Financial media is shifting its discussion to whether or not stocks have bottomed. So, have they?
The answer quite simply is that nobody knows. Recent data trends concerning the Coronavirus have improved with global deaths now down two days in a row. New York City now expecting peak within a week as opposed to end of month and in Italy those in ICU declined for the first time. But, as noted by Dr. Fauci “you don’t make the timeline, the virus makes the timeline.” Or in other words, there is continued uncertainty about both the duration and depth of the economic disruption.
If you are interested in price levels, the S&P 500 seems to be forming a trading range of 2450-2650. So, for the week ahead, let’s see what happens in regard to this range. But, regardless, it remains a time to be cautious, to remain diversified, to move up in quality, and to continue to be prepared for volatile price movements, both to the upside and downside
For a more detailed market report head on over to our Insights page. Where there are some of the key economic data points to be released this week. Also subscribe to our YouTube channel and check out some of our other social media pages.
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