Wed, Feb 26, 2020 9:35 p.m.
Professor Who Predicted Last 9 Elections Warns Coronavirus Could 'doom' Trump in 2020
A professor who has correctly predicted every US presidential election since 1984 says that the coronavirus outbreak could be the final straw that ends Donald Trump's presidency in November. Allan Lichtman, a professor at American University, said that the 2020 election is so-far too close to call, but
www.yahoo.com
Stocks threaten to fall 10% in a week.
ReplyDeleteGRA:Last week,the S&P was around 3390;Today it closed at 3116.Overnight futures at 135am show another 45 point loss at the open.Support broke at 3150.Trump naming Mike Pence as "Coronavirus Chief",wasn't reassuring.
3051 is a 10% correction.The 200 day moving average is around that number--a place where previous selloffs reversed--at least temporarily.If we don't get some kind of rally the rest of this week--it would be very ominous and portend a drop to 2900-2950 for starters.Just my opinion.
--GRA
Stocks fall,try to rebound
ReplyDeleteGRA:Another 100 point drop on the S&P this morning,below the 200d moving average--at around 3050--to 3008,was followed by a counter-rally to 3064 as of 1110am.
Zerohedge reported,the last time the stock market fell 10% in a week from all time highs was 1929.
A worst case scenario for the China-Virus is cities and businesses shut down and quarantines in many cities in the US.Zerohedge suggested another "Great Depression".
Thanks China.
It's extremely important for SPX to stay over 3050-3060 and rally from there.
--GRA
Update:
ReplyDeleteGRA:Stocks rebounded to around 3097 before dropping again,as California's governor announced that 33 people in that state have tested "positive" for Covid-19--WITH 8400 more "being monitored,"
That news brought the S&P down a quick 60 points in 15 minutes.
--GRA
NY NEXT?
ReplyDelete(ZH)Update (1450ET): 700 people in New York have been asked to 'self-isolate' for two weeks because of coronavirus fears, according to the New York State Health Department.
GRA:Meanwhile the markets are fluctuating,trying to decide whether or not to price in Armageddon or something less.So far,it's something less,but it's only been a week of selling so far.
Quarantines ordered by the government and shutdowns of large swaths of the country for a 24 day period,would I'm sure cause this market to slice down to the 2500 SPX area.In the meantime,huge rallies and selloffs are taking place intra-day.Where it stops--nobody knows.
--GRA
Hopefully people are smart enough to realize that Trump preventing foreigners from entering if they have been in China within the last 14 days has slowed the spread of the virus to America. Trump was criticized for doing this--the Chinese are still whining that this is racist. Does anyone believe the open borders Democrats would have done this--especially when WHO is against it? Trump has talked about limiting entry from other countries if necessary.
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