MARKET INDEXES SHOWING WEAKNESS

MICRO NASDAQ FUTURE (/MNQ)

This week has been a big week for the major indexes. We have had a ton of earnings reports as well as the fed update on Wednesday. We saw the market indexes recoup losses after hours yesterday due to the Amazon (AMZN) earnings beat, only to watch the market 180 back to the previous days low.

Overall the markets have been incredibly strong and have had little indecision as of recent. This could signify a bit of a reversal, maybe not a bear market but a much needed pullback before continuing it’s long run.

So far we have seen the FED keep the course it was already on, with keeping interest rates where they are. That is typically a good thing as the markets tend to overreact to change. We also have a health crises revolving around the coronavirus. This market is certainly worth watching for the possibility of bears to enter into the market for a short period.

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