Commentary: The stock market was in decline Friday to end the week. The market, however has rebounded off the corona lows. The stocks could set up a broad range here if the lows are in. The US stimulus package is now under way. The effects of capital will be felt in the coming weeks. Don’t misunderstand. These funds at present represent a bridge to survival. But the worst case may be dialed in. If the corona starts to peak in the next 10-14 days and an end is in sight, then optimism could pick up. The month of May could bring people back on line and working. I am hoping for the best case here. We have already felt the shock of the worst. If the best plays out the lows may be in. Expect volatility if so. I do not insinuate we will come roaring back. However, a marked low would allow building blocks and a goal in sight. The tech, both the Dow and the S & P have traded to the 14,21 MA on the daily. This could be a near term positive. It also may indicate a range bound trade that needs more guarantees to move forward. Stay Tuned
Trade Suggestion(s)
NA today
Risk/Reward
Futures-
Options –
BE WELL,
John J. Walsh
President, Walsh Trading, Inc.
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