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Pervasive risk off news about the resurgence of the Coronavirus caused stocks to crash, breaking down from what appears to be a head and shoulders pattern. These are usually quite reliable when it comes to stocks. Currently, Ghostsquawk AI is conveying a risk-on bias, lifted by earnings and upgrades. It is likely the risk-off sentiment of the Coronavirus will prevail here, unless the Fed can save the day again.

The Kovach OBV is bearish, but the Kovach Chande is showing a brief respite, so if you believe in a short position, your entry price may be coming up soon.

head and shoulders

Another wave of risk-off Coronavirus sentiment caused a breakdown from the head and shoulders pattern above in stocks. Wait to buy back at lower prices.


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