MARKETS DROPPING FROM CORONAVIRUS

This is a little late, but so far the stock markets are seeing red due to the coronavirus spread. The SP index has dropped considerably over the past week, with very little pullback to the upside.

How long will the slump occur? It is difficult to say. As of right now we know the market has been on a major upward trajectory for the past several years. Needless to say there is plenty of room below.

Looking forward, we need to look at zones, or support and resistance areas to find where we may pause or pullback from/to. We could still see some downside as companies begin fearing 3rd quarter earnings being effected by the virus spread.

Remember, manage your money by have a smaller risk compared to your profit targets. Follow your rules and stay in the game.

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