Greetings

The markets staged a nice rally Friday as I raced to cover much of my contra ETFs as volatility dropped substantially in the last hour.

Was this the beginning of a reversal or just some short covering before the weekend?  Perhaps a little QE was put in the system by the FED to step the losses.

Well, Monday is a new week.  We certainly appear poised for a bounce.  This might occur Monday or Tuesday.  However, this does not mean a race to new highs and could be another head fake.

I remain with a defensive stance but am poised to act as the market evolves.  We had a VIX spike and drop on Friday and that might be signaling a time to buy.

OF course, news flow over the weekend and the Coronavirus pandemic can always trip up the market recovery.

Time to get our shopping list ready.

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Dr. Jeffrey Scott is a private investor and educational affiliate for HGSI Investment Software LLC