10 Days Later? Coronavirus Hysteria Only 7th Worst 1-Day Plunge Since 1987

No, the Coronavirus is not the same as the film “28 Days Later” where a virus turns people into flesh-munching zombies.

True, the one-day drop on February 27th was -11.7%. ┬áBut we don’t know yet what the return will be after 10 days. But if history is a guide, only the correction of 10/10/08 was followed with continued declines out to 90 days.


So, while Coronavirus cases increasing, the morality rate is low. So far.


There is not even a red-flashing warning from the Hindenburg Omen that “predicted” the 2008 stock market crash.


The NYA is below its lower Bollinger Band indicating that a rally is forthcoming.


Wow, that is one steep Elliott wave.


And the Ichimoku cloud is far above the latest reading for the stock market, indicating a rebound is forthcoming.


And we see a declining VIX index as Friday trading concluded.


So, what will happen Monday morning or this coming week?