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We use the Variable Changing Price Momentum Indicator (VC PMI) to analyze markets, including how the coronavirus is affecting the market. Over the past few days the markets have been facing the reality that we really don’t know the economic consequences of the immediate and longer-term effects of the virus. The market is reflecting a deeper concern about the virus. Even though China claims to have contained the virus, it appears to be continuing to spread. It is a black swan that has caught everyone by surprise.