March 16, 2020
A volatile bottom. The markets appear to us to be putting in a bottom in the general trading areas of last week with many of the indicators reaching record proportions of selling pressure that often mark a low point after a pullback. Low points in the market tend to be made in a way that is not obvious as the catalyst that is behind the decline is usually still a large issue. But the market has reacted to all that is known and also has adjusted for the fears and expectations of what may lie ahead. We believe the low points from Thursday on the indexes are now the important levels to hold going forward as that is where the markets saw peaks in the volume and volatility and selling pressure. The volatility will likely remain high for the near term, which will continue to make it very difficult to tell what is going on with the market, but as long as the Thursday low holds, we consider the choppy trading to be part of a longer-term bottoming process. Read More
