I suppose the most stunning news over the weekend was that Disney World has reopened in Florida – where daily new cases just topped the worst that New York ever saw, deaths are also on the rise, and which has the highest percentage (17%) of those over 65. Of the 269,811 confirmed cases, 4,242 (1.6%) have resulted in death.
One has to wonder about the sanity – not of the politicians and financiers who, to no one’s surprise, prioritize money over public safety – but of the parents who are flouting Darwinism to lead their children through those gates into a giant petri dish that has the potential to end lives. Would they be so cavalier if the rides carried a 1.6% fatality risk?
The algos ignored any COVID-19 related news, of course, and spiked even higher on the mention of the word “vaccine” on CNBC, much as they did last year every time “news” of a China trade deal was leaked.
In the meantime, ES has reached the .886 Fibonacci retracement of the drop from the June 9 highs – a potential turning point unless the .886 of the drop from Feb 19 is the ultimate goal.
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