Sunday, March 1, 2020

Weekend Stock Market Outlook - March 01 2020

After a brutal sell-off, the stock market outlook starts this week in a downtrend. The outlook switched to a downtrend on Monday after the S&P opened below it's 50-day moving average.

The S&P currently sits below the 200-day moving average, and broke all the trendlines we had been following. Price appears to have found support at the October low. That's a 100% retracement of the 2019 Q4 advanced, meaning the market gave back all that it gained since October of last year.

Don't panic; prepare. Jim Cramer likened the current situation (healthcare-wise) to the time before measles had a vaccine. I think that's a good comparison. They'll be some bumps along the way, but we'll get through it.

More commentary after the jump...Stock Market Outlook - Week of March 01 2020

No comments:

Post a Comment