Stocks were mounting a late day come back, only to plunge by more than 3% in the final 30 minutes of trading.

Stocks Plunge 3% Proving This Market Can’t Be Trusted

MARCH 27, 2020



Reading The Markets Premium Content – $35/month or $300/year

S&P 500 (SPY)

This market is flat out dangerous and let today serve as notice how dangerous it is. The S&P 500 opened lower, trading down about 3% all day, to a low of 2,520, only to move up just over 2,600, and then with 30 minutes left in the day, it falls by over 3% in a straight line. Unreal. It can’t be trusted, it is dangerous, and it shall remain that way. No rally is safe.

S&P 500, spx


The VIX remains above 60 and climbed again today to over 65, still a sign of how uncertain investors are about this market.


Nvidia (NVDA)

Nvidia has failed now three times at $262, and I think that means shares start moving lower towards $218.

nvidia, nvda

Shop (SHOP)

Shop filled a gap at $467, double topped, and now has a gap to fill down at $387.


Anyway, its Friday and that’s all.


Mott Capital Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future results.