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Just last week, we were asking the opposite question, as traders were believing that the market had immunity to the risks from the "coronavirus."
This was a point we discussed with our RIAPRO subscribers in Monday's technical market update.
"As noted last week: 'With the market now trading 12% above its 200-dma, and well into 3-standard deviations of the mean, a correction is coming.' But the belief is currently 'more stimulus' will offset the 'virus.'
This is probably a wrong guess.
Extensions to this degree rarely last long without