Doctor Page: Stock Market Plunged Worldwide Amid Resurgent Covid-19 Pandemic|Fish.Pro Comment

By 0:18 CST on July 9th, WHO has reported a total of 184,820,132 confirmed cases of Covid-19 worldwide and 4,002,209 deaths.On July 8th, there were 484,439 new confirmed cases and 9,391 new deaths around the world.

The Delta Variant spread rapidly throughout the United States and In the United Kingdom, over 32,000 new cases of Delta were recorded in a single day.

As of 3:00 a.m. CST on July 9th,The United States confirmed a tally of 33,604,986 cases of Covid-19 with 603,958 deaths,according to the report of CDC(Centers for Disease Control and Prevention).

The Tokyo Olympics will be held without spectators in its host city in response to a new state of coronavirus emergency while South Korea would implement the most stringent pandemic prevention measures

In Asia,Malaysia reported 135 new deaths from Covid-19 on Thursday, a record high in a single day and Indonesia tops its new confirmed cases of 38,391 within one day.Meanwhile,Nigeria has found the first case of Delta Variant from new coronavirus

The Stock Market Plummeted as VIX Spiked sharply

People are now loomed by the concern that the resurgence of pandemic would halt the pace of economic recovery.As a result, VIX(The Cboe Volatility Index) soared to 26%,indicating a relatively strong bearish atmosphere in the market.

The European Stock slumped on Thursday,with near 60% of its shares falling over 2%. The European Central Banks (ECB ) has adopted a 2% symmetric inflation target,implying the easing state will last for longer time.The dovish policy,however,fails to terminate the tumbling trade of European stocks.The U.S. stock has the same dive,with the three major stock indexes recording the biggest decline since May this year.

Indeed the unexpected downward performance of US treasury bonds rate earlier this week has given a wake-up warning.The 10-year U.S. Treasury yield fell to 1.25% on Thursday, its lowest point since February while 30-year U.S Treasury yield plunged to a new low of 1.9% since February this year,a joint interpretation of market’s concerns over Delta strain’s impact on economic recovery

Nikkei 225

Nikkei Index has suffered a consecutive nosedive and may continue to drop below 27,000 in the wake of severe challenge posed by recent outbreaks in Japan and the South Korea.Even against such a background,Nikkei 225 is now on an upward trend and may quickly return to above 27,000 after the pandemic.

BTC

One-hour chart presents a small rebound of bitcoin within a certain range.Bold and radical investors could make a short selling at current price of 33,000 to32,000–31,000 or wait it continues to rebound to 16–17 points where bitcoin may fluctuate around 33500.At that time ,investors could choose to short it in accordance with appropriate opportunities and wait for downward breakout at the weekend

Doge

The dogecoin yesterday had a short of 0.22 and a profit-off at 0.2.It may keep rally as its main trend today.Bold and radical investors can short it at current price and stop loss at 0.21.If the latter attempt fails,it is suggested to hold a wait-and-see attitude until its market rebounds and short again at high points

Above is merely personal opinion for reference only

Author Profile:

Doctor Page,guest commentator of Fish.Pro,creator of Time-Space Psychological Trading Method,has 8-year rich experience in investment with unique trading knowledge and strategies. Focusing on dynamic changes of global financial market,Doctor Page is proficient at technical analysis on multi-national policies of central banks as well as basic economic environment and is highly sensitive to both short-term and mid-line markets with a favor on trade models featured by small costs ,hefty returns and high chance for success.

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