Market Weekly: February 23-29 2020


[quote=”ThePitBoss” post=12930]Another Wild Night ….

S&P 500 futures pretty much flat on the day now BUT

We are seeing a potential turnaround in the market after another extension of the risk rout earlier? Or will there be more selling later in the day once Wall Street steps in?

After sharp moves in the market, there is always the scope for a pullback. So perhaps this is it, but perhaps we could see a deeper pullback as well later in the session.

Any major fears of the virus hitting the US (now the key focus in the outbreak) are the focus
Global Times’ editor, Hu Xijin, has already begun to put a spin to that story here:[/b]

“I think now the US is the country with potential large uncertainties. Many doubt that the US has only 57 cases of coronavirus. It can’t be ruled out there is problem with the diagnosis. COVID-19 is probably the biggest variable to the US economy and US presidential election.”

Coronavirus headlines continue to evolve more rapidly, expect that to weigh on risk and any pullback will likely be short-lived with fear and hysteria still riding high now

Oil continues to keep losses under $50 now.[/quote]

The ignorance is amazing – so lets blame America now