Today's bearish indicators are showing everywhere. The virus is...

Today's bearish indicators are showing everywhere.
The virus is causing a deterioration in the economies around the world.

Fundamentally:

• USA faces record unparalleled high unemployment.
• Cases there are increasing faster than recovering. One month has lead to 30 million out of work. The top company by market cap on UKX (Shell) has cut it's dividend by 66%.
• Cure is 9 months away at best as previously mentioned. Look at the damage that 1-2 months of lockdown has done.
• Australia is getting better (cases & recoveries). Our huge problem is our reliance on overseas markets due to exports.
• Super funds in Australia have to sell down their investments to be able to match their outgoing obligations as each individual who lost 20% of income can withdraw 10k early and again in 6 months.

Technically:

• We have rejected the 5550 on XJO three times!
• We face the prospect of printing a bearish engulfing on the daily chart today