Weekly Market Outlook For February 3 – 7, 2020 – Crash or Healthy Pullback?

Weekly Perspectives:  Buckle Up
Weekly Perspectives: Buckle Up
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Weekly Perspectives:  Crash or Healthy Pullback?
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January is now in the trading books and the month certainly ended a lot differently than how it started.

Anyone who bought the SPY at the beginning of the year is now underwater.

As I’ve been discussing for the past several weeks, “the recent melt-up left behind some poor market structure and gaps which has left markets vulnerable to a deeper correction”.

The SPY is now trading below where it began the year and the indices are now at risk of a deeper pullback due to the ongoing Coronavirus fears.

If we see the indices begin to break below January’s lows then there’s a very high probability that we see a continued move to the downside. It is in moments like these where it is important not to allow the daily newsflow and market gyrations to trigger reactive or fearful trading impulses.

Markets have a tendency of stopping out both the fearful and greedy traders alike who chase price. In this week’s video, I review this past week’s price action on the indices to see what we can expect in the short term.

As well I analyze some of the longer timeframe charts and explain what would cause a major market reversal,

Watch this week’s Weekly Outlook video to see the setups and levels we’ll be watching as well as the technical outlook for the VXX SPY QQQ IWM DIA EEM TSX TLT GLD BTCUSD EEM and more for the week of Weekly Market Outlook For – February 3 – 7, 2020.

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Weekly Market Outlook For February 3 – 7, 2020 – Crash or Healthy Pullback?

by editor time to read: 1 min
Weekly Perspectives:  Crash or Healthy Pullback?
Weekly Perspectives:  Buckle Up
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