Just gonna leave this here… pic.twitter.com/s4TIsgQiJO
— …QUIXOTIC_MASTERMIND… (@QUIX_MASTERMIND) April 14, 2020
Does a 50% retracement mean a bad event has to be over?
The S&P 500 peaked in Oct 2007, dropped to March 2008 low, rallied hard into May and retraced over 50% of the A to B move.
Was the low in? No, the S&P dropped 53% before making the final low in March 2009. 2020 TBD. pic.twitter.com/t4XmvAoApy
— Chris Ciovacco (@CiovaccoCapital) April 13, 2020
Opinion: Why Goldman Sachs’ bullish turn is bearish for stocks
Market rally not being met with skepticism is a troubling sign
JPMORGAN: Global auto sales “declined 11.2% last month, building on a 19.7% drop in February. These two months of declines have produced a bigger drop than the peak-to-trough loss in the GFC—and it is still set to get worse.” pic.twitter.com/DpAIeK8DX1
— Carl Quintanilla (@carlquintanilla) April 14, 2020
“…back to work doesn't mean back to growth…Back to work means finding a more sane, stable way to maintain society until we get a vaccine. There will be no V-shaped recovery. This is a marathon, and if we're lucky, we will limp across the finish line.” t.co/ch87FmoufY
— Linette Lopez (@lopezlinette) April 12, 2020
A complex picture when assessing market valuation: While some expect earnings to fall 20% in 2020, as the chart shows, the fwd P/E ratio has risen even as #economic news has worsened. At an #SPX of 2789 & 2020 #EPS of $125, the 2020 P/E is 22x, higher than it was at the top… pic.twitter.com/bYyBoIxIJO
— Jurrien Timmer (@TimmerFidelity) April 13, 2020
Goldman Sachs: "It is remarkable that the US is in the midst of its greatest economic crisis in nearly a century and unprecedented societal disruption while the stock market trades at the same level as it did in June 2019, just 10 months ago." pic.twitter.com/BPouoP5K6V
— Robin Wigglesworth (@RobinWigg) April 13, 2020
Markets right now: pic.twitter.com/uj8Bpj3fMd
— Masa Capital (@MasaSonCap) April 13, 2020
Never forget. pic.twitter.com/FQQY6P5sHq
— Sven Henrich (@NorthmanTrader) April 14, 2020