The Biden Bounce: Spoiler Alert
Candy Matheson | Mar 04, 2020 04:05PM ET
CNBC is all atwitter with excitement proclaiming Wednesday's spike in stocks the "Biden Bounce" after his wins in Tuesday night's Democrat Super Tuesday state primaries.
The following S&P 500 weekly chart shows a 1-week MA (ohlc4 -- blue cross).
By 1:25 pm ET on Wednesday, price was just above last week's MA of 3081.87. We'll see if price holds above that, or retests this week's MA of 3039.325, or lower.
Pay close attention to my posts here with respect to the negative consequences of a Joe Biden presidency for the next four years.
By the way, he's not president yet, nor is he the Democrat nominee, so, in reality, market action/sentiment would, no doubt, be driven by President
Trump's policies (and other factors) until, at least, January 2021.
As President Obama was fond of saying during the 2016 presidential campaign, "There is only one president at a time."
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