Excerpt from Benzinga quoting DataTrek’s Nick Colas:
…. “The SPDR S&P 500 ETF Trust SPY 1.3% traded higher by 2% on Thursday morning, and the S&P 500 hasn’t made new 2020 lows since March 23. However, DataTrek Research co-founder Nicholas Colas has been following a trading playbook based on market action in late 2008, and Colas said Thursday the current period may simply be the calm before the storm for stocks.
In the daily DataTrek newsletter, Colas said the S&P 500 has been following his 2008 playbook perfectly up to this point, and the market bottom may not yet be in if the market continues to track 2008″….
Read the full article here on Benzinga!