Note how the news is now directed toward the US economy opening back up versus the numbers about virus cases. Obviously investor sentiment is currently oriented towards the economy. The whipsaw action of the market was witnessed in yesterday’s selling at the end of the day, followed once again by bullish sentiment back in the markets today. Expect more whipsaw action but the NASDAQ is providing a good visual indication investor sentiment continues to move the markets in a slow upward direction. Stay predominately long, any short positions being held should have very compelling reasons.
May 20th Daily Market Comments
Note how the news is now directed toward the US economy opening back up versus the numbers about virus cases. Obviously investor sentiment is currently oriented towards the economy. The whipsaw action of the market was witnessed in yesterday’s selling at the end of the day, followed once again by bullish sentiment back in the markets today. Expect more whipsaw action but the NASDAQ is providing a good visual indication investor sentiment continues to move the markets in a slow upward direction. Stay predominately long, any short positions being held should have very compelling reasons.