Will Friday’s COVID announcement create another 40% market drop like the first global lockdown?
The overall market was clearly building an interim top since 11/10.
The recent COVID announcement of the month sealed the deal on the recent topping pattern.
Recent trading pushed prices below the low point of the top which was bad enough and was a signal to take some profits.
Friday’s covid announcement pushed prices substantially lower with an opening gap and on increasing trading volume.
Will Friday’s announcement create another 40% drop in the overall market like the first global lockdown?
I hope not but we will have to watch and see.
This video also explains how to recognize tops and when the market is returning to a more bullish period.
stockmarket #swingtrading #stocks #markettiming