The View from 5th Avenue

The View at Two – 27 March 2020

FREAKY FRIDAY, PLEASE. Stocks opened on the back foot and have remained that way today, but there’s still a virtual eternity between now and the close--- thus, anything could happen. There is at least one weekly certainty surrounding these volatile times though--- Friday's get sold without fail. From February 28th onward, EVERY Friday has seen the same pattern ---risk-off into the weekends. In the same way that we need the $ to keep easing, we need Friday's to become more bullet-proof. Either way, today's close, is KEY, but looks currently to not be playing ball. S&P +17.55%, SXXP +14.6% the last three days ---these strong moves mean the bar is set higher-- but the sentiment remains no less important.

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