My Comments: I really don’t have any right now. Just a confirmation you need to be careful with your money right now.
By Decian Fallon \ 26 MAR 2020 \ https://tinyurl.com/srdcmvp
It looks like we are in the process of the initial bounce, but it’s a bounce which typically forces ‘weak hand’ buyers to panic themselves into positions; these buyers will quickly sell when markets start to retest Monday’s lows. But, it’s a start.
We—and America in particular—are a long way from the end of the COVID rampage. When death and infection rates pick up we are going to see markets weaken and then we will be looking at lows, or maybe new lows. On the plus side, trading volume was higher in accumulation.
( A bunch of technical charts…)
For today, we want to see indices push beyond the recent consolidations and set up challenges for 20-day MAs and maybe 50-day MAs. This is a bounce which will establish a swing low, but it could be months before we see a meaningful rally from indices.