HGSI DOC TOP DOWN REVIEW 3.08.2020
The markets staged a nice rally Friday as I raced to cover much of my contra ETFs as volatility dropped substantially in the last hour.
Was this the beginning of a reversal or just some short covering before the weekend? Perhaps a little QE was put in the system by the FED to step the losses.
Well, Monday is a new week. We certainly appear poised for a bounce. This might occur Monday or Tuesday. However, this does not mean a race to new highs and could be another head fake.
I remain with a defensive stance but am poised to act as the market evolves. We had a VIX spike and drop on Friday and that might be signaling a time to buy.
OF course, news flow over the weekend and the Coronavirus pandemic can always trip up the market recovery.
Time to get our shopping list ready.
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Dr. Jeffrey Scott is a private investor and educational affiliate for HGSI Investment Software LLC
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