March 13th Daily Market Comments

Be careful, although the market is trading positive it was very evident that after the market opened up dramatically, it continued to sell off. Being able to visually recognize the dark candlestick formation after the open immediately reveals the buyers have not continued. This obviously demonstrates the lack of any bullish pressure yet. Remain patient, until there is an obvious bullish candles/signal, the injury to the bullish sentiment still remains. This may be another waiting day. It may take multiple stimulus programs to gain investor confidence. It may take compelling news about the virus diminishing to diminish the overall fear factor.