Upcoming 1Q EPS Season a Test of Market Bottom. Social Distancing Working in NYC

Stocks broke a pattern last Wednesday, March 25, managing two successive days of gains, something not seen since February 28th. That’s not a long time but it might feel that way to investors who have experienced this downdraft.

Nevertheless, this trading action generally reinforces our belief that the "structural bottom" for stocks was registered last week (ala Oct 2008) and affirmed by Tom DeMark's comments to our clients on Tuesday: "The bulk of the downside is behind us...but we might...

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