|Sunday, May 03, 2020|
The market has made a nice snapback move of 61.8% from the big market plunge back in mid-March and then took 27 days to snapback. Then on Friday the leading averages finally broke through those rising trendlines Iíve been showing that acted as support. Now the question is, will the averages fall back down to prior lows set back in mid-March or possibly move still lower? In the meantime, extremely high cash levels are best until things get sorted out.
Let's start off with two leading averages.
My short-term trading oscillator closed on Friday at +19 which is way down from extreme readings that we saw just a few short weeks ago.
Now on to some very volatile movers that are market leaders in better market environments.
I hope to see you in my chat room on Monday and back here Monday night.
Daniel J. Zanger