For a complete rundown of our scorecards click on this link: Forecast Scorecard Report 2.3.pdf
With China reeling from the Coronavirus, the PBOC has decided to accelerate cash injections from 150 CNY to 400 billion CNY or $57 billion USD day over day. Clearly, the PBOC is a little panicked about the impact the coronavirus could have on their stock market. Chinese stocks opened up +1.3% today, which was of little impact considering the Shanghai index was down nearly 8% the previous day. Having said that the US markets have decided to take this recent liquidity surge as an indication that all is ready for liftoff. As of this writing (2 pm on 2/4/20) the S&P 500 is up over 1.5%. Was Monday the BTFD opportunity, or do we still have some downside to look forward to..? Keep your head on a swivel, we aren't so sure all systems are a go for liftoff.