S&P 500 Futures—The wild situation in the S&P 500 continues as prices jumped nearly 11% in yesterday’s trade which was the largest percentage gain since 1933 as Congress has passed a multi-trillion dollar bill to help fight the Coronavirus helping the American people pushing prices up significantly.
The volatility remains extraordinarily high as I don’t see that ending anytime soon as the S&P today is down about 12 points as we have not seen back-to-back winning trading sessions since February 5th and 6th as it looks like that again despite the fact that we were sharply higher on the night session. At the present time I’m not involved and I’m advising clients to avoid this market as the risk/ reward is not in your favor due to the excessive volatility as the trend remains lower and as I have talked about in many previous blogs if you look at some individual stocks many look very cheap in my opinion if you are a long-term investor.
Prices have dropped about 35% from their all-time high which was hit just a month ago which is the fastest decline in history as there is so much uncertainty at the current time and until the virus is subdued expect the unexpected.
CHART STRUCTURE: POOR
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