It was an interesting start to the week, as the market bounced higher on lower volume after a Friday where buyers couldn't gain any traction. On Friday, the market kept trying to rally but was pushed lower on every attempt. As such, we were anticipating continued follow-through to the downside, but the market was having none of that. The coronavirus is still wreaking havoc on China and the surrounding countries with little indication that the Chinese government has it under control. At the start of the year China had no recession worries in sight, but as they battle these seemingly endless diseases it is looking more and more likely China may see a recession sooner rather than later.
For more insight into our Scorecard please click on this link: Forecast Scorecard Report 2.10.pdf