, COVID-19 cases are riding on new highs with lockdowns thrown everywhere.
Situation does not look good at the moment and next Friday, which is Black Friday might just make COVID-19 fatter.
This really is precarious times we are living in, now just the outside world but in the world of stocks.
Trade safe people!