Hey Folks, the Covid-19 continues to tear across world markets there are also a few spots of light that are beginning to appear. I will review them in this week’s video update.
• This we saw all indexes finish in the red but with the prior week’s double digit gains we’re finding some stability in market price action. We also have seen the VIX move below 50 for the first time since March 11th as the day to day moves no longer seem to trigger a lock limit move…As markets better calibrate from the initial “sell everything” mood to a more selective selling mood, we will shift our bearish phase to more selective buying while some stocks continue to underperform…Now we can still see the VIX move over time to lower price levels while overall market indexes also make lower lows, selective buying will begin to form the bottom as we carve out a base in prices…we saw the same attributes in the 2008 financial market crash where the markets continue to make new lows after the end of 2008 yet many quality stocks saw their lows form in late November, 2008…
• This past Friday’s Job Numbers showed over 700K lost and the worst is yet to come as the unemployment rates jumped up to 4.4% from 3.5%…Keep in mind this will get much worse since this really only included about a half of months data from March so we can expect these numbers to grow substantially in the April and even May employment numbers…
Enjoy This Week’s Round-Up;
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