MARKET OUTLOOK, 30 MARCH 2020

The S&P 500 rebounded a bit more than 10% this week, as trader bought shares at a discount following congressional approval of the $2 trillion stimulus package for main street and wall street.

There are many more steps the fed took this week to help stabilize the economy following the coronavirus impact on the economy, as long as the crises continue the damage to the economy is spreading, its not a narrow scope problem to tourism-related companies but wide damage to the entire economy in the form or credit freeze, labor force, corporate and government bonds yield, etc..

Many businesses are going to reflect that in their bottom line for Q1 and Q2.

AlphaOverBeta Next Week Forecast

SPY Had just completed a 1-2-3 pattern confirming the 265 as the short term top.

Our technical analysis models predict a downturn next week re-testing the 220 lows,

There is more than 50% that the low of the 220 will break marking the 200 as the next level to watch.

breaking the 220 level will trigger a strong short trigger for SPY and other weak stocks on AlphaOverBeta short watchlist available for our subscribers

AlphaOverBeta Next Week Forecast

Our model portfolios are open for subscribers to AlphaOverBeta.net

AlphaOverBeta sectors ranking

Below you may find our leading and lagging sectors.

Healthcare and Biotech sectors are the worst to be impacted by the drop in the short term, some companies are trusted to finally find a cure for the coronavirus showing an improvement in their corporate earnings…

The oil and gas sector is suffering from negative momentum for a long time and is in a short position in our commodities portfolio.

AlphaOverBeta ranking in Metals

Palladium and Gold continue to lead the metals with relatively strong momentum and are forecasted to continue to do so in the next few weeks.

We are short copper as it is lagging the rest of the commodities

AlphaOverBeta ranking in Currencies

The Australian dollar had issued a short trigger in our currency portfolio and has been weak for quite some time, it had corrected in the short term and is ready for the next leg down.

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AlphaOverBeta Trades

We have a number of specific stock picks from the above sectors in our website,
You may find all of AlphaOverBeta trades in the Real Time Trading Updates of our website

Trade Safely,
Alon

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