This past week the markets ripped to the upside even after Thursday brought news of the worst week for new US jobless claims in history.
The S&P 500 has logged its best three-day return since 1933.
Interestingly only two such three-day periods have seen better returns, and both were during the Great Depression.
Taking a page out of the crisis management playbook of 2008-2009 the central banks and the governments of the world have given the markets all it wants and thrown in the kitchen sink for good measure.
So the question is will it be enough? And after such a historic rally are we in a new bull market?
Or are we having a dead cat bounce to be followed by a dreaded test of the recent lows?
With only 2 trading days left in the month of March and Q1, we are now at an important inflection point so, in this week’s video, I review how far this recent sell-off has taken us and what to look for signs of continued upside or a resumption to the downside.
Now 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 MGC BTCUSD EEM and more for the week of Weekly Market Outlook For – March 30 – April 3, 2020.
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