March 15, 2020
Weekly Market Outlook
By Keith Schneider
Market’s globally got hit hard as even traditional safe havens did not work. Many countries are on lockdown and most likely, we are already in a Global Recession. The 10 year plus bull market has ended officially with indexes down over 20% from its all-time highs. However, the long-term trend starting from the lows in 2009, has only been broken in IWM and the Dow, while both the SPY and QQQ indexes either held their trendlines or key long-term moving averages. This means that the trend for equities on an intermediate term (weeks or months) is down but has not fully capitulated yet on a longer-term basis.
Even players like Bridgewater (whom we had connected offices with back in 1987) lost 20% so far this year as traditional intermarket relationships broke down. The good news is that in Italy, Pornhub has granted free premium access to those on lockdown.
This week’s highlights are:
The action plan is to sell into short term rallies (the intermediate uptrend is broken) because at the same time we are deeply oversold on a shorter- term basis. We are extremely proud of our Real Motion indicator which has navigated these markets adroitly. We have put together a special offer during this stressful period…
Best Wishes for your trading