I spoke about a possible bottom on S&P on March 22, market bottomed on March 24 and has rallied despite all the negative news around. Wave 2 should be in progress soon and dips towards the handle should be bought for long term investments.
Wave C of the crash can be seen as a complete five-wave impulse, and if this count suggests, then the crash is over and that the bulls are ready to lift the market higher. As long as 2183 holds, this is the count to rely on.
In conclusion, the corona virus selloff seems to be over. Higher levels can be expected as long as 2183 holds. Remember - The world was in a recession during the entire 2009, but the stock market started rising in early March 2009.
Also remember - it wasn't until March 2009 it found a bottom, while it had several ups/downs during the beginning of the recession 2008 until 2009, where it found it's the final bottom.
So unless you can provide a solid case for a v-shaped recovery before the economic numbers are in, why is your opinion valid?
@ShivkumarMenon, recovery? riots in the streets, debt to gdb at so high levels unseen, EU printing more money than it makes in their budget, 1 out 4 Americans skipping meals because they can't afford food. FFS you actually have the decency to say recovery?
ChristianSennesvik
⋅
@ChristianSennesvik, not to even mention continuing claims for UI rising _again_ and countries having to printer chopper money while covid-19 ravages several countries....recovery my ass
ShivkumarMenon
⋅
@ChristianSennesvik, i can understand your pain..hahahaha....good luck next time